OPEC+ throws tanker shipping a curveball, shaking confidence

“In classic Murphy’s Law fashion, shipping seems prone to misfortune,” lamented Stifel analyst Ben Nolan in the wake of Sunday’s surprise OPEC+ production cuts. “Things could not have been going more right for the tanker market” until OPEC+ gave tanker owners and investors a “poke in the eye.”

“OPEC+ blindsided oil and tanker markets,” said ship brokerage BRS.

OPEC+ countries, led by Saudi Arabia, agreed to cut production by 1.6 million barrels per day (b/d) starting in May. Analysts say actual...

https://www.freightwaves.com/news/opec-throws-tanker-shipping-a-curveball-shaking-confidence

Welcome to the dark side: The rise of tanker shipping’s ‘shadow fleet’

The European Union and G-7 nations, together with Australia and Japan, implemented sanctions against Russian refined products exports Feb. 5. Restrictions on Russian crude exports began Dec. 5. The system was designed to keep Russian cargo flowing — and it’s definitely still flowing.

“We see no indication that Russia will have to cut back its exports of crude or refined products,” said David Wech, chief economist of Vortexa, during a presentation Thursday.

And despite predictions to the contrary,...

https://www.freightwaves.com/news/welcome-to-the-dark-side-the-rise-of-tanker-shippings-shadow-fleet

Crude tanker rates down double digits after Russia sanctions debut

charts showing crude tanker rates

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The EU ban on Russian seaborne crude imports went into effect a month ago. This market-altering...

https://www.freightwaves.com/news/crude-tanker-rates-down-double-digits-after-russia-sanctions-debut

War and shipping stocks: Container, dry bulk, product tanker shares up

shipping stocks

The Russia-Ukraine war is the kind of geopolitics-altering event that should shake up trade flows for years to come, promising big repercussions for shipping shares.

A month into the conflict, American Shipper spoke with Randy Giveans, shipping analyst at Jefferies, about how the war is affecting — or not yet affecting — the stocks in different vessel segments.

There have been some big stock moves already, outperforming the broader stock market. But it’s still too early to see the full impact....

https://www.freightwaves.com/news/war-and-shipping-stocks-container-dry-bulk-product-tanker-shares-up

How low can tankers go? Analysts slash rate forecasts (again)

tanker shipping stocks

The outlook for tanker rates was already dicey. After the worst year in three decades in 2021 and a terrible start to 2022, analysts have just cut their rate forecasts and pushed back their recovery timelines, yet again.

As one tanker owner told brokerage Fearnleys, “The light at the end of the tunnel has been visible for quite some time, but right now it feels more like that’s a truck coming toward you.”

Jefferies

Jefferies analyst Randy Giveans cut his tanker rate estimates on Wednesday, the...

https://www.freightwaves.com/news/how-low-can-tankers-go-analysts-slash-rate-forecasts-again

As liner stocks keep rising, other shipping shares are stalling

shipping stocks

Mid-2020 to mid-2021 was a great stretch for ocean shipping stocks: Container and dry bulk shares rose by double and triple digits and even shares of embattled tanker owners posted gains.

That changed last fall. Shares of most container-ship leasing companies, crude tanker owners, product tanker owners and dry bulk owners are down since September.

But shares of container liner companies are proving to be the exception. They’ve recouped most of their autumn pullbacks and are gaining more ground...

https://www.freightwaves.com/news/liner-stock-prices-keep-rising-as-other-shipping-shares-stall

Crude tankers still bleeding cash. Stars aligned for 2022 recovery?

crude tankers shipping

Container shipping is having its best year ever and dry bulk shipping its best since pre-financial crisis. Crude-tanker shipping is having its worst year since the 1980s.

Tanker executives speaking on conference calls and analysts writing in client notes continue to highlight the green shoots, yet earnings remain stubbornly and deeply in the red.

On Wednesday and Thursday, tanker owners reported huge losses for Q3 2021: Euronav (NYSE: EURN) lost $105.9 million, Teekay Tankers (NYSE: TNK) $52.1...

https://www.freightwaves.com/news/crude-tankers-still-bleeding-cash-stars-aligned-for-2022-recovery

Why this tanker shipping depression is different from past slumps

tanker

Shipping busts can be even more exciting than shipping booms. When spot rates crash, debt comes due, vessels are arrested, bankruptcies pile up and vultures swoop in.

But not all shipping collapses are so action-packed. Sometimes things never devolve into total crisis mode. Sometimes the market gets stuck in limbo — like tankers are now.

Tanker rates have wallowed at or near historic lows throughout 2021, weighed by oil inventory destocking, COVID-struck demand and a stubborn aversion to...

https://www.freightwaves.com/news/why-this-tanker-shipping-depression-is-different-from-past-slumps

Which shipping stocks rose the most in wake of COVID pandemic?

shipping stocks

The stock market has boomed in the COVID era, driven by fiscal and monetary policy and surging retail-investor interest. Many ocean shipping stocks — with the glaring exception of tanker equities — have followed suit.

Which U.S.-listed shipping stocks rose the most?

Price gains arbitrarily depend on which date range you choose. For shipping, the current one-year range is perhaps the best gauge of stock moves.

Broader equity markets started rebounding in the third week of March 2020, after it...

https://s29755.pcdn.co/news/which-shipping-stocks-rose-the-most-in-the-wake-of-covid-pandemic

DHT Sells Vintage VLCC Trio

According to reports DHT Tankers sold 3 of its vintage VLCCs about three weeks back for $28.5m each, reports Splash 247.

Sale details

Sources confirm DHT Holdings’s co-chief executives Trygve Munthe and Svein Moxnes have let go of the ships for half a million more per unit.

Chinese interests are behind the acquisition of the 2004-built DHT CondorDHT Lake, and DHT Raven.

Chinese buyers have been behind most of the vintage VLCCs purchased this month.

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https://mfame.guru/dht-sells-vintage-vlcc-trio/

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