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Meet BIMCO’s Chief Shipping Analyst in Singapore

01 March 2018

BIMCO’s Chief Shipping Analyst will be visiting Singapore to be the moderator at BIMCO’s own seminar and networking event “Crude Oil Tankers: Road to Recovery”. Peter Sand will furthermore be participating in Maritime CEO Forum and a panel discussion at the 15th edition of Asia Pacific Maritime Conference. All three events are hosted in Singapore and will take place on 13-15 March 2018.

Tanker Shipping - Modest demand growth and continued oversupply sets the scene

13 December 2011

Overall, it’s noticeable that record numbers of fixtures and demand for tonnage only produce a short-lived spike at rather low altitudes – making little impact on stretched owners’ financial accounts. Ship owners without a solid cash balance and a strong, or at least sustainable, cash flow will find it increasing difficult to continue in this business at the present level and volatility.

Tanker Shipping - Record high global oil demand not enough to create sustainable rates.

09 October 2011

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.

Chinese crude oil demand needs 45 additional VLCC’s to support growth

31 October 2017

In 2019, global oil demand is forecast to pass the symbolic 100 million barrels per day threshold (International Energy Agency). Developing countries account for almost all of the growth and Asia dominate.  BIMCO stated in its forecast for 2017, that the tanker demand growth for 2017 is expected  to come predominantly from the greater Asia region, led by China. China has met expectations by ramping up its import of seaborne crude oil by 13% for the first nine months of 2017 compared to the same period last year. As China is importing crude oil from further afield in 2017 than in 2016, the tonne miles generated has surged 18%. 

Tanker Shipping

27 October 2009

Looking for a seasonal pick up while suffering unsustainable rates. Demand: According to figures from the International Energy Agency, global oil demand peaked in 2007 and is forecast to have bottomed out in the second quarter of 2009.