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The International Chamber of Shipping (ICS) has announced that Guy Platten, the current head of the UK Chamber of Shipping, will be the next secretary general of ICS.
This year has seen a major increase in the Middle East clean product exports to Europe, with flows, mainly gasoil and jet, averaging at 0.82mbd for the year to date, up by 43% compared to the same period last year. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Global oil demand has never been higher, despite recent revisions. Demand is driven by growth in Asia, the Middle East, Latin America and FSU, while requirements in North America and EU are contracting in 2011 as well as in 2012. The IEA has revised down its demand outlook by 0.2 million barrels per day (mb/d) for 2011 to reach 89.3 and by 0.4 mb/d for 2012 to reach 90.7. Growth outlook now stands at a modest 1.1% in 2011 and 1.6% in 2012.
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