Scorpio Tanker

Global Refinery Maintenance Dents ‘Stronger For Longer’ Clean Market Outlook

Credit: Pixabay/Pexels
  • Global refinery maintenance topped 9.4 million barrels in April
  • Ton-mile demand estimated to grow 19.4% in 2022-2024 period
  • Americas MR spot freight tumbles 36%-45% in April

The ‘stronger for longer’ banter on the global clean tanker markets sums up Scorpio Tanker’s market outlook for the balance of the second quarter and the second half of the year, as the company attributes the substantial drop in clean tanker freight rates during the month of April to global refinery...

https://mfame.guru/global-refinery-maintenance-dents-stronger-for-longer-clean-market-outlook/

As Floating Storage Unwinds Vessel-Supply Turns Attractive

  • In the Covid era, tanker markets change more quickly and really matters in quarterly reports is what executives say about the present and future.
  • Two of the world’s largest public tanker owners — Euronav (NYSE: EURN) and Scorpio Tankers (NYSE: STNG)  revealed two key takeways in conference calls.
  • First, floating storage is coming down from its peak, faster for refined products than for crude oil.
  • Second, the medium-term vessel-supply picture looks increasingly attractive.

A recent news report...

https://mfame.guru/as-floating-storage-unwinds-vessel-supply-turns-attractive/

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