Tropical Storm “Gordon” tightens the tonnage availability Aframax owners is currently enjoying remarkably higher rates due to the bad weather in the US Gulf, up almost 15% over night. The average global freight rate has surpassed $16.000 a day, up around $3.000 from last week. The Aframax market has been on the strong side the last couple of weeks, with a strong demand trans-Atlantic and a tight tonnage list. The refineries are running at close to maximum capacity and the

ADS Crude Carriers, a company founded by Arendals Dampskibselskab (ADS) in 2015, is heading for Merkur Market. Merkur Market is a marketplace owned by Oslo Stock Exchange, offering the fastest admission process in Europe. According to Tradewinds, Oslo Stock Exchange has approved the listing and first trading day will be today, Tuesday. ADS Crude was earlier reported taking over the Ship Finance owned Front Stratus and Front Page. Further, they will take delivery of a third VLCC from the same

Removes production cuts equal to 1 million barrels a day According to Reuters, OPEC has reached an agreement, despite the disagreement that existed before the meeting, to reduce production cuts equivalent to one million barrels a day. This means an actual increase of 600.000 barrels from today’s production levels. There is always some uncertainty about how much impact it will have on the tanker market, but it can surely only be interpreted positively. An increased supply of 1 million barrels