Tanker market levels through 2007 were relatively subdued compared with recent years, with nominal Worldscale rates showing a lower average for most of the key routes compared with 2006. The factors driving these trades are discussed within the report, but in general terms, there was notable influence from de-stocking in the OECD along oil price structures and a slow-down in tonne-mile demand growth.
The surge in newbuilding deliveries also increased tonnage availability - particularly in the product sector - and added some downside pressure to freight rates. In terms of earnings, the higher running costs, largely due to record high bunker prices, hit most tanker sectors, thereby cutting into profits.
“World Oil Tanker Trends” is available from SSY Consultancy & Research Ltd for an annual subscription of £395 (US$790). Subscribers are entitled to two 6-monthly reports per year, which come with a CD-Rom containing MS Excel files of the main tables featured in the hard copy.
News
Rising International Steel Prices
15-05-2008
World steel prices continue to rise. According to World Steel Dynamics, the US spot price of hot-rolled band has now reached $1,154/t (FOB the mill), in contrast to 2006/07 when the price ranged ... [more]
China’s Steel Production Near Record
14-05-2008
Chinese steel production in April fell just short of the monthly all-time high in March, according to preliminary customs data. April output reached 44.7 Mt, just 0.2 Mt less than the previous month, ... [more]
US Gasoline Stocks Fall, Crude and Distillate Rise
14-05-2008
US gasoline stocks fell 1.7m bbl last week to 210.2m bbl, but remained 7.6% higher y-o-y, as imports dropped 40%, or 579k b/d, to 915k b/d, according to the latest data from the US Department of ... [more]
Indications on US Consumer Spending
13-05-2008
The latest retail data from the US appears to show greater resilience by US consumers than previously anticipated, according to Reuters. Commerce Department statistics indicate that overall retail ... [more]
IEA Revises Down Global Oil Demand Forecast
13-05-2008
In its latest monthly report the IEA has revised downward its forecast for oil demand in 2008 to 86.8m b/d, or 0.39m b/d lower than in its report of a month ago. This is due to expectations that OECD ... [more]
Events
McCloskey’s Australian Coal Conference
19-11-2007 - 20-11-2007
Derek Langston, Dry Bulk Analyst at SSY Consultancy & Research, spoke in the keynote session of McCloskey’s Australian Coal Conference in Sydney. His paper examined what has caused the tonnage shortage in 2007 as well as asking what could ease the ... [more]
Coaltrans – World Coal Conference
21-10-2007 - 00-00-0000
In his paper “Where Next for Freight Rates?” John Kearsey, Executive Director of SSY Consultancy & Research, examined the question of whether the high market could be sustained at the 27th Coaltrans – World Coal Conference. The paper also considered ... [more]
Marine Money Asia
27-09-2007 - 00-00-0000
SSY presented a paper on the dry bulk markets at Marine Money’s 6th Asia Finance Forum in Singapore at the end of September. SSY analyst, Louisa Follis, delivered the presentation to highlight the strength of the current Capesize sector with ... [more]
Markets
Sale & Purchase
09-05-2008
The Dry Bulk Indices jumped ahead again this week and we are seeing continuing interest and improved prices for this sector. Interest for Tankers also remains firm with various ... [more]
Dry Cargo
Capesize
09-05-2008
The Cape market continued its march upwards with the average 4TC index reaching USD 188,000 at one stage, but by the end of the week closed ... [more]
Atlantic Panamax
09-05-2008
A quiet start of the week with various public holidays around the globe left the market a bit unstable, however by the mid week the ... [more]
Pacific Panamax
09-05-2008
The Pacific market this week ticked over with again a lack of Japanese activity but this was mainly owing to the Golden week holidays being ... [more]
Atlantic Handysize
09-05-2008
With holidays over and everyone returning to their desks this week the market was ready for some action, whereas the previous week had been ... [more]
Pacific Handysize
09-05-2008
Another steady week in the Far East and South East Asia. Rates out of the Far East remained steady for Pacific round voyage business at the ... [more]
Tankers
12-05-2008
OIL prices have risen to the point where OPEC is now mooting a supply increase, according to news at the end of last week. With crude ... [more]
Chemicals
12-05-2008
Americas: A quick glance at the Caribs market would give the impression of tightness within May, but the ships that are on berth are larger ... [more]
Gas
LNG
09-05-2008
Petrobras of Brazil has indicated that it needs more time to select the successful bidder who will supply the LNGC to be converted to the ... [more]
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