As rates for VLCCs and suezmaxes took a tumble this summer, they found work in an unlikely place.
According to figures from Steem1960 Shipbrokers, the share of uncoated tankers — that is vessels typically used in crude oil trades — carrying petroleum products hit roughly 65m tonnes, or 15%, of cargoes in July and August.
It was the highest share in 25 years, or as far back as the Norwegian broker’s records go.
