Latest Breaking News On - Mediterranean aframax - Page 1 : comparemela.com
Cross-UKC Aframax freight rate hits YTD high amid North Sea tonnage crunch | Hellenic Shipping News Worldwide
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Dirty tankers quarterly: Markets adjust to shifting trade patterns | Hellenic Shipping News Worldwide
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The Aframax Mediterranean market stands to benefit from a potential recovery of Libya’s oil production, however difficult this may sound at present. In its latest weekly report, shipbroker Gibson said that “in recent years, despite holding the largest oil reserves in Africa and the 9th largest reserves in the world estimated at 48.40 billion barrels, .
Tankers: VLCC Market Firms up on Suez Blockade | Hellenic Shipping News Worldwide
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Libyan freight premiums subside amid consistent output
Freight premiums for Aframax and Suezmax tankers loading from Libya have subsided as the North African producer has once again emerged as the main export hub in the Mediterranean crude market.
Freight rates for voyages out of Libya have been priced at a premium over standard cross-Mediterranean Aframax assessments in the last six months amid geopolitical uncertainty and prompt laycan dates.
However, the premium on Aframax and Suezmax tankers has narrowed since late February, according to S&P Global Platts data. The Aframax Libya-to-Mediterranean run was assessed at w92.5 on March 4, on par with the Ceyhan-to-Mediterranean run.