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Middle East Tanker Surplus Narrows

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An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days fell to 16%, according to Bloomberg sources.

  • This compares to 27% a week ago, Bloomberg said.
  • “The tonnage list is limited after a large volume of fixing within the last week,” Gibson Shipbrokers said, cited by Bloomberg.
  • Earnings on the benchmark ME-China route rose to $52,477 May 17, the highest since March 20, according to Bloomberg citing Baltic Exchange data
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An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days fell to 16%, according to Bloomberg sources.

  • This compares to 27% a week ago, Bloomberg said.
  • “The tonnage list is limited after a large volume of fixing within the last week,” Gibson Shipbrokers said, cited by Bloomberg.
  • Earnings on the benchmark ME-China route rose to $52,477 May 17, the highest since March 20, according to Bloomberg citing Baltic Exchange data