Crude tanker cannibalisation of clean cargo winds down (for now)
Dirty-to-clean switching could rebound in 2025 after winter lull
One of this year’s big surprises has been the high number of non-newbuilding crude tankers switching to clean trades to take advantage of better rates. This practice effectively reduces the duration that long-range product tankers can significantly outperform suezmaxes and VLCCs