As of 4 July 2024, the Drewry Crude Tanker Equity Index strengthened 15.4% YTD (vs 15.5% increase in S&P500), driven by high seasonal demand and tight tonnage supply. However, the index slid 5.5% MoM in June due to declining VLCC rates amid China’s muted demand growth and extended OPEC+ production cuts. Teekay Tankers led with …