Lowest US oil import since 1996 puts massive pressure on VLCCs

The rates for crude oil transport by the VLCC supertankers are hit hard by the lowest US oil import since 1996 and far too many ships in the fleet, according to new analysis by McQuilling Services.

The major VLCCs took the biggest beating in the market for crude oil transports during the first half of 2013, writes US-based McQuilling Services in a new analysis, according to Hellenic Shipping News.

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