Tanker shipping Archives - Page 19 of 19

IMF develops real-time intel on container, tanker, bulker moves

24 May 202015 May 2020

The modern history of global trade will be divided into B.C. and A.C. — before-corona and after-corona. What happened B.C. might as well have occurred in an alternate universe and the pace of change A.C. is so frenetic that even one-month-old data has lost much of its value.

With make-or-break business decisions in the balance, the focus has predictably turned to data that signals future trends, such as container-shipping “blank sailing” information from companies such as eeSea and...

https://s29755.pcdn.co/news/imf-develops-real-time-intel-on-container-tanker-bulker-moves

Stranded crew crisis is ticking time bomb for global trade

24 May 202013 May 2020

You may have read those Kafkaesque stories about seafarers marooned on cargo ships month after month, unable to go home at the end of their work contracts due to COVID-19 travel restrictions.

You may have thought, “How unfortunate,” then turned your attention back to your own pressing business problems amid the pandemic.

A crisis for an Indian seafarer stuck on a Liberian-flagged ship because Indonesian authorities won’t allow passage to the airport may seem distant from the challenges of a U.S....

https://www.freightwaves.com/news/stranded-crew-crisis-is-ticking-time-bomb-for-trade

Tanker veteran warns on rates: The storm is coming

24 May 20208 May 2020

Diamond S Shipping (NYSE: DSSI) capped a blockbuster run of tanker earnings with an announcement of huge profits and a record quarter, just like the other four listed owners reporting this week.

But the Diamond S conference call on Friday was not a predictable sequel to calls with analysts the days before. The mood was less uplifting and self-serving, more foreboding and straight-shooting.

Diamond S CEO Craig Stevenson and his CFO Kevin Kilcullen did not mince words about the trouble they see...

https://www.freightwaves.com/news/tanker-veteran-warns-on-rates-the-storm-is-coming

Inside the ‘mind-blowing,’ ‘crazy,’ ‘insane,’ ‘ridiculous’ tanker sell-off

24 May 20206 May 2020

The plot thickens.

On Wednesday, U.S.-listed tanker stocks reported record-high results, executives confirmed strengthening rates on conference calls, the broader stock market was relatively stable (at least until the last hour), the price of crude oil declined … and yet, stocks of tanker owners fell sharply in heavy trading.

It was “the craziest price action I’ve seen in my nine years covering the space,” Jefferies shipping analyst Randy Giveans told FreightWaves.

There have been plenty of bad...

https://s29755.pcdn.co/news/inside-the-mind-blowing-crazy-insane-ridiculous-tanker-sell-off

High Fleet Growth and Coronavirus Pandemic Take a Toll on Tanker Freight Rates

22 March 2020

Moving into the new year, oil product tanker freight rates have fallen, with smaller vessel sizes earning more than larger ones.
Falling rates at the start of the year is typical of the season-dependent oil tanker market. Demand is always strong in Q4, reflecting consumption patterns in the major markets.
Lower Chinese demand and falling oil prices may lead to OPEC further lowering its oil output, having already agreed to trim production in December 2019.
The coronavirus spread could also...

http://mfame.guru/high-fleet-growth-and-coronavirus-pandemic-take-a-toll-on-tanker-freight-rates/

Tanker Shipping Gets an Uptick With Scrubber Retrofits

6 October 2019

Tanker shipping is getting “very, very close” to a positive market as vessel supply capacity is in check due partly to scrubber retrofit works, reports Seatrade Maritime News.

Although more scrapping would be welcomed to further tighten supply.

Increase in New-builds

Matthew Blake, director of business development at Teekay Tankers, told delegates at the Marine Money Asia conference held in Singapore, “Good times are very, very close for tankers and we are looking forward to the fourth quarter to...

http://mfame.guru/tanker-shipping-gets-an-uptick-with-scrubber-retrofits/

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