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Tanker market report dated 19 July 2019

22 July 2019

Over the past few weeks, the West - East High Sulphur Fuel Oil (HSFO) arbitrage has firmed substantially from a fairly range bound $30/tonne to a bullish $46/tonne, briefly touching a four year high of $50/tonne last week. Several factors are behind this sudden widening.  The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 2 August 2019

05 August 2019

Historically, there has been a strong correlation between tanker spot and time charter rates, with period rates tracking (with some time lag) developments in the spot market. However, this year TC and spot values have moved in opposite directions. Spot earnings on benchmark trades gradually cooled over the course of this year, with returns in the clean tanker market reaching in July their lowest level this year. rude has performed somewhat better, but TCE returns have been weak nonetheless. In contrast, time charter rates have firmed, reaching in July their highest level since 2016/17. The biggest uplift has been seen in 1 and 3 year period assessements for eco VLCCs and LR2/Aframaxes. The weekly tanker market report by Gibson Shipbrokers.

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 market report dated 11 October 2019

14 October 2019

Without a doubt, the key driver of the growth in crude tanker demand this year has been US crude exports. Aframaxes have been by far the biggest beneficiaries of rising exports, both in terms of STS demand and actual trading. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 29 November 2019

02 December 2019

This week has seen freight rates for both clean and dirty Handies in the Black Sea and Mediterranean surge to record levels, showing some of same extreme volatility that the VLCCs saw just a month ago, albeit not for the exact same reasons. The weekly tanker market report by Gibson Shipbrokers.

Tanker market report dated 31 May 2019

03 June 2019

Many industries, including shipping, are facing an increasing environmental pressure to act upon the Paris Agreement. In April last year, the IMO’s Marine Environmental Protection Committee (MEPC) set out their initial strategy, which envisages the reduction of greenhouse gas (GHG) emissions by at least 50% by 2050 compared to 2008 levels. The ambition also is to reduce CO2 emissions (which account for about 82% of all GHG emissions) by at least 40% by 2030, pursuing efforts towards 70% by 2050 from the 2008 baseline.  The weekly tanker market report by Gibson Shipbrokers.