Tanker market fundamentals remain weak

As vaccination programmes bring some hope, the pace of recovery in the tanker freight market is likely to remain slow as new coronavirus outbreaks in some countries present a significant risk. Any near-term recovery will likely to be hampered by the reduction in extraordinary factors influencing fleet availability, such as floating storage demand seen last year. Read more in Lloyd’s List

Tanker market fundamentals remain weak

Don’t expect a quick rate recovery in tanker markets this year, analysts say

Crude tanker owners are still facing difficult market conditions in the months ahead due to slow growth in seaborne trade, senior analysts told an industry forum.

The gloomy outlook comes as spot tanker earnings remain below break-even levels for many shipowners in various segments, despite forecast increases in Opec+ supply and oil demand later this year. Read more in TradeWinds

Don’t expect a quick rate recovery in tanker markets this year, analysts say

Foresight: Forecasting the Shipbuilding markets in the New Normal

The COVID-19 pandemic has compounded existing uncertainties to create a perfect storm for the shipbuilding markets, as well as having widely differing impacts on different sectors of shipping. Take a look inside the latest foresight!

Foresight: Forecasting the Shipbuilding markets in the New Normal