Tanker Weekly – May 23, 2011
Baltic Dirty Tanker Index rose 0.5%; Baltic Clean Tanker Index fell 6.9%.
Archive for the ‘Tanker Weekly’ Category
Tanker Weekly – May 9, 2011
Baltic Dirty Tanker Index fell 4.0%; Baltic Clean Tanker Index fell 2.9%.
Oversupply of vessels is so high that at even increased supply of cargoes rates are sinking.
Tanker Weekly – May 1, 2011
Baltic Dirty Tanker Index fell 1.2%; Baltic Clean Tanker Index rose 0.6%.
We could see a slight bounce in Q2 as refinery maintenance season ends.
Tanker Weekly – April 16, 2011
Baltic Dirty Tanker Index fell 4.5%; Baltic Clean Tanker Index rose 1.8%.
Tanker Weekly – April 11, 2011
Baltic Dirty Tanker Index fell 5.5%; Baltic Clean Tanker Index was down 1.8%.
Back to the same old story…oversupply…
Tanker Weekly – April 4, 2011
Baltic Dirty Tanker Index fell 2.8%; Baltic Clean Tanker Index rose 0.7%.
Activity increased on Libyan oil substitution, rated steady despite more demand.
Tanker Weekly – March 21, 2011
Baltic Dirty Tanker Index fell 1.1%; Baltic Clean Tanker Index rose 0.8%.
Markets adapted well to the new setup (ex. Libyan oil and with increased Japanese product demand), risk is on the downside.
Tanker Weekly – March 13, 2011
Baltic Dirty Tanker Index fell 1.9%; Baltic Clean Tanker Index was unchanged.
Japan earthquake effects: I seems that Japanese crude oil demand will initially fall because one fifth of Japanese refinery capacity is offline, but subsequently will rise fast because only possible substitution to nuclear electricity generation (one fourth off-line and years needed to bring it back on-line) is gas and oil-fired generation. Product demand (residual fuel oil and diesel fuel especially) will rise fast in coming days.
To sum up, near term positive for product tankers, negative for crude oil carriers. Longer term positive for both. Positive for LNG carriers.
Tanker Weekly – March 6, 2011
Baltic Dirty Tanker Index rose 20.3%; Baltic Clean Tanker Index was up 12.7%.
As I wrote earlier civil war in Libya is driving rates up. Under the assumption European imports of Libyan crude will be replaced by West Africa crude and West African crude exported to Far East substituted with Saudi crude the distance to which crude is transported could be actually reduced. So, when the tankers reposition according to the new transport setup, what remains is only uncertainty driving the markets.
Tanker Weekly – February 26, 2011
Baltic Dirty Tanker Index rose 11.8%; Baltic Clean Tanker Index was up 11.7%.
As with everything happening this week this was also caused by Libya unrest/civil war. Libya crude oil was primarily exported to nearby markets, so drop in Libya production will have to be substituted from producing countries which are more distant. This caused a rise in shipping rates which will probably continue.
Tanker Weekly – February 19, 2011
Baltic Dirty Tanker Index rose 10.5%; Baltic Clean Tanker Index was up 3.6%.
The demand is somewhat stronger, but my guess is that supply will emerge and rates will remain range bound.
Tanker Weekly – February 14, 2011
Baltic Dirty Tanker Index rose 5.7%; Baltic Clean Tanker Index fell 3.5%.
Some supply/demand tightens into the end of February, but my guess is that supply will emerge and rates will remain range bound.
Tanker Weekly – February 5, 2011
Baltic Dirty Tanker Index rose 1.5%; Baltic Clean Tanker Index fell 1.7%.
Again: too many available ships for the cargoes offered. We could see some positive freight rate developments if Egypt unrests affect Suez canal normal operation.
Tanker Weekly – January 30, 2011
Baltic Dirty Tanker Index fell 0.9%; Baltic Clean Tanker Index rose 1.7%.
My comment remains the same: too many available ships for the cargoes offered. We could see some positive freight rate developments if Egypt unrests affect Suez canal normal operation.
Tanker Weekly – January 23, 2011
Baltic Dirty Tanker Index fell 7.6%; Baltic Clean Tanker Index rose 0.2%.
My comment remains the same: too many available ships for the cargoes offered. From the crude oil demand side it also feels the bullishness from the end of the last year has abated.