•  2017 was a standout year for the Suez Canal, with record oil shipments both northbound and southbound. Revenues, at $5.276bn, were second only to the record $5.465bn hit in 2014.

•  Northbound oil shipments – essentially those from Gulf countries to Europe and the Americas – remain more substantial than those in the opposite direction. But, as the surge in exports of crude, NGLs and oil products from the US (MEES, 5 January) boosts Atlantic Basin supplies,...