12 December 2012
Persistent weakness in Europe and the impact of Hurricane Sandy led to the International Energy Agency (IEA) cutting its global oil demand forecast for Q4-2012 down to 90.1 million barrels per day.
25 November 2020
This year, tanker shipping will not benefit from the usual strong winter seasonal effect. Though the new lockdowns being introduced in many countries are less strict than in the spring, the effect on tanker shipping will be worse, given the oil supply glut of Q2.
21 September 2020
BIMCO and the Association of Ship Brokers & Agents (U.S.A.), Inc. (ASBA) have approved a voyage charter party, ASBAGASVOY, for publication to serve the growing gas tanker industry. Work will now begin to revise ASBATANKVOY, one of the most used tanker charter parties in the world.
05 October 2020
Since the beginning of last year less than 60 tankers over 25,000 dwt have been scrapped, roughly half of what was scrapped in 2018. In particular, just 4 VLCCs have been demolished over the period, compared to 38 in 2018. Weekly tanker market report by Gibson Shipbrokers.
29 June 2020
In early June the US Treasury department added several tankers to its Venezuela sanctions lists for allegedly lifting oil from the country between mid-February and late April this year. It does appear, however, that sanctions were applied only to the vessels in question, with limited broader legal exposure. Weekly tanker market report by Gibson Shipbrokers.
13 January 2020
This year started on a positive note for tankers. Healthy earnings were seen in early 2019 supported by strong demand at the time, weather factors and flat fleet growth, following robust demolition activity back in 2018. The weekly tanker market report by Gibson Shipbrokers.
08 July 2019
The recent explosion at Philadelphia Energy Solutions’ (PES) 335,000 b/d Philly refinery has come at an opportune time for product tankers trading in the Atlantic, whilst the decision to permanently shut the facility will have longer term implications for product supplies into the US Atlantic Coast. The weekly tanker market report by Gibson Shipbrokers.
13 August 2018
2018 has been a horrible year for product tanker owners, with sale and leasebacks being necessary for many to provide a financial bridge to better times. Many are pinning their hopes on 2020; which, as we have written in the past is expected to be supportive for product tankers. However, many are also hoping that new refinery developments will offer a further boost to tonne mile demand, similar to what was seen from 2014-2016. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
05 May 2017
January struck an upbeat tone for demolition in all sectors, but the overall pace of fleet renewal, via demolition, has slowed down since then.
30 April 2018
The acceleration in VLCC demolition activity this year has frequently been in the headlines late. As more tankers head to the beaches, this gives shipowners some cause for optimism in the future, particularly taking into account the current depressing market. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.