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Capesize

Capesize are large-sized bulk carriers and tankers typically above 150,000 deadweight tonnage (DWT).  They are much bigger than Panamax and Suezmax vessels both in terms of draught size and DWT, and so they are categorized under VLCC, ULCC and bulk carriers.  Nowadays, Capesize vessels with a DWT of up to 400,000 DWT are being built to meet the demands for ultra-large bulk carriers. Capesize vessels are too large in size (especially their draught) to pass through the Panama Canal. As a result, they must transit via Cape Horn to travel between the Atlantic and Pacific oceans. Earlier, they were not fit to pass through the Suez Canal and required to take a long root via the Cape of Good Hope to travel between the Indian and Atlantic Oceans. But the deepening of the Suez Canal from 18 m (60 ft) to 20 m (66 ft) in 2009 permits most capesize…

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Aframax

AFRA stands for Average Freight Rate Assessment. As the name suggests, Aframax are medium-sized oil tankers with a dead weight tonnage (DWT) between 80,000 and 119,999. Though relatively small in size in comparison to VLCC and ULCC, Aframax tankers have a capacity to carry up to 120,000 metric tonnes of crude oil. They are just ideal for short to medium-haul oil trades, and are primarily used in regions of lower crude production, or the areas that lack large ports to accommodate giant oil carriers. AFRA system was created in 1954 by Shell Oil  to standardize contract terms. Though relatively smaller than Very Large Crude Containers (VLCC) and the Ultra Large Crude Containers (ULCC), the tanker has a cargo carrying capacity between 70,000 and 100,000 metric tonnes. The average cargo carrying capacity of Aframax is approximately 750,000 barrels. Due to their favorable size, Aframax tankers can serve most ports in the world.…

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