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Tankers and Gas Iran Venezuela

Tanker execs parse Iran, Venezuela and ‘seismic’ Sinokor strategy

  • Iran conflict effects would depend on whether ships are targeted; for now, tensions are driving demand for cargoes to exit the Strait of Hormuz
  • US action in Venezuela will not only support aframaxes in US Gulf, but should also drive more Canada-China replacement cargoes on aframaxes
  • Okeanis Eco Tankers estimates that Sinokor will control 37% of the spot VLCC market

  • Analysis

The VLCC market hit yet another cycle peak on Thursday, with average Middle East Gulf-China rates surging to over $150,000 per day. The big question now: will the US attack Iran and what will happen in the Strait of Hormuz?

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