Marinelink: VLCC Segment shows Modest Growth

28 March 2016: “In the Very Large Crude Carriers (VLCC) segment, which showed modest growth in overall volume from 2014 to 2015, the main changes were concentrated in the eastern hemisphere, says a report by Tanker Research & Consulting department at Poten & Partners. In the Middle East, there was a significant increase in movements from the Arabian Gulf to the Red Sea. Reported VLCC fixtures increased almost five fold from 12 in 2014 to 56 in 2015, mainly as a result of the startup of the 400,000 barrels per day (bpd) Yanbu refinery at the end of 2014, which is located on Saudi Arabia’s Red Sea coast.”