A Surge in MR Tanker Voyages from Europe to West Africa
A new trade pattern is emerging for product tankers, specifically designed to avoid vessel glut in Europe. This shift is reshaping the refined product trading map in the Atlantic basin, as identified by Becky Smart, a research analyst at Sentosa Ship Brokers.
The Triangulation of Voyages Boosting Vessel Employment
Becky Smart has highlighted a new triangulation of voyages in the region that is significantly boosting vessel employment. This strategic move involves increased MR tanker voyages from Europe to West Africa, creating a more efficient and balanced flow of refined products.
Photo: LinkedIn
This development comes as the Atlantic basin business undergoes a transformation, with analysts explaining how these changes are impacting global trade dynamics. The focus is on optimizing routes to prevent oversupply in European markets, which can lead to reduced profitability and operational inefficiencies.
By redirecting tankers to West Africa, companies are tapping into growing demand in that region, while simultaneously alleviating pressure on European ports. This strategic reshuffling not only enhances vessel utilization but also supports more stable pricing and supply chains in the refined products sector.
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