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Tanker market report 18 August 2023

21 August 2023

For product tankers, much of the past decade’s investment was focused on changing dynamics in the global refining scene. The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

Tanker attacked from the air

17 November 2022

On the eve of 15 November the Liberian flagged tanker Pacific Zircon was attacked by an unmanned aerial vehicle. The tanker is associated with Israeli economic interests.

Updated Version 6 of the Q88 Questionnaire for tankers

07 March 2024

The updated version 6 of the Q88 questionnaire is adding innovations to the data submission process and questionnaire layout, while also expanding its criteria to cover frequently requested safety and sustainability information.

Dry bulk and tanker newbuild contracts 20% higher than 2016

23 June 2017

BIMCO expected newbuild activity to pick up, so the recent development is not surprising. It is however not what the industries needs. As the dry bulk -, crude oil - and oil product tanker shipping sectors are all struggling with very low freight rates, it is important that the recent development in contracting activity reflects a short-term trend.

US dirty tanker export demand jumps 33% year-on-year

13 September 2023

During the first eight months of 2023, US dirty tanker export demand increased 33% year-on-year while the global dirty tanker exports increased only 5%. Measured in deadweight tonne miles, US exports now account for 14% of global dirty tanker demand.

Tanker shipping: All eyes on oil market rebalancing – is it happening or not?

28 August 2017

The global tanker industry is directly linked to the global oil industry. Right now, demand for seaborne transport of oil is below normal and fleet growth is high, which means that the fundamental balance is uneven. The result is declining tanker earnings with the main culprit being the fast-growing fleet.

Russia-China dirty tanker trade soars 94% y/y after Ukraine invasion

28 April 2022

China is the world’s largest importer of crude oil and Russia is the second largest crude exporter. Much of the crude oil trade between the two countries, however, is piped and the short distance from Far East Russia to China also limits the impact on demand for crude oil tankers. Still, a change in the Russia to China dirty trade has the potential to impact tanker tonne miles demand as it could come at the expense of longer trade lanes.