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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 30 August 2019

02 September 2019

If Boris Johnson gets his way, the ever-impending event that is Brexit will soon be upon us. Little has been said about the impact on the wider international tanker market, with the UK being a relatively small piece of global tanker trade; however, Brexit will have an impact, most notably on regional trade between the UK and EU.  The weekly tanker market report by Gibson Shipbrokers.

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.

Tanker market report dated 20 September 2019

24 September 2019

Over the next 5 years, the global refinery landscape will continue to evolve, with the IEA projecting that over 9 million b/d of new capacity will be added, roughly twice the level of refined products demand growth over the same time period.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 24 May 2019

27 May 2019

Many tanker market participants have placed significant faith that both fundamental developments and short term disruptive factors will push the products tanker market into an upcycle over the next few years. Much has been said about how new refining capacity in Asia, coupled with IMO2020 will create sizeable arbitrage opportunities from East to West, giving a substantial boost to the product tanker market. Whilst this view is certainly reasonable, the reality is not quite so simple. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 6 September 2019

09 September 2019

The so called 'War on Plastics' has been steadily gaining traction over the past few years, with major companies such as McDonald’s and Carlsberg, to name a few, seeking to reduce the presence of single use plastics in their businesses.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 26 July 2019

29 July 2019

During the first week of July, the well documented arrest of the 300,000 dwt ‘Grace 1’ by the British government caused tensions to spike between Iran and the West. Iranian retaliations to arrest a British flagged vessel, the Stena Impero, in the Straits of Hormuz have seen numerous statements calling for calm amidst the mayhem of political games. The current state of affairs has sparked tales of the Suez Crisis and the Gulf War, so why has there been minimal impact on freight rates and crude prices?  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 12 July 2019

15 July 2019

It is official. After weeks of speculation and some minor reshuffling in terms of meeting dates, in early July OPEC+ announced the extension of their production cuts for another nine months until the end of the 1st quarter of 2020.  The weekly tanker market report by Gibson Shipbrokers.