West Africa Market Could Support Tanker Rates


Crude tanker owners could use some good news, as they are preparing to enter a period of uncertainty, following the expiry of the contango effect, which boosted their earnings in the short-term. In a recent weekly note, Banchero Costa detailed the current trends in the West Africa market.

According to the shipbroker, “seaborne crude oil exports from West Africa have seen steady growth this year, apparently unaffected by the virus pandemic and by the collapse in oil prices. Trade patterns, however, continue to shift, in ways both expected and…



Source link

Tags:
integral
About Author: integral
A free-thinking individual who strives to maintain psychological balance between the two polar aspects of Human Nature; Desire and Conscience. However, These conditions can never be balanced because inertia will carry us to extremes. Balance is a constant struggle therefore I live by the principles of the HERU Interface