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Tanker market report dated 7 December 2018

10 December 2018

Canada’s benchmark heavy crude, Western Canadian Select (WCS), has seen its price slowly slide since mid-2018, trading at a record discount to WTI of over $50 bbl during October. A supply glut has seen prices continually dip, but the grade may finally be set for a reprieve after the Premier of the oil-rich Alberta region mandated a production cut of almost 9%, or approximately 325 000 b/d, in a bid to lift prices and deal with an oversupply. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 17 August 2018

20 August 2018

There are signs that tanker ordering is beginning to slow down. It is not unusual to see a reduction in ordering activity over the summer months, but since the beginning of June our records show just a handful of fresh tanker contracts have been placed. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 2 November 2018

02 November 2018

Sanctions are back. From Monday any company trading Iranian crude faces being cut out of the US financial system. The Trump Administration has stated its aim is to reduce Iranian shipments to zero, although few expect this to actually be the case. The Administration appears to have softened its stance, perhaps realising that zero exports are both unrealistic, and potentially economically damaging in terms of oil prices. This morning Bloomberg has reported that waivers are likely to be granted to eight countries, with the official confirmation expected early next week. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 24 August 2018

27 August 2018

For nearly two decades spectacular growth in Chinese crude imports has been the key driver behind rising crude tanker demand. Even in recent years shipments continued to increase at a very impressive rate, despite slowing economic growth, up on average by 0.85 million b/d per annum in 2016/17. Robust trade was supported by strong demand from the independent refiners, stockpiling into commercial and strategic inventories as well as the decline in domestic crude production. However, the dynamics could be changing. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 2 February 2018

04 February 2018

Weak, Crude and Depressed - For quite some time the consensus in the crude tanker market has been that 2018 will be a disappointing year in terms of industry earnings. However, the extreme weakness in spot TCE returns across all tanker categories in January still left many surprised The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 9 February 2018

12 February 2018

Consolidation Club - Consolidation has several strategic benefits for listed companies, as size does matter, making shares more liquid and more attractive to investors The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 16 February 2018

19 February 2018

Suezmax Snapshot - Crude tanker earnings across all sectors were challenged in 2017, not least the Suezmax sector, which saw net fleet growth of 45 units during the year. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 23 February 2018

26 February 2018

Go with the Flow - Last week the first test loading of a VLCC took place at the Louisiana Offshore Oil Port (LOOP), a successful culmination of the port’s efforts to modify one of its pipelines to accommodate the bi-directional flow of crude through the terminal The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 30 November 2018

03 December 2018

Ordering a new tanker is undoubtedly a big decision. More often than not the investment is driven by robust industry earnings, although at times the main reason is attractive asset prices, regulatory developments and/or the need for replacement tonnage. As the vessel’s trading life is typically around twenty years, the decision to order should also be considered against the backdrop of projected developments in tanker demand both in the short and in long term. Factors such as slowing growth in world oil demand and environmental concerns should also be taken into account.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 23 November 2018

26 November 2018

Low water levels on the Rhine have remained a persistent problem for the European commodity markets since the summer, forcing many refineries and industrial plants to reduce production, and in some cases to declare force majeure. Whilst most industries would have expected and planned for such lows over the summer months, few would have expected these levels to persist, and indeed worsen as the markets move deeper into winter. Indeed, just as one might have seasonally expected levels to rise, they receded. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.