Oil Trading & Tanker Chartering Masterclass
15 June 2023The Oil Trading and Tanker Chartering Masterclass covers essential time chartering issues.
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The Oil Trading and Tanker Chartering Masterclass covers essential time chartering issues.
Gulf of Guinea crude oil exports have year-to-date contributed 13.7% of VLCC’s tonne miles demand and 16.5% of Suezmaxes. A 13.5% y/y drop in Nigerian year-to-date crude oil output has been the main drain on demand and caused a 5.9% decline in tonne miles. A further decline in Gulf of Guinea exports can be expected from mid-2023 when Nigeria’s Dangote refinery begins operation – requiring a sizeable portion of the country’s crude oil – and possibly add to rate volatility.
The 101st session of the IMO’s Maritime Safety Committee (MSC 101) has held initial discussions in London on how to address the safety of ships when using fuel oil.
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