In the last week of November, the crude oil freight market continued to exhibit weakness in sentiment, struggling to balance ship availability and erratic demand growth. Despite earlier expectations for a recovery in the very large crude carrier (VLCC) segment, the market faces challenges. However, optimism for increased momentum during the winter season in December has emerged, with a gradual easing of concerns about supply tightness, particularly in the context of higher Saudi Arabian crude oil inflows. The report also details the state of various freight segments, including VLCC, Suezmax, Aframax, LR2, Panamax, and MR, along with vessel supply and demand indicators.

SOURCE: GOOGLE