Project Description
In January, crude oil prices dipped to their lowest point in six months, reflecting a sluggish global economy. While overall volumes appeared slightly lower compared to the previous year, an interesting trend emerged: tonne miles increased as cargoes traveled longer distances. Meanwhile, the demand for LNG and LPG in Asia experienced a decline from the peaks witnessed in December. On a brighter note, chemical tankers saw a notable improvement in January compared to the same period last year, particularly in Methanol volumes, signaling positive growth in this segment.