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Tanker Shipping - Crude oil tankers out-perform their oil product peers in a market full of surprises

15 August 2014

Some time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market. However, like other soon-to-arrive recoveries, the waiting time tends to increase as we approach the expected tipping point. This time around, global refinery throughput started the year strongly but entered a still running soft patch in May, high volumes but shorter hauls out of the US Gulf, and the steady inflow of new ships were part of the cocktail that prevented freight rates from taking off big time.

Tanker Shipping

14 April 2010

Floating storage is coming down on the narrowing of market contango, but persists in playing an important part in tanker demand