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Tanker market report dated 26 October 2018

29 October 2018

India, along with China has long been revered as a key driver of world oil demand growth. However, higher crude prices and a weaker rupee have seen domestic fuel prices surge. Now, with sanctions imminent against one of India’s largest suppliers, consumers could see further price rises which may impact on their purchasing power. This begs the question; can the crude market really rely on India to drive demand over the coming years in a higher price environment?   The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 21 December 2018

02 January 2019

2018 has been a year of extremes. For most part, trading conditions have been very challenging amid a persistent oversupply of tonnage, with spot earnings often well below operating expenses. TCE returns for VLCCs trading on the benchmark TD3C voyage from the Middle East to China averaged just over $11,000/day during the 1 st nine months of the year. However, since early autumn, notable increases in loadings out of the Middle East and strong demand from Asian refiners for Middle East and Atlantic Basin crudes have contributed to a very impressive rebound in earnings, with TD3C averaging in Q4 at over $50,000/day.  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 January 2019

07 January 2019

Late in 2018, China issued a raft of additional refined product export quotas to cope with a domestic oversupply of fuel. These additional volumes were partly responsible for the strength of the Asian product tanker market towards the end of 2018 and the persistent weakness in the Asian oil products markets. For many the question is therefore: what will Chinese refined product export volumes look like in 2019, and can they help sustain the regional product tanker market?  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 7 June 2019

18 June 2019

China officially increased tariffs up to 25% on $60 billion of US products from 1st June, following the US decision to increase tariffs on $200bn/year of imports from China to 25% from 10th May. Chinese imports of nearly every US energy commodity now face a tax of up to 25%. Crude is exempt, but China’s imports of US crude have fallen dramatically anyway since the 2nd half of 2018. Despite the trade conflict, US crude exports continue to grow. The loss of trade to China is being offset by higher shipments to other Asia Pacific countries and Europe. Similarly, Chinese crude imports continue to increase, with US barrels being replaced from multiple sources. As such, up until now the impact of US-China trade conflict on the crude tanker market has been very limited, although undoubtedly there would have been stronger long haul VLCC demand, if China had continued buying US crude.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 21 June 2019

21 June 2019

As we noted in our report dated 7th June, the slowing global economy, partly driven by the ongoing US-China trade war is starting to impact on world oil demand. An increasing number of agencies are factoring in an increased risk of an economic downturn into their projections. In May, the OECD lowered its forecast for global economic growth to 3.2%, whilst the Netherlands Bureau of Economic Policy Analysis recently claimed that world trade had fallen back to its slowest growth rate since the financial crisis.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 28 June 2019

02 July 2019

2019 so far has proved to be a year dominated by geopolitical events. The US Administration has placed sanctions on both Iran and Venezuela in a bid to reduce crude exports to zero. Tanker sabotage and disruption in the Middle East Gulf has pushed insurance premiums up and led to some shipowners to avoid the region. Potential disruptions to Libyan supply remain. The US-China trade war has threatened to generate an economic slowdown, adding further market uncertainty. Crude prices have ebbed and flowed, touching highs of $74.57/bbl in April and lows of $54.91/bbl in January as both supply, demand and geopolitical signals vie for supremacy.  The weekly tanker market report by Gibson Shipbrokers.

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.

Sale & purchase report dated 3 July 2018

04 July 2018

The slowdown in dry bulk activity might be temporary given the recent announcement from the Ministry of Transport in China that as of September all vessels imported in the country should satisfy at least Tier II emission standards, which gives window of just two months to local buyers wishing to invest in vessels not satisfying the criteria. The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers.

Sale & purchase report dated 10 July 2018

11 July 2018

The impact of the recently introduced requirements for vessel imports in China is already visible on the number of dry bulk deals, with a number of buyers moving to the sidelines for now and talk of failing deals heating up The weekly sale and purchase report by Intermodal Research & Valuations features secondhand sales market prices for crude oil- and oil product tankers, dry bulk carriers, container ships and gas tankers.

Dry Bulk Shipping - China holds the key to a strong bulk market

11 December 2013

It is safe to conclude already that it has been another truly amazing year for Chinese iron ore imports. A growth rate of 10.8% for the first 11 months as compared to the same period last year is solid. Evident also from the freight rate development in the Capesize market, the last 5 months have been exceptional, with 17.8% y-o-y growth for July-November.