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Monday, July 23, 2018

MARKET INFORMATION

**Second-hand prices increasing further

A five year old VLCC is now priced at USD 71 mil up from USD 50, a five year old Suezmax is priced at USD 49 mil, up from USD 36, a five year old Aframax is priced at USD 39 mil, up from USD 26, and a five year old 30,000 dwt is priced at USD 20.5 mil, up from  USD 16, since December 1999.  For graphs of the development since 1992, more second-hand values and 187 specific tanker sales in 2000 see: http://www.intertanko.com/pubupload/Secondhand tanker prices and sales.XLS

**Record high Norwegian oil production - PIW

October production was unexpectedly strong, according to Norwegian Petroleum Directorate data (PIW). Total oil output rose to 3.47 mbd, up 0.222 mbd from September and 0.188 from a year earlier. Further increases will likely be reported for November and December.

See our web page: http://www.intertanko.com/members/tankermarket/

**Oil price at USD 50 in 2001? – World Bank

At the same time as the oil price is declining to below USD 30 per barrel, the World Bank announces a worst case scenario of an oil price of USD 50 per barrel. However, the most likely oil price next year is expected to be USD 25 per barrel and USD 21 per barrel in 2002, according to the World Bank. This year’s high oil price will give Norway a budget surplus of NOK 126 billion January to September, compared to 20 billion for 1999

See our web page for daily freight rates and oil price development: http://www.intertanko.com/