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Tanker market report dated 23 November 2018

26 November 2018

Low water levels on the Rhine have remained a persistent problem for the European commodity markets since the summer, forcing many refineries and industrial plants to reduce production, and in some cases to declare force majeure. Whilst most industries would have expected and planned for such lows over the summer months, few would have expected these levels to persist, and indeed worsen as the markets move deeper into winter. Indeed, just as one might have seasonally expected levels to rise, they receded. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.