Tanker market report dated 22 February 2019 04 March 2019 After falling to $50/bbl in late December, Brent and heavy sour Oman crude prices have recovered to over $67/bbl. OPEC’s decision in December to cut production by almost 800,000 b/d for an initial period of six months seems to have had the desired effect of lifting flailing crude prices, which traded at $85/bbl in October. Although prices are still considerably lower compared to those recent highs, it is so far an encouraging sign. IEA numbers released last week showed a decrease in OPEC production of just under 1.2 million b/d from October levels, an overcut of almost 400,000 b/d due to over compliance from producers such as Saudi Arabia. When taking ‘non-OPEC’ production cuts into consideration, the total cut for January totalled over 1.3 million b/d. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market. Market reports Tanker reports
Tanker market report dated 15 March 2019 18 March 2019 Opec crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years. February numbers show a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target. Iraq and Saudi Arabia alone contributed 170,000 b/d in additional cuts between them in February alone. However, having already cut production close to their original 2019 target, they may now be missing the opportunity to capture market share in the face of rising demand. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market. Market reports Tanker reports
Tanker market report dated 20 March 2020 24 March 2020 This week global crude benchmarks plummeted to their lowest levels in 18 years, as Saudi Arabia and Russia became embroiled in an oil price war coinciding with a period of colossal demand destruction, threatening the future of the growing US shale industry. The weekly tanker market report by Gibson Shipbrokers. Market reports Tanker reports
Missile attack or suicide boat? Claim and counter claim by both sides in Saudi Arabian warship attack in the Red Sea 01 February 2017 Members are advised of the UK MTO advisory published yesterday concerning the attack in the Red Sea. News story Security Red Sea
As oil prices plummet, crude oil tanker time charter rates skyrocket 02 April 2020 Geopolitics is the dominating variable in the tanker market these days. With the OPEC+ negotiations falling apart and Saudi Arabia initiating an oil price war, the crude oil tanker spot freight rates, and time charter (TC) rates have soared. Market analysis Market reports Tanker Container Dry cargo Macro
Tanker Shipping - crude oil tankers in the mixed zone 13 June 2013 Crude oil tankers in the mixed zone, whereas product tankers are feeling the first rays of sun between the clouds Market analysis Tanker
Tanker Shipping - primarily positive prospects for products 13 February 2013 ”The smaller the better” seems to be the mantra in the tanker segment these days. Whilst all crude tanker segments enjoyed a spike in earnings in late December, the subsequent drop hit the VLCC much harder than the Aframax segment. Market analysis Tanker
Tanker Shipping: A boost from the 2020 sulphur cap will not make up for a fast-growing fleet. 17 September 2019 Even with the sulphur cap expected to give a boost to the tanker market, high fleet growth will put pressure on earnings. Market analysis Macro Tanker
Tanker Shipping: Geopolitics and overall fleet growth are the main drivers 20 February 2019 The oil market is notoriously linked to geopolitics. Most recently, the political situation in Venezuela creates turmoil in the region and particularly affects crude oil exports. Market analysis Tanker Macro
