No Sanctions: A Tanker Market Revival?

Credit: chris-pagan/ unsplash

Sanctions no more: A new era for the tanker market? asks a Tankers International news source.

US Sanctions

In an unexpectedly lenient move, the US announced last week that sanctions against companies trading in Venezuelan oil will be dropped. This provides an opportunity for a reshuffling of oil movements, particularly in the Atlantic basin, and with that comes a renewed focus on VLCC employment and impacts on the ‘dark fleet’.

As its sanctions are removed, Venezuela...

https://mfame.guru/no-sanctions-a-tanker-market-revival/

Global Recession To Cripple The Tanker Market?

Ever since inflation rose dramatically earlier this year and especially after oil prices increased. The Chinese economy, which is crucial for the tanker market, is suffering from Covid lockdowns and from a financial housing crisis After the attack on Ukraine, oil prices rose quickly to about US$130/bbl but recession fears have affected prices in recent months and they have declined to around US$100/bbl currently, reports Riviera.

Other crisis that affected the tanker market

The downturn in the...

https://mfame.guru/global-recession-to-cripple-the-tanker-market/

Views From Concordia Maritime on the Tanker Market

Views From Concordia Maritime on the Tanker Market, an article was published on Tanker Operators.

Tanker market

Our belief in a structurally driven strengthening of the tanker market from the second half of 2021 stands firm. In addition, we are now also seeing short disruptions having a quick effect on the market. This is a clear indication that, despite everything, we have a market in a relatively good balance. Kim Ullman, the CEO, Concordia Maritime, issued the following message on May 27

In...

https://mfame.guru/views-from-concordia-maritime-on-the-tanker-market/

Short Disruptions Lead To A Cascading Effect On The Tanker Market

Our belief in a structurally driven strengthening of the tanker market from the second half of 2021 remains intact. In addition, we now also see how short-term disruptions have rapid effects in the market. This clearly indicates that we, after all, have a market in relatively good balance, reports Concordia Maritime.

Fluctuations in the market

In recent times, we have once again been able to see how fast it can fluctuate in the tanker market – due to changes in the supply or transport flows of...

https://mfame.guru/how-short-disruptions-in-the-market-lead-to-cascading-effects/

Tanker Market To Expect Strong Demand On Post-Pandemic Recovery

The tanker market is set to benefit from the recovery of the global economy and trade as more oil is expected to enter the market in the coming months, reports Offshore Energy.

Demand for tankers

Easing of oil production restrictions by OPEC and depletion of world oil inventories are set to boost demand for tankers as more barrels are added to the market.

“With all of the stimulus spending, potential infrastructure spending, continued quantitative easing, strong consumer and business balance...

https://mfame.guru/tanker-market-to-expect-strong-demand-on-post-pandemic-recovery/

US maritime group fears waiver abuse by fuel shippers

A group representing U.S. domestic maritime interests has warned the Biden administration that the Jones Act waivers issued by the government to address fuel shortages could be used by shippers to make money off the crisis.

In a letter to President Joe Biden on Thursday, the American Maritime Partnership (AMP) urged the administration to reject any waiver of the Jones Act — a law that requires all cargoes moving domestically to be loaded into American vessels — unless U.S.-flag ships are...

https://s29755.pcdn.co/news/us-maritime-group-fears-waiver-abuse-by-fuel-shippers

US greenlights fuel transport by foreign ships

The U.S. Department of Homeland Security (DHS) has waived the Jones Act to allow a foreign shipping company to move domestic fuel supplies to help shore up fuel supplies on the U.S. East Coast.

“In the interest of national defense, I have approved a temporary and targeted waiver request to an individual company,” DHS Secretary Alejandro Mayorkas said in a statement late Wednesday.

“This waiver will help provide for the transport of oil products between the Gulf Coast and East Coast ports to ease...

https://s29755.pcdn.co/news/us-greenlights-fuel-transport-by-foreign-ships

Weekly Tanker Report – Week 15, 2021

The Baltic Briefing has issued the tanker report for the 15th week of this year. The report dated 16th April 2021 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

It has been a marginally better week for owners all round.

280,000mt Middle East to US Gulf trip 

In the Middle East Gulf the market for 280,000mt to US Gulf trip (routing via Cape/Cape) is assessed now half a point higher at WS18.75.

270,000mt to China 

The rates for 270,000mt...

https://mfame.guru/weekly-tanker-report-week-15-2021/

Growing Optimism in Tanker Market

With oil prices taking a turn upwards and demand expected to pick in the second half of the year, shipbrokers are examining whether this trend is a sign of a more bullish market ahead, which could benefit tankers as well, reports Gibson shipbrokers ltd.

Robust oil demand

In its latest weekly report, shipbroker Gibson said that oil prices are back above $60/bbl, their highest level since January 2020, before the Wuhan lockdown.

The report added, “In normal times rising prices typically suggest...

https://mfame.guru/growing-optimism-in-tanker-market/

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