The LNG sector was up 14% in September and we estimate tonne mile growth will be up 3% overall this year. This sounds impressive considering the COVID-19 disruptions, however growth is much lower than previous years with 7% growth last year and 13% in 2018.
Crude oil is likely to fall 4% this year, while oil products were hit slightly harder in terms of lost volumes at 6% fall. However, vessels travelled a lot further and were down only 1% in terms of tonne mile.
Gasoline returned to pre-COVID levels in September at 19 million tonnes. USA Imports were up as the US were in driving season and election season.