Phase out of tanker tonnage – does it really matter to the market?
08 October 2009Whether the phase out of single hull and non-double hulled tankers becomes massive in 2010 or at the latest stage in 2015 does not really matter to the market.
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Whether the phase out of single hull and non-double hulled tankers becomes massive in 2010 or at the latest stage in 2015 does not really matter to the market.
Following a very welcome period of rate hikes due to the tough Winter in the northern hemisphere, the Spring is here now and the product tanker markets
Tanker investments these days are not a straightforward decision. A prospective buyer is faced with a combination of price pressure, regulatory uncertainties, long term demand concerns and limited near term yard availability, all of which are making ordering newbuild tankers a complex undertaking. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
For tankers, it feels like every other shipping sector has experienced some form of super cycle over the past 12-18 months. Whilst tanker owners witnessed record low earnings, rates in the container and LNG sectors soared to record highs. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
Crude oil and product tanker markets alike have faced high volatility in recent weeks and months, largely due to geopolitics and the constantly evolving situation in the global oil markets.
The tanker market is – even more so than before – all about geopolitics.
The latest VLCCs that have been reported as scrapped have joined a small, but up to recently growing number of tankers heading to recycling yards. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.
New tanker ordering activity has been restricted in recent years, most notably back in 2016, when just 76 tankers over 25,000 dwt were ordered. The weekly tanker market report by Gibson Shipbrokers.
2018 has been absolutely horrible for the crude oil tankers with freight rates and the fleet utilisation rate falling to a record low level.