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Tanker market report dated 7 May 2020

11 May 2020

In recent weeks reports about floating storage have featured in the international press. In the 2nd half of April Reuters reported that oil held in tanker floating storage reached at least 160 millio barrels, including 60 VLCCs, up massively from levels witnessed just a couple of months ago. The weekly tanker market report by Gibson Shipbrokers.

Newbuilding report dated 7 August 2018

08 August 2018

August debuted with reports of softer activity in the newbuilding market, while given the strong momentum in which orders have been coming through during the biggest part of the summer, a slow-down was long due. The weekly newbuilding report by Intermodal Research & Valuations feature, include newbuilding prices for dry bulk-, tanker- and gas shipping segments. Additionally, recent newbuilding orders are listed by units, type, size, yard, expected delivery date and price.

Tanker market report dated 17 April 2020

20 April 2020

A week after the biggest deal in oil history was agreed, the oil price has eased off and the contango spread in crude futures is wider than before the deal was signed. The markets seem underwhelmed. The weekly tanker market report by Gibson Shipbrokers.

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.

Tanker market report dated 15 March 2019

18 March 2019

Opec crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years. February numbers show a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target.  Iraq and Saudi Arabia alone contributed 170,000 b/d in additional cuts between them in February alone. However, having already cut production close to their original 2019 target, they may now be missing the opportunity to capture market share in the face of rising demand. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 26 June 2020

29 June 2020

In early June the US Treasury department added several tankers to its Venezuela sanctions lists for allegedly lifting oil from the country between mid-February and late April this year. It does appear, however, that sanctions were applied only to the vessels in question, with limited broader legal exposure. Weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 5 October 2018

08 October 2018

 The highlight of this week’s trading has been an impressive spike in spot VLCC rates, with daily TCE earnings up to their highest level since April last year. The Middle East and West African markets have been supported by an extended period of healthy enquiry from Asian buyers, although weather delays in the Far East have also helped.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.