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Tanker Shipping - Recent positive development spurs optimism amongst crude tanker owners as VLCC earnings remain comfortable

11 April 2012

The positive demand picture that was firming freight rates on benchmark routes in all crude tanker segments towards the end of 2011 and the first two months of 2012 is still hanging around. Almost the same – that is, as Aframax tanker have seen earnings on the benchmark route in the North Sea drop during February to touch the ground before taking rates to currently USD 10,500 per day.

Libya getting back into tanker business

25 August 2011

Hope for resumed activity in the oil tanker business is growing as the rebellion in Libya appears to be near a conclusion. Tanker shipping has been hurt by the lack of cargoes out of Libya for half a year now. Oil majors and oil service companies are right now getting back to Libya to assess the conditions of the facilities. It is hoped that the oil production can restart soon, opening up for renewed fixing of tankers to lift Libyan oil exports. Without Libyan oil exports, there is no hope for improvements in the tanker rates in the Mediterranean.

Macro Economics - Global recovery is taking a breather before growth is expected to resume at a higher pace in the second half of 2011

20 June 2011

The speed of the global recovery has slowed down over the past couple of months, but the prospects for stronger growth in the second half of the year remain intact, as the underlying growth trend as well as job creation continues. But sustaining this may be highly dependent on output and demand solidifying in the coming months.