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Tanker Shipping - Low demand growth and an ever increasing fleet impact the market conditions negatively

16 August 2012

Overall annual oil demand growth in 2012 is now expected to come in at 0.9% by the IEA (+800,000 barrels per day), close to last year’s 0.8%, which was a 10-year low (excluding the contracting years of 2008/2009). The rise is exclusively originating from non-OECD countries. The outlook was modestly curtailed by early July on the back of the weaker global economic situation. This translates into a rather slim fundamental support to the tanker segment, but fortunately tanker shipping is so much more than overall oil demand.

Dry Bulk Shipping - Handling the supply side challenge remains top of the agenda

16 August 2012

The summer lull in the freight market is soon to be over as we enter into the seasonally-stronger final five months of the year. Hopefully, this will bring around higher earnings, but the outlook is unlikely to support a joyride similar to that of last year. The Baltic Dry Index (BDI) currently stands at 843 (August 6), a level which is 53% below the average of the final five months of 2011.

Dry Bulk Shipping - An unpleasant endurance race has begun for dry bulk owners, as healthy demand is overwhelmingly outstripped by oversupply

21 June 2011

The healthy demand picture of some 6% demand growth is what keeps the dry bulkers afloat. Despite the multiple disruptions that have already taken place, we see growing demand for almost all commodities. This has certainly prevented a meltdown of freight rates. Many people expected the current doldrums already last year, but extremely strong demand growth in 2010 postponed the hardship into 2011.

Tankers still in demand despite bleak outlook

15 March 2011

One year ago the tanker orderbook stood at 132 million DWT – today it totals 118 million DWT. The total orderbook is down by 11% over the last year. Even though new contracts are being signed at a steady pace, that pace remains slower than that of newbuildings being delivered.