BIMCO Search Results

Results for: tanker reports

Showing 11 - 20 of 318

Filter by location

Tanker market report dated 2 August 2019

05 August 2019

Historically, there has been a strong correlation between tanker spot and time charter rates, with period rates tracking (with some time lag) developments in the spot market. However, this year TC and spot values have moved in opposite directions. Spot earnings on benchmark trades gradually cooled over the course of this year, with returns in the clean tanker market reaching in July their lowest level this year. rude has performed somewhat better, but TCE returns have been weak nonetheless. In contrast, time charter rates have firmed, reaching in July their highest level since 2016/17. The biggest uplift has been seen in 1 and 3 year period assessements for eco VLCCs and LR2/Aframaxes. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 30 August 2019

02 September 2019

If Boris Johnson gets his way, the ever-impending event that is Brexit will soon be upon us. Little has been said about the impact on the wider international tanker market, with the UK being a relatively small piece of global tanker trade; however, Brexit will have an impact, most notably on regional trade between the UK and EU.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 9 August 2019

13 August 2019

There may be few new frontiers left in the oil market, with most regions having been tested, even if deemed to be uneconomical in the current oil era. However, from next year there will be a new kid on the block - Guyana. Throughout history, Guyana has hardly made it onto the tanker map. Despite sharing a boarder with Venezuela to the north and Brazil to the south, the country has never produced oil on a commercial scale. Even from a demand perspective, the country imports only minimal volumes of refined products and has no domestic refining capacity.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 8 March 2019

11 March 2019

Refinery maintenance season is well underway. Scheduled turnarounds in North America may have peaked, but globally planned outages will peak this month, whilst works in Asia stay elevated through to May. High turnaround activity has already impacted both the crude and product tanker markets this quarter, however, evolution in global crude trade flows appears to be supporting tonne mile demand during what is typically a weak period. In the products sector, export volumes are now falling in line with seasonal trends but should be set for a strong rebound in the second half of 2019 as post maintenance export volumes increase. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

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.

Tanker market report dated 14 June 2019

17 June 2019

With US sanctions on Iranian crude exports now in full flow, Iran’s oil revenues are in quick decline, with sources quoting that they are already lower than under previous sanctions in 2012. As such, the policy to choke Iran of exporting crude seems to have had the desired effect. However, attempting to track any Iranian vessel movements has become very challenging, with most tankers having AIS transponders completely switched off.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 22 March 2019

25 March 2019

Earlier this month the IEA released its medium-term outlook for the global oil markets, which provides analysis and the forecast of the key issues in demand, supply, refining and oil trade through to 2024. The report portrays a positive outlook for oil demand growth, which is expected to continue to increase at a healthy pace, in line with the average growth rate seen since 2000. The gains in oil consumption are projected to average 1.2 million b/d per annum between 2018 and 2024, driven by the expansion of the petrochemical industry and the fast-growing aviation sector. Asia Pacific will see the fastest growth in consumption, accounting for 62% of the total increase in demand.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 5 April 2019

08 April 2019

Earlier in 2019, we published a market report into how the surge in Chinese refined product exports had a profound effect on the product tanker market. However, with significant new refining capacity coming online in China this year, it is important to assess where the additional crude supply will come from. With two of China’s key suppliers under sanctions, and many others participating in output cuts, procuring the additional volumes demanded may not be as simple as before. Where will China turn?  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 3 May 2019

06 May 2019

Much of the current market focus is on crude supply, with sanctions, outages and unplanned disruptions impacting on supply. But with IMO2020 just around the corner, fundamental changes in the products market are afoot, with the market dynamics set to drastically shift as we move closer to the end of the year. The market for middle distillates (primarily gasoil, diesel and jet fuel) could be set for a seismic shock – in stark contrast to current market fundamentals.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.