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Macro Economics - Mixed global growth trends and modest job creation generates a very challenging setting

13 December 2011

By looking at the JPMorgan Global Manufacturing & Service PMI, it is clear that global growth is under pressure, as PMI output reaches the lowest level since mid-2009. The PMI data shows that global private sector output expanded at the weakest rate since the recovery began in August 2009. At 51.4, down from 52.0 in September, the output index indicated only a modest increase in economic activity.

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.