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.
07 August 2017
The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.
13 June 2013
Crude oil tankers in the mixed zone, whereas product tankers are feeling the first rays of sun between the clouds
19 February 2019
The International Monetary Fund (IMF) has revised down its predictions for global growth in 2019 and 2020. It forecasts growth to be 3.5% in 2019 and 3.6% in 2020. This means a dampening of global growth over the next two years, as growth in 2018 is estimated to be 3.7% The slowdown will affect both advanced and emerging economies.
25 November 2019
BIMCO expects freight rates will once again come under pressure after the end of the high seasonal demand in Q4, as well as the boost from the sulphur cap. The fleet growth of 6.3% in the crude oil tanker market and the 4.8% growth in the oil product fleet will have its consequences on the supply and demand balance.
12 June 2019
The tanker market is – even more so than before – all about geopolitics.
22 January 2020
Brazilian crude oil exports hit a record high in December 2019 with a total 8.7 million tonnes of crude oil exported, as China continues to turn to Brazil for crude.
30 May 2018
The impact of the sanctions against Iran and global stockpile levels are two factors to watch out for.
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.
12 December 2017
The United States (US) government lifted their restrictive policy on crude oil exports in December 2015. In September and October 2017, increased demand from Asia and Europe has caused US seaborne export of crude oil to surpass the US seaborne export of oil products in terms of billion tonne miles.