Unsold Brazilian cargoes are cutting demand for very large crude carrier (VLCC) employment in the Atlantic, according to Kpler.
The market assessment points to weaker shipping demand linked to cargoes that have not yet found buyers. With fewer cargoes moving, VLCC activity in the Atlantic is affected.
Context: Tankers Intelligence File · Tanker freight rates explained
Kpler indicated that declining freight costs may ultimately help attract buyers back to Brazilian cargoes. Lower transport costs could improve the economics for potential purchasers and support a recovery in demand for long-haul crude tanker shipments.
The available source material does not provide further details on freight-rate levels, cargo volumes, vessel fixtures, destinations or the timeframe for any potential market recovery.