The Sun is Rising in the West: US Exports Steal the Spotlight

In 2008, it was difficult to envision the developments in exploration, production and the resultant impacts on trade that would come to characterize the tanker market just five years later. For the majority of the past decade, all eyes have been set on China and rightfully so. For all intents and purposes, the emerging market nation’s rapid crude oil consumption growth was the singular driving force for ton‐mile demand. Prospects for VLCCs looked bright. The West was obsolete. Download here