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Industry Opinions

 

West AfriCAN Go East
November 21, 2014
Where is all the West African Crude going?

Until the shale oil revolution in the United States, the West Africa to the U.S. trade route was one of the benchmark tanker trades. In recent times, however, almost no West African crude moves to the U.S. As the producers in Nigeria and Angola have not cut production, to whom do they sell their crude oil now?
 
It’s The Supply Side, Stupid!
November 14, 2014
Limited fleet growth has been a key factor in the tanker market recovery

During Bill Clinton’s successful 1992 presidential campaign, his strategist James Carville coined the phrase “It’s the economy, stupid”. It was a clever slogan to focus the American voters on the then-prevailing recession in the U.S. In the commodity shipping markets, any explanation regarding movements in rates and prices almost always includes a strong supply element – which is no different this time around.
 
Shipowners Pleased With Energy East
November 07, 2014
The proposed Energy East Pipeline will be a game-changer for Canadian oil producers and tanker owners

On October 30, 2014 TransCanada filed a formal application for the Energy East Pipeline Project with the Canadian National Energy Board. How will this 1.1 million barrels per day (b/d) pipeline impact the tanker market when it is completed?
 
Asian Oil Demand - Trick or Treat?
October 31, 2014
Oil demand in China and India is expected to remain resilient
Happy Halloween! To the tanker market, nothing could be scarier than a slowdown in Asian oil demand, which is exactly what the mainstream press has been writing about in recent days. A decline in oil headed East is frequently quoted as one of the contributing factors driving the fall in oil prices, but does the data support this assertion?
 
What’s Cooking in the Palm Oil Trade?
October 24, 2014
Will the palm oil trade continue to be a source of employment for newbuilding MRs?
Since 2000, palm oil exports have increased from 16.6 million metric tons (MT) to an estimated 44.6 million MT in 2014 – an impressive compound annual growth rate of 7.3%. Supply and demand developments in this trade point to continued growth until at least 2020.
 
Condensates to the Rescue?
October 17, 2014
Will growing U.S. condensate exports provide a boost to the Aframax tanker segment?

In June of this year two American companies, Enterprise Product Partners and Pioneer Natural Resources, received permission to export slightly treated condensates from the United States. Since then American oil producers and shipowners alike have become excited about the potential of a significant new export trade out of the United States. Will this be the opportunity that tanker owners have been waiting for?
 
Suezmaxes as the Comeback Kid?
October 10, 2014
Suezmaxes appear to be a good investment again

Several tanker owners have recently placed orders for Suezmax tankers and market pundits have discussed the merits or, in some cases, the potential pitfalls of the renewed interest in this segment of the tanker market.
 
Out with the old, in with the new?
October 03, 2014
Should owners replace older tonnage with new vessels?

A few days ago, we talked to an investor who faces a dilemma. He owns several 10-year-old Medium Range (MR) product tankers, which were acquired several years ago for competitive prices at the time of purchase. All vessels are on period charter to oil companies for respectable rates. His question: Should he keep these vessels for the foreseeable future? Or is it time to trade them in for a pair of new ECO models?
 
INDIA, THE NEW ASIAN TIGER
September 26, 2014
India is destined to become a more significant driver of the tanker market

With an estimated 1,267,400,000 people, India has the second largest population in the world after China. However, India’s population is relatively younger with a median age of 26.6 years (versus 35.7 years in China) and is growing at a faster pace. Based on current population characteristics and trends such as life expectancy and fertility rate, India’s population is expected to surpass China’s before 2030. With this ever-growing population will come an increased demand for oil, transforming India into one of the key players in the tanker market in the coming years.
 
CITGO: GOING GOING GONE?
September 19, 2014
A sale of PDVSA’s Citgo refining assets could dramatically change crude oil flows

According to various sources, Venezuelan state oil company PDVSA is planning to sell its North American unit, Citgo Petroleum Corp. Citgo owns three refineries in the United States with a combined capacity of more than 750,000 b/d: Lake Charles, LA (425,000 b/d) Corpus Christi, TX (165,000 b/d) and Lemont, IL (167,000 b/d).



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