Long-haul VLCC trade growth 'cannibalises' smaller tankers

An increasing volume of Atlantic Basin crude oil is being carried on VLCCs at the expense of smaller vessels.

Charterers, for example, have typically combined North Africa parcels on one VLCC rather than using two suezmax tankers.

But the trend is spreading, with Alphatanker also identifying growth this year in VLCC fixtures from Latin America, Russia, the North Sea and North America.