The Business Times (Singapore): Mid-East VLCC Surplus Halves

“The supply of supertankers competing for two million barrel shipments of Middle East crude more than halved as demand gained and owners sent empty vessels to West Africa for higher returns . . . . Owners shipping West African crude oil to Asia can make US$30,135 a day more than they would for delivering consignments from the Middle East, according to data from New York-based shipbroker Poten & Partners.”