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Tankers and Gas Political Risk and Trade Iran

Trump pressure on Iran positive for VLCC rates but with lag effect

  • VLCC spot index up 46% vs January 17, but dipped 0.3% on Wednesday vs Tuesday
  • BWET exchange-traded fund that tracks VLCC Middle East-China FFAs fell 4% on Wednesday
  • Speakers at Norwegian- and Hellenic-American chambers conference in New York predict aggressive Trump actions targeting Iranian crude flows to China

  • Analysis

The newly announced Trump policy targeting Iranian crude flows sounds very positive for VLCC rates. But unlike in the old days, when Opec was much more important to the global crude flows, such events do not cause an immediate and extreme VLCC rate spike. It will take time for sustainable upside to materialise

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    This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

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