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Saturday, October 10, 2015

Tanker News




EIA forecast total U.S. crude oil production to decline by 0.4 mbd in 2016

EIA estimates total U.S. crude oil production declined by 0.14 million barrels per day (mbd) in August compared with July production. Crude oil production is forecast to continue decreasing through mid-2016 before growth resumes late in 2016. Projected U.S. crude oil production averages 9.2 mbd in 2015 and 8.8 mbd in 2016. ... Login to view this article


DnB postpones LNG recovery

DNB’s proprietary liquefaction survey postpones recovery to 2018. This summer DNB has collected data from all liquefaction plants globally, making us reduce expected tonne-mile demand growth from 11% to 0% for 2015. 2016 also looks weaker, with growth of 14% compared with previous expectations of 16%, while 2017 now looks relatively strong as DNB expects tonne-miles to increase another 14%.  ...... Login to view this article


Global oil demand revised up - IEA

·      IEAs August Oil Market Report says that global oil demand in 2015 is expected to grow by 1.6 mbd, up 0.2 mbd from our previous Report and the fastest pace in five years, as economic growth solidifies and consumers respond to lower oil prices. Persistent macro-economic strength supports above-trend growth of 1.4 mbd in 2016. The latest Chinese oil demand numbers show relatively robust gai...... Login to view this article


Aframax Market’s Impact On The Clean Tonnage Supply – Inge Steensland

The economics behind changing grade vary from company to company, but on a general basis, the governing factor is the prospects of clean vs dirty markets. Further, one needs to take into account costs such as cleaning expenditures and potential temporarily fall in earnings when ships return to the clean tanker world. Aframax owners trading dirty are currently enjoying strong earnings. Baltic...... Login to view this article


Asian demand for US LPG is much stronger than expected - DNB

DNB reiterate their positive stance on 2015 VLGC spot rates while DNB have raised their rate forecasts from USD16,000–17,000/day to USD50,000/day for 2016 and USD30,000/day for 2017, as the share of US exports heading to Asia is much higher than DNB expected. Also, momentum from US unconventional production implies higher LPG production in 2015 and DNB are still not too worried about the risk o...... Login to view this article


DNB expect crude tanker tonne-miles to grow by 4% in 2015

DNB expects 2016–2017 crude tanker tonne-mile demand to grow by 4%, up from -2% in 2015e, with volume growth of 2%, up from 1% in 2015e. DNB has a positive view on the sector, underpinned by changing trading patterns, with Asian tonne-mile absorbing the US shortfall, OPEC releasing its spare capacity, growth in and reallocation of refining capacity, together with their view that US crude export...... Login to view this article


Chemical Shipping driven by the product tanker market - Drewry

According to Drewry Chemical tanker Forecaster, c hemical shipping faces another tough year, but prospects are improving thanks to the strength of the product tanker market which is attracting a growing number of swing ships out of chemicals into products, according to the latest edition of the Chemical Forecaster , published by global shipping consultancy Drewry.   Drewry estimates that seabor...... Login to view this article


Global Oil demand revised upwards - IEA

·                 According to this month IEA Oil Market Report the estimate of global demand growth has been revised up to 1.7 mbd for 1Q15 and 1.4 mbd for 2015 as a whole . Momentum is expected to ease somewhat in 2H15, assuming a return to normal weather conditions and given a recent partial recovery in oil prices ·                 Three key factors have been lifting oil demand growth in 1H1...... Login to view this article


Trade ex Angola generate almost as much trade as trade ex Saudi Arabia

ANGOLA in West Africa is almost neck and neck with oil producing giant Saudi Arabia in its importance to very large crude carriers, exclusive data from Lloyd’s List Intelligence reveals.   Angola to China VLCC trades generated 28.4bn tonne-miles in April, just behind the 31.5bn tonne-miles generated by the Saudi Arabia to China trade.     The figures clearly show that Angola is punching way abo...... Login to view this article


Accelerating increase in oil demand - IEA

·                 In today’s oil market report IEA reports that despite slowing US US light tight oil ( LTO) output, global oil supply growth remained at a steep 3.2 mbd year-on-year in April. At 95.7 mbd, total oil supplies were flat from March as higher OPEC output offset a drop in non-OPEC.   Non-OPEC supply growth for 2015 is projected at 0.830 mbd   Russian oil companies seem to be coping...... Login to view this article