BIMCO Search Results

BIMCO Search Results

Results for:Tanker reports

Showing 111 - 120 of 350

Filter by location

Tanker market report dated 5 July 2019

08 July 2019

The recent explosion at Philadelphia Energy Solutions’ (PES) 335,000 b/d Philly refinery has come at an opportune time for product tankers trading in the Atlantic, whilst the decision to permanently shut the facility will have longer term implications for product supplies into the US Atlantic Coast.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 22 February 2019

04 March 2019

After falling to $50/bbl in late December, Brent and heavy sour Oman crude prices have recovered to over $67/bbl. OPEC’s decision in December to cut production by almost 800,000 b/d for an initial period of six months seems to have had the desired effect of lifting flailing crude prices, which traded at $85/bbl in October. Although prices are still considerably lower compared to those recent highs, it is so far an encouraging sign. IEA numbers released last week showed a decrease in OPEC production of just under 1.2 million b/d from October levels, an overcut of almost 400,000 b/d due to over compliance from producers such as Saudi Arabia. When taking ‘non-OPEC’ production cuts into consideration, the total cut for January totalled over 1.3 million b/d.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 14 June 2019

17 June 2019

With US sanctions on Iranian crude exports now in full flow, Iran’s oil revenues are in quick decline, with sources quoting that they are already lower than under previous sanctions in 2012. As such, the policy to choke Iran of exporting crude seems to have had the desired effect. However, attempting to track any Iranian vessel movements has become very challenging, with most tankers having AIS transponders completely switched off.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 23 August 2019

26 August 2019

In January 2019 the Trump administration announced tough sanctions against PDVSA, designed to halt US imports of Venezuelan crude. The US government also blocked access to its financial system for PDVSA transactions. Overall, sanctions have had the desired effect. Crude trade to US refineries came to a halt since February, down from approximately 0.5 million b/d in 2018. US also stopped exporting clean petroleum products (CPP) to Venezuela, most notably naphtha, used to dilute extra heavy grades to make synthetic crude for exports. Venezuela was largely unable to find a replacement for US clean products, with the volume of CPP imports into the country down by more than 50% compared to levels in 2018. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 16 August 2019

19 August 2019

In recent months, the IEA has on many occasions expressed concerns about the health of the global economy. As such, it is unsurprising the latest downgrade by the international Monetary Fund of its outlook for global GDP growth in 2019 and 2020 prompted similar downward revisions to oil demand. This month the IEA has revised its expectations for growth in world oil consumption by 100,000 b/d, down to 1.1 million b/d in 2019 and 1.3 million b/d in 2020. Some trading houses are even more bearish, predicting just 800,000 b/d growth this year.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 20 December 2019

13 January 2020

This year started on a positive note for tankers. Healthy earnings were seen in early 2019 supported by strong demand at the time, weather factors and flat fleet growth, following robust demolition activity back in 2018. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 11 January 2019

14 January 2019

It is fair to say the US crude exports have transformed the global oil markets since the crude export ban was lifted by Congress at the end of 2015. Crude exports have risen at a considerable rate, placing the US in the market as a major exporting player. Whilst OPEC have been busy cutting production, the Americans have been steadily increasing their market share. However, the question is; can production continue to rise at this pace?  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 22 March 2019

25 March 2019

Earlier this month the IEA released its medium-term outlook for the global oil markets, which provides analysis and the forecast of the key issues in demand, supply, refining and oil trade through to 2024. The report portrays a positive outlook for oil demand growth, which is expected to continue to increase at a healthy pace, in line with the average growth rate seen since 2000. The gains in oil consumption are projected to average 1.2 million b/d per annum between 2018 and 2024, driven by the expansion of the petrochemical industry and the fast-growing aviation sector. Asia Pacific will see the fastest growth in consumption, accounting for 62% of the total increase in 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 8 March 2019

11 March 2019

Refinery maintenance season is well underway. Scheduled turnarounds in North America may have peaked, but globally planned outages will peak this month, whilst works in Asia stay elevated through to May. High turnaround activity has already impacted both the crude and product tanker markets this quarter, however, evolution in global crude trade flows appears to be supporting tonne mile demand during what is typically a weak period. In the products sector, export volumes are now falling in line with seasonal trends but should be set for a strong rebound in the second half of 2019 as post maintenance export volumes increase. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 10 January 2020

13 January 2020

2020 is already turning out to be a highly volatile year. Most tanker freight markets have remained extremely firm over the first two weeks of January whilst geopolitical risk has ratcheted up once again. The weekly tanker market report by Gibson Shipbrokers.