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Tanker Shipping - Tight supply delivers rate spike in Suezmax, MRs hope for a busy Summer on the Atlantic as the US driving season kicks in (while VLCCs struggle in a really tough market)

13 June 2012

The demand picture for oil tankers is steady – perhaps a bit too steady if you look at the freight rate movements for VLCC crude oil tankers and MR clean product tankers. This stands in contrast to the spikes that Suezmax owners have achieved during the first five months of 2012.

Tanker Shipping - Tanker markets are in limbo – waiting for a better demand environment to make the day

12 August 2010

Demand: EIA has revised their oil demand forecast upwards for 2011. Global oil demand in 2011 is now expected to rise by 1.3 million barrels per day (MB/day) to 87.8 MB/day assuming consensus trends in the global economy, crude prices development and possible efficiency gains. Growth will be driven entirely by non-OECD countries (+3.8% or +1.6 MB/day), while the OECD sees resumed decline (-0.5% or -0.2 MB/day). The outlook for 2010 remains unchanged at 86.5 MB/day (+2.1% or +1.8 MB/day versus 2009).

Dry Bulk Shipping - New orders are still inked at high pace. 2012 is now set to be the biggest delivery year of them all at 88 million DWT

10 October 2010

Following the summer dip where Capesize was hit badly, dry bulk freight rates have once again bounced back like a tumbler. Capesize rates are back at year-to-date average around USD 30,000 per day. Capesize freight rates are moving like a heartbeat, but at lower and lower pulse levels and going deeper and deeper as more vessels enter the market. In spite of remaining inefficiencies in the supply chain, slow steaming, and continued strong demand for raw materials going forward, the big ships are in for a fundamental imbalance between supply and demand.

Need for rethinking about when to sail around the Cape of Good Hope?

22 April 2010

US President Obama has issued an Executive Order with the heading “Blocking Property of Certain Persons Contributing to the Conflict in Somalia”, which could have an impact on the possibility for paying ransom under some circumstances. The situation is not clear and perhaps some ship owners will consider how to address this situation before transiting the Gulf of Aden and the Somali Basin. On that background, we hereby include an updated version of our calculations regarding the cost part of the decision to go round the Cape of the Good Hope.

Tanker Shipping - Modest demand growth and continued oversupply sets the scene

13 December 2011

Overall, it’s noticeable that record numbers of fixtures and demand for tonnage only produce a short-lived spike at rather low altitudes – making little impact on stretched owners’ financial accounts. Ship owners without a solid cash balance and a strong, or at least sustainable, cash flow will find it increasing difficult to continue in this business at the present level and volatility.