Peter Sand

Scrubber-fitted Ships Doubled After IMO 2020 Launch

According to BIMCO data, the number of scrubber-fitted ships has nearly doubled from 2,011 ships to 3,935, says an article published in Offshore Energy.

Scrubber-fitted ships 

Since January 1, 2020, the number of scrubber-fitted ships has nearly doubled from 2,011 ships to 3,935 between January 1, 2020 and March 1, 2021, data from BIMCO shows.

To meet IMO 2020 regulations

Scrubbers have been a very attractive solution for meeting the IMO 2020 regulation on cutting the sulphur content in marine...

https://mfame.guru/scrubber-fitted-ships-doubled-after-imo-2020-launch/

Freight Rates Slump To 12 Month Low As Oil Production Cuts & Demand Sets In

A stunningly strong 12 months for the tanker shipping industry is now being replaced by lower freight rates, as lower oil production and demand sets in across the globe, writes BIMCO CEO, Peter Sand in an article published on their website.

Only China bucks this trend with record-high crude oil imports, benefiting from the low oil price. Given the global recession and lower transport demand, however, the tanker industry is set for some challenging months.

Demand drivers and freight rates
  • Crude...

https://mfame.guru/freight-rates-slump-to-12-month-low-as-oil-production-cuts-demand-sets-in/

Containerships Beating Tankers on Scrubber Retrofits

  • As the 2020 debate shifted from scrubbers to covid19, a steady uptick in scrubber retrofit is seen
  • Containerships seem to have opened up to it and is quite surpassing tanker retrofits
  • despite longer time of scrubber retrofit in containerships, shippers are going for it
  • scrubbers have become an economically sound option says, BIMCO CEO, Peter Sand

As 2020 moves towards its end, a new champion of scrubbers are emerging, says BIMCO CEO, Peter Sand in his new article published on the company...

https://mfame.guru/containerships-beating-tankers-on-scrubber-retrofits/

Oil Tanker Market Driven By External Forces Like Geopolitics: BIMCO

Crude oil and product tanker markets alike have faced high volatility in recent weeks and months, largely due to geopolitics and the constantly evolving situation in the global oil markets, writes BIMCO CEO, Peter Sand, in an article published on their website.

Freight Rates Driven By External Forces?

The first major disturbance since the fall in the oil price between Q4 2104 and Q1 2016 came in the fourth quarter of 2019, after which freight rates have bounced back despite a collapse in demand.

In...

https://mfame.guru/oil-tanker-market-driven-by-external-forces-like-geopolitics-bimco/

Low Bunker Price the Only Advantage for Carriers!

The Covid-19 crisis has – and will continue to – hit the container shipping market hard, and the current economic situation provides no hope for a short-term recovery, writes BIMCO CEO, Peter Sand, in an article published on their website

Demand drivers and freight rates

The coronavirus pandemic looks set to continue to hammer container shipping demand. While the lower demand that came when China shut down much of its manufacturing in February has passed, it was been replaced by a demand...

https://mfame.guru/low-bunker-price-the-only-advantage-for-carriers/

Massive Trade Losses in COVID19 Shutdown!

industrial port with containers

No V-shaped recovery in sight after the large-scale shutdown of economic activity and the virus poses a risk to globalisation, says BIMCO CEO, Peter Sand in an article published on their website

No Uptick in Economic Activity

The global economy and world trade are being battered by the widespread and comprehensive measures to limit the spread of Covid-19. Even though some countries have started easing their lockdown measures – such as in China – there has been no...

https://mfame.guru/massive-trade-losses-in-covid19-shutdown/

Tanker Shipping To Be Under Pressure in 2020, Says BIMCO CEO

Geopolitical tensions have now eased, leaving freight rates to feel the full effects of the weak underlying market and falling demand, writes BIMCO CEO, Peter Sand in an article published on their website.

According to Peter Sand, Tanker shipping looks set to be under pressure for the rest of the year.

Demand drivers and freight rates

The tanker shipping industry was once again caught in a whirlwind, as freight rates skyrocketed with little regard to the poor market fundamentals before the latter...

https://mfame.guru/tanker-shipping-to-be-under-pressure-in-2020-says-bimco-ceo/

Crude Tanker Rates Double As Oil Prices Plummet

  • The coronavirus outbreak continues to drag on economic growth, and particularly dampen demand for oil products.
  • Removal of sanctions on a large Chinese tanker entity by the US government lifted the market in Q4 2019.
  • In March 2020, the 1-year TC rate for a VLCC reached USD 58,750 per day.
  • The premium for a scrubber-fitted VLCC on a 1-year TC has been cut in half from USD 10,000 per day on 10 January to USD 5,000 per day on 27 March 2020.
  • Total production estimated at 102.2 million barrels per...

http://mfame.guru/crude-tanker-rates-double-as-oil-prices-plummet/

BIMCO: Tanker deliveries are soaring as demolitions hit decade-lows

Peter Sand

BIMCO: Tanker deliveries are soaring as demolitions hit decade-lows

Delivered tonnage of crude oil tankers have grown by +37%, whereas total fleet demolitions for 2019 have slumped to the lowest in a decade with a reduction of 52% from the year before.

Full story here, including all graphics:

https://www.bimco.org/news/market_analysis/2019/20191016_tanker_deliveries_are_soaring

Tanker deliveries are soaring as demolitions hit decade-lows

Delivered tonnage of crude oil tankers have grown by...

http://www.allaboutshipping.co.uk/2019/10/19/bimco-tanker-deliveries-are-soaring-as-demolitions-hit-decade-lows/

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