Aframax owners have begun feeling the impact of Libya’s decision to shut down oil production and exports this week, says Braemar.
The country’s eastern government announced the move on Monday, citing “force majeure” due to rising tensions with the rival Tripoli-based government.
“The loss of Libyan cargoes is already negatively impacting aframax freight rates, off another $1,200 per day Wednesday for cross-Mediterranean voyages,” said Braemar.
