Mid-Year Tanker Market Outlook Update

Sept. 7, 2017

VLCC demand along the AG>West trade is likely to remain subdued over the remainder of the year amid OPEC-led production cuts in the Middle East as well as higher crude supply in the US.  Regarding Arabian Gulf volumes to the East, we expect ton-mile demand growth of about 1.6% this year, while Atlantic Basin volumes to the East will remained supported by higher US crude exports on the back of favorable WTI pricing.