Shifting Oil Market Dynamics Key to Tanker Trade Prospects -MSI
The Q3 2017 tanker market is proving vexatious for owners still struggling with the effects of fleet oversupply. But in its latest monthly forecast, Maritime Strategies International (MSI) observes that changing trade patterns could help stabilize the market toward year-end and into 2018. With all-OPEC crude exports setting record highs in July, the cartel’s attempts at lowering production are clearly open to question. There was a reduction in flows from OPEC’s Gulf producers while China’s imports tumbled to seven-month lows in July.
VLCC Earnings Set for Strong Growth
London, December 15, 2015. The latest Tanker Freight Forecaster from Maritime Strategies International predicts further upside volatility in the crude tanker market in 2016 as a result of OPEC’s decision to effectively maintain oil output levels. Average VLCC spot earnings for the Baltic Exchange’s ME-Japan voyage (TD3) have exceeded $100,000/day in the first half of December. Over the six-month horizon of the latest report, upside potential remains high…