06 November 2017
This is the highest global oil demand ever but it's also a large and growing fleet. What the tanker market needs most right now is more tankers engaged in floating storage facility.
06 September 2017
The Philippine government has decided to tighten security regarding entry of certain nationalities into the Philippines.
28 August 2017
The global tanker industry is directly linked to the global oil industry. Right now, demand for seaborne transport of oil is below normal and fleet growth is high, which means that the fundamental balance is uneven. The result is declining tanker earnings with the main culprit being the fast-growing fleet.
10 March 2017
This is the latest in a series of reports supplied by the Chamber of Shipping of America (CSA) with the intention of keeping BIMCO members appraised of legislative developments in the US affecting international shipping. BIMCO highlights only the relevant developments that would impact members. The full CSA report is also provided.
01 February 2017
19 August 2016
19 January 2016
16 March 2015
Demand for crude oil and oil product tankers is currently strong and both segments are enjoying an extended winter season with high earnings.
15 August 2014
Some time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market. However, like other soon-to-arrive recoveries, the waiting time tends to increase as we approach the expected tipping point. This time around, global refinery throughput started the year strongly but entered a still running soft patch in May, high volumes but shorter hauls out of the US Gulf, and the steady inflow of new ships were part of the cocktail that prevented freight rates from taking off big time.
21 September 2020