Tankers
Suezmaxes the winners from Chinese oil tariffs
Last month’s decision by Beijing to slap a retaliatory 5% tariff on imports of US crude oil will hurt VLCC earnings, but could be good news for suezmaxes, posits Alphatanker in its latest weekly report.
While much replacement crude will head from West Africa to China on VLCCs, this voyage is 18 days shorter than cargoes heading from the US Gulf, the AXS Marine subsidiary pointed out, leading to a predicted lower ton mile demand for VLCC voyages into China over the next few months.
For suezmaxes however, liftings out of Libya and the Black Sea are anticipated to grow, Alphatanker predicted with the rates delta with VLCCs anticipated to be slim.