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.
18 January 2012
The world needs daring and decisive political leadership, especially in the EU and the US, for confidence and optimism to find its way to the consumers. Unfortunately, the political stalemate in the US continued throughout 2011
05 September 2016
Demand. Lower growth rates for refinery throughput and drawdowns on swollen oil stocks has impacted the seaborne tanker market negatively. BIMCO expected this to happen...
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).
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.
13 June 2010
VLCC freight rates settled down to around USD 45,000 per day in the second half of May but continue at sustainable levels that have been the norm in that market
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.
03 July 2018
The trade war adds painful uncertainty for the shipping industry, as it distorts the free flow of goods, changes trade lanes and makes it difficult for ship operators and owners to position their ships efficiently in the market.
21 February 2018
What will the future bring? Overall demand growth is expected to be lower than in 2017, but still high enough to potentially improve the fundamental market balance.
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.