Since the economic downturn, the estimated average distance of seaborne crude trade has risen by an average of 1.8% per year, with Asia now representing 55% of global import demand (38% in 2003). Shifts in countries’ crude import sourcing patterns and the impact of vessel upsizing have helped to support tonne-mile growth despite the weakness of global oil demand. The Graph of the Month shows examp...
Since the economic downturn, the estimated average distance of seaborne crude trade has risen by an average of 1.8% per year, with Asia now representing 55% of global import demand (38% in 2003). Shifts in countries’ crude import sourcing patterns and the impact of vessel upsizing have helped to support tonne-mile growth despite the weakness of global oil demand. The Graph of the Month shows examp...
