Global tanker tonne-miles stay suppressed despite rise in Americas-Asia crude flows
- The US and Brazil rank in the top five import origins for Asia-based refiners as Middle East Gulf cargoes become scarce
- Venezuelan exports declined when compared to pre-crisis levels as Chinese importers lose out following the US’ takeover
- The lack of sufficient production at other crude-exporting nations has made it difficult for tonne-miles to rise despite longer voyages
Key Asian economies are re-evaluating crude-procurement strategies as the Hormuz crisis exposes supply chain vulnerabilities
