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Russia-China dirty tanker trade soars 94% y/y after Ukraine invasion

28 April 2022

China is the world’s largest importer of crude oil and Russia is the second largest crude exporter. Much of the crude oil trade between the two countries, however, is piped and the short distance from Far East Russia to China also limits the impact on demand for crude oil tankers. Still, a change in the Russia to China dirty trade has the potential to impact tanker tonne miles demand as it could come at the expense of longer trade lanes.

Tanker shipping: All eyes on oil market rebalancing – is it happening or not?

28 August 2017

The global tanker industry is directly linked to the global oil industry. Right now, demand for seaborne transport of oil is below normal and fleet growth is high, which means that the fundamental balance is uneven. The result is declining tanker earnings with the main culprit being the fast-growing fleet.

Tanker market report 17 December 2021

20 December 2021

Although freight levels in some shipping sectors reached breath-taking highs this year, 2021 is a year to forget for tankers, particularly in the crude segment. The majority of crude tonnage (non-eco, non scrubber) was forced to operate at sub-zero levels for large parts of 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 29 June 2018

02 July 2018

It’s not unusual for newbuild crude tankers to carry clean cargoes on their maiden voyage. However, with the crude tanker market in a depressed state of late, charterers have sought to take advantage to secure competitive freight costs on product flows from East to West. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.