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Consolidated MLC Text 2019

05 February 2019

The International Labour Organisation (ILO) celebrated its 100 years by issuing a new consolidated text of the Maritime Labour Convention, as amended (MLC,2006)  which includes the 2014 and 2016 amendments. 

Tanker market report dated 10 August 2018

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.

Tanker market report dated 4 May 2018

07 May 2018

Opec’s decision in November 2014 to remove all production limits hit Venezuela particularly hard as the oil price fell to historically low levels. As a result, the nation’s economy slumped from what was already a precarious position and despite the country sitting on the world’s largest proven oil reserves. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 20 April 2018

23 April 2018

Last night saw Ice Brent close at $73.78/bbl, the highest since November 2014. Oil prices have been on a rollercoaster journey over the past four years. 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 June 2020

08 June 2020

Anyone who has worked in the tanker market for the last decade will be familiar with the story about the demise of old refineries in Europe in the face of stiff competition from newer, more efficient facilities in the East and the United States. Yet, in the last oil price crash (2014-2016), refineries in Europe had somewhat of a renaissance as lower prices boosted margins, and the story, which many product tanker owners used to beat the drum with investors, never fully materialised.  Weekly tanker market report by Gibson Shipbrokers.