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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.

COSCO chair receives BIMCO President’s award

04 March 2019

Captain Xu Lirong, Chairman of COSCO Shipping, received the President’s Award at the BIMCO Conference in Shanghai for his excellent life-long service to the shipping industry. China Merchants Energy Shipping received the award for Best Shipping Company of Greater China Area 2019.

Container Shipping: The many pitfalls in the coming months will decide the fate of the year

19 February 2019

European containerised imports look likely to be stuck with demand growth of no more than 2% for years to come. That means the long-hauls into northern and southern Europe, where Ultra Large Containerships are perfectly suited to reap the benefits of economies of scale, will suffer unless cascading is accelerated.

Macroeconomics: Trade tensions and rising risks lead to slowing growth

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.

Tanker Shipping: Winter is coming, random shocks can be powerful, but only fundamental improvements last

20 November 2018

The continued severity of the tanker market conditions has made owners dig deep into the oversupply of capacity. Still BIMCO expects the tanker fleet to keep growing. A short-term rate recovery is not expected, as it is ‘maintenance season’ for the global refining industry in September and October.

Eyes on Asia as BIMCO develops new gas contracts

19 November 2018

BIMCO will begin work on two gas-related contracts in early 2019, an LNG (Liquid Natural Gas) Bunker Purchase Contract and a LPG (Liquid Petroleum Gas) voyage charter party.

Macroeconomics: Adverse trade politics and rising trade barriers are challenging the industry

19 November 2018

The effects of rising barriers to trade, capital flowing out of emerging market economies, and the elevated geopolitical risk are now clear to everyone.

No US Crude oil exports to China for second month in a row

07 November 2018

For the seventh month in a row total US crude oil exports excluding china hit a new all-time high reaching 7.9 million tonnes in September.

US Crude Oil Exports to China drop to zero in August

09 October 2018

Total US crude exports to all destinations other than China hit a new all-time high in August at 6.96 million tonnes.

Dry cargo fixture and market reports dated 3 October 2018

04 October 2018

HANDYSIZE: Continuing the positive trend from September, the BHSI further climbed despite the holidays in Asia and German today. The Baltic Exchange daily fixture report features daily updates on the Baltic exchange indexes, timecharters, periods, voyage fixtures and is listed by ship name, size, delivery place and freight rate. The weekly dry bulk market report by the Baltic Exchange contains news impacting the following segments; capesize, panamax, supramax and handysize.