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Tanker market report 5 November 2021

08 November 2021

For the past two decades, the tanker market has benefited from strong, near continuous growth in Chinese crude oil imports. Consistent refining capacity expansions and flat crude production have left Chinese oil companies with little choice but to boost imports, whilst prior to the pandemic, Chinese refiners were increasingly using their advanced and efficient facilities to boost product exports across Asia and beyond. However, just as the global energy landscape is moving towards a lower carbon future, so is China. So, what does this mean for tankers? Can Owners continue to rely on China to drive oil demand in the decade ahead or is Chinese oil demand close to peaking? The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

Containerships overtake crude oil tankers as most scrubber-fitted sector

13 August 2020

Containerships with a collective cargo carrying capacity of 5.3m TEU are now fitted with an exhaust gas cleaning system (scrubber) to remove sulphur oxides (SOx) from the exhaust gasses generated by the combustion processes in marine engines and thereby comply with the IMO 2020 global sulphur regulation which came into force on 1 January 2020.

Tanker market report 24 September 2021

27 September 2021

The current strength in gas prices is having major ramifications for global energy markets. Record prices in Europe and Asia are forcing utility firms to look for alternative energy sources and have pushed some companies into bankruptcy. Many have been forced to burn more coal despite the environmental consequences, whilst oil-based fuels will also receive a demand boost in regions where oil fired power capacity still exists. With oil demand expected to find some support, could tankers finally receive the catalyst they have been longing for? The weekly tanker market report by Gibson Shipbrokers - features an overview of the crude oil and oil product tanker market.

Tanker market report dated 4 October 2019

07 October 2019

With most crude tanker markets surging to multi-year highs, many have questioned whether the clean sector should expect to experience the same fortunes. The last few days have seen product tankers firm both East and West, in some cases considerably. Now, many are questioning whether this recent firming the start of a more sustainable trend or merely a short-term blip? The weekly tanker market report by Gibson Shipbrokers.

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.