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Supertanker owners shun US fixtures to Asia as rates tumble - TradeWinds

TradeWinds · last updated

Supertanker owners shun US fixtures to Asia as rates tumble | TradeWinds

Low rates are deterring VLCC owners from completing fixtures for long-haul US Gulf to Asia routes in expectation of better times ahead, according to shipbroker Braemar.

Asian refineries are looking to the region to replace increasingly expensive Middle Eastern crude but owners do not want their tankers operating for weeks on routes offering low returns, it said.

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