The search for upside in the tanker sector continues but there is reason to believe that 2022 holds the potential for persistently better earnings, provided that a number of stars align – read more in Splash247.com
Oil Tanker
Trafigura tied to string of three-year deals as trader locks in crude tanker tonnage
Trader scoops up three VLCCs and a suezmax as shipowners hope for stronger rates next year. Read more in TradeWinds
How EEXI and CII will impact the S&P market
Decarbonisation programmes set by the International Maritime Organization (IMO), shipping’s regulatory body, will be one of the most difficult tasks for the industry in the coming years. This starts with the implementation of the EEXI, and CII criteria, all of which aim to reduce carbon intensity and will impact prices of the existing fleet. The first phase begins in January 2023. Read more in Splash Extra
Tanker scrapping picking up and expected to continue, MSI says
More tankers are forecast to be sent to the breakers in the coming months, with some segments expecting to see negative fleet growth. Read more in TradeWinds
New figures suggest shipping rates may have passed their peak – but supply chain crisis to continue
Shipping rates from China to the US have “finally slumped” with spot rates halved on some routes due to power cuts and Covid-19 outbreaks in China, according to an industry report. Read more in The Institute of Export Trade News
SHIPPING: Global tankers Q4 freight, earnings to rise as demand strengthens
Global tanker rates are likely to recover in the fourth quarter of 2021… Read more in S&P Global
Abnormal supply and changing demand: is this an ‘end to the trend’ for tankers?
For both tanker supply and demand, deviation from the trends of the last two decades is likely to be pronounced, writes MSI director – Tanker Markets and Energy Tim Smith. Read more in Riviera
‘Real optimism’ as VLCC rates to China hit highest level since January
The recent improvement in VLCC rates offers genuine hope for a prolonged recovery for owners, analysts believe.
But other voices in the sector warn that all is not as rosy as it appears, and massive scrapping is needed to boost earnings long term. Read more in TradeWinds
Shipping stocks hammered as China fears intensify
Maritime Strategies International (MSI) cautioned, “Signs are mounting that suggest underlying consumption of raw materials in China is under threat.” Read more in American Shipper
Diamlemos fleet whittled down to two vessels after sale of last tanker
Piraeus-based Diamlemos Shipping is left with two 20-year-old bulkers in its fleet after offloading its last tanker. Read more in TradeWinds