Showing 51 - 60 of 200
In 2023, only seven product tankers with combined deadweight tonnes (DWT) capacity of 265,000 were recycled. This was a year-on-year drop of 82% compared to 1.5 million DWT (27 product tankers) recycled in 2022. It was also the lowest level of recycling seen since records began in 1996.
Following a very welcome period of rate hikes due to the tough Winter in the northern hemisphere, the Spring is here now and the product tanker markets
For product tankers, much of the past decade’s investment was focused on changing dynamics in the global refining scene. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Crude oil and product tanker markets alike have faced high volatility in recent weeks and months, largely due to geopolitics and the constantly evolving situation in the global oil markets.
Last year saw a notable increase in tanker demolition, recording the second highest number of tankers (above 25,000 dwt) scrapped since 2020 on the back of depressed industry earnings. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
For tankers, it feels like every other shipping sector has experienced some form of super cycle over the past 12-18 months. Whilst tanker owners witnessed record low earnings, rates in the container and LNG sectors soared to record highs. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
The tanker market is – even more so than before – all about geopolitics.
2018 has been absolutely horrible for the crude oil tankers with freight rates and the fleet utilisation rate falling to a record low level.
The latest VLCCs that have been reported as scrapped have joined a small, but up to recently growing number of tankers heading to recycling yards. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
New tanker ordering activity has been restricted in recent years, most notably back in 2016, when just 76 tankers over 25,000 dwt were ordered. The weekly tanker market report by Gibson Shipbrokers.
