Different tanker sizes are used for different routes, namely because of distance and port access
constraints. There is thus a specialization of maritime oil transportation in terms of ship size
according to the markets being serviced. VLCCs are mainly used from the Middle East over long
distances (Western Europe, United States and Pacific Asia). “Suezmax”4 tankers are mainly used
for long to medium hauls between West Africa and Western Europe and the United States, while
“Aframax”5 tankers are used for short to medium hauls such as between Latin America and the
United States. Transport costs have a significant impact on market selection. For instance, three
quarters of American oil imports are coming from the Atlantic Basin (including Western Africa)
with journeys of less than 20 days. Venezuelan oil takes about 8 days to reach the United States