BIMCO: After the party, the hangover is proving drawn out for oil tanker shipping

BIMCO: After the party, the hangover is proving drawn out for oil tanker shipping

Peter Sand

Tanker shipping was in many ways the odd one out of the shipping sectors in 2020; at the start of the pandemic, the market was strong, only to finish off the year in the doldrums, while the other sectors stayed profitable. Even a demand boost in December only managed to lift earnings slightly, raising the question of what it will take for tankers to return to profitability?

In the immediate aftermath of...

https://allaboutshipping.co.uk/2021/01/25/bimco-after-the-party-the-hangover-is-proving-drawn-out-for-oil-tanker-shipping/

U.S. LNG Gas Export Falls More Than Half in 2020

  • Historically low natural gas and LNG spot prices in Europe and Asia have affected the economic viability of U.S. LNG exports.
  • Trade press reports indicate that more than 70 cargoes were canceled for June and July deliveries, and more than 40 cargoes were canceled for August deliveries.
  • In comparison, 74 cargoes were exported from the United States in January 2020.

A recently reported article published in EIA reveals the status of the present status of LNG market in the US.

A comparison of March...

https://mfame.guru/u-s-lng-gas-export-falls-more-than-half-in-2020/

Crude Oil Below 60$ Per Barrel As Demand Slumps Over Coronavirus Scare!

  • Chinese markets are reeling under the coronavirus effect and this will hit the global oil demand.
  • the epidemic has reduced oil consumption in China, the second-largest economy of the world
  • The US Energy Information Administration acknowledges that this outbreak along with travel restrictions will reduce global oil demand.
  • Crude oil prices will be as low as 60$ per barrel owing to this.
  • Along with the global oil demand forecast, EIA has also cut the US crude grwoth forecast.

Amidst...

http://mfame.guru/crude-oil-below-60-per-barrel-as-demand-slumps-over-coronavirus-scare/

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