Tanker market report dated 16 November 2018

To say its been tough for Venezuela in recent years would very much be an understatement. The economy has shrunk more than half since 2013, almost 10% of their 30 million population have fled and their oil output – which accounts for 90% of their exports – has plummeted to levels not seen since 1940’s. A chronic lack of investment in the vital oil infrastructure, years of mismanagement and hyperinflation has sent the country’s oil production into ‘free fall’.

The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

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Posted: 20 November 2018

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