Atlantic demand could support VLCC rates despite oversupply worries: CMES

Rising demand from the Atlantic Basin may support VLCC freight rates despite growing concerns about a structural oversupply in the tanker market amid trade disruptions through the Strait of Hormuz, China Merchants Energy Shipping said April 27. CMES’s Secretary of the Board of Directors, Kong Kang, said during an investor question-and-answer session that recent fears of “no oil to move” areRising demand from the Atlantic Basin may support VLCC freight rates despite growing concerns about a structural oversupply in the tanker market amid trade disruptions through the Strait of Hormuz, China Merchants Energy Shipping said April 27. CMES’s Secretary of the Board of Directors, Kong Kang, said during an investor question-and-answer session that recent fears of “no oil to move” areRead More