Aframax

Aframax is a widely used tanker size category describing medium-sized tankers of approximately 80,000 to 120,000 tonnes deadweight. Its unusual name is an acronym derived from the Average Freight Rate Assessment, or AFRA, a system created decades ago to standardise the assessment of tanker freight rates by size band; the size range associated with one of those bands became known as the Aframax, and the name stuck as a general description of the class. These ships carry both crude oil and, in coated versions, refined petroleum products.

The Aframax occupies an important niche below the larger Suezmax and VLCC classes. Its more moderate size means it can serve ports and trades that the giants cannot reach, including many regional and shorter-haul routes where a full cargo for a very large tanker would be impractical or where port depth and infrastructure limit ship size. Aframax tankers are prominent in regional crude trades (for example in the North Sea, the Mediterranean, the Caribbean and parts of Asia) and their flexibility makes them a versatile part of the tanker fleet.

Because they are defined by size, Aframax tankers form a distinct segment of the tanker freight market, with their own rate movements that reflect the demand for regional and medium-haul oil transport and the supply of ships in that size band. Brokers, owners and analysts follow the Aframax market alongside the Suezmax and VLCC markets as part of the overall picture of crude and product shipping. Together, these size classes, Aframax, Suezmax, VLCC and the smaller product-carrier sizes such as the MR, or Medium Range, tanker — make up the standard vocabulary of the tanker trades, each matched to particular routes, cargoes and ports, and the Aframax is one of the most numerous and commercially significant among them.