TMX crude flow to Asia may lift Aframax demand, affect Persian Gulf-USWC VLCCs

The significant increase in Canada’s TMX heavy crude exports from Vancouver to Asia, which have nearly tripled since May, is expected to bolster Aframax freight rates with more tonnage being placed in the region, while potentially reducing Middle East crude movement into Pacific markets, several market participants said Sept. 24. “There is no major repositioning of Aframaxes as of now…The significant increase in Canada’s TMX heavy crude exports from Vancouver to Asia, which have nearly tripled since May, is expected to bolster Aframax freight rates with more tonnage being placed in the region, while potentially reducing Middle East crude movement into Pacific markets, several market participants said Sept. 24. “There is no major repositioning of Aframaxes as of now…Read More