Tanker Weekly – 20 March, 2010

March 20th, 2010 by Belisarius

Baltic Dirty Tanker Index rose 16.0% last week while Baltic Clean Tanker Index fell 4.6%. Strong demand for crude transportation, weak for products. Interesting, on shore storage near record levels, a lot of oil traveling on tankers, contango easing (lower roll yield for oil stored on sea). I would say we are heading towards short term oversupply.

Or the demand will pick up strong…

Chart 1. Baltic Tanker Indexes Relative Performance

Source: Bloomberg

Chart 2. Baltic Tanker Indexes

Source: Bloomberg

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