Oil product tanker fleet growth
20 Feb 2019 Oil product tankers benefited as global refiners increased throughput and refined oil products were shipped and stored at different facilities 12 Jun 2019 Oil-product tanker fleet grew rapidly in the first four months of 2019. Despite BIMCO estimates for 2020 and 2021, fleet growth is expected to Suezmax and Aframax tanker deliveries quickened and scrapping levels stalled in Only around seven were scrapped, which would mean net fleet growth of around balance is less clear, as some operate as Long Range (LR) product tankers. This assumes that supplies of high-sulphur fuel oil (HSFO) do not become The strong fleet growth in 2016 and 2017 only makes the downturn tougher on owners date, and the oil product tanker fleet had grown by 3.6%. Deliveries into
20 Feb 2019 Oil product tankers benefited as global refiners increased throughput and refined oil products were shipped and stored at different facilities
18 Sep 2019 Growth in the crude oil tanker fleet is particularly high with BIMCO Even with a demand boost to the oil product tanker shipping sector 20 Feb 2019 Oil product tankers benefited as global refiners increased throughput and refined oil products were shipped and stored at different facilities 12 Jun 2019 Oil-product tanker fleet grew rapidly in the first four months of 2019. Despite BIMCO estimates for 2020 and 2021, fleet growth is expected to Suezmax and Aframax tanker deliveries quickened and scrapping levels stalled in Only around seven were scrapped, which would mean net fleet growth of around balance is less clear, as some operate as Long Range (LR) product tankers. This assumes that supplies of high-sulphur fuel oil (HSFO) do not become
The tankers carry crude oil and oil products such as gasoline and diesel oil in every major commercial area of the world: the Black Sea, the Mediterranean, the
“The outlook for the product tanker market appears positive in 2020, with ‘trading’ fleet growth expected to slow to 2.4%, and time out of service for scrubber retrofits expected to absorb an average of 0.7% of products fleet capacity this year, up from 0.5% in 2019”. Over the past four months owners have been busy ordering new tankers, keeping the crude oil tanker fleet expansion on course for a six-year-high, measured in DWT, BIMCO said. However, the fleet growth percentage is down from last years’ 5.9%, to 4.7% for the full year of 2017. The order book included 14 LR2 and 14 […] Fleet growth is expected to exceed 2%.” When it comes to oil product tankers, outlook is slightly more positive, but for different reasons. Low fleet growth has teed up the market for improved earnings in 2019 when compared with the lows of 2018. The market was bad, but not as bad as the crude-oil tanker market. We are now expecting the crude oil tanker fleet, as well as the oil product tanker fleet, to grow by 2.5%. Fleet growth estimates are quite sensitive to demolition forecasts – which in turn are very sensitive to freight rate developments. 2018 has already seen 0.5m DWT of oil product tankers tonnage and 1.1m DWT of crude oil tanker tonnage being demolished (including two VLCCs). Recent expansion of the global crude oil and petroleum product tanker fleet has resulted in falling or lower tanker rates for much of 2016 that have widened the geographic scope for economically attractive trade at a time when inventories of both crude oil and petroleum products are at high levels. Crude oil tanker segment to see net fleet growth in 2017 – Mr Peter Sand. Mr Peter Sand of BIMCO said that tanker demand growth in 2017 expected to come predominantly from the greater Asian region led by India & China. Mr Sand said that "In the wake of a very strong 2015, fortune faded as expected for crude oil and oil product tankers. The crude oil tanker fleet was 0.2% smaller by early August than it was at the start of the year. The oil product tanker fleet has grown 1.7% in the first seven months of 2018. Our fleet growth forecast for the full year of 2018 is at 0.8% for the crude oil sector and 2.4% for the oil products sector.
A total of 162 tankers carry crude oil, refined products, chemicals, expansion of our fleet is based on this type of MOL continued to enhance its tanker fleet.
The crude oil tanker fleet was 0.2% smaller by early August than it was at the start of the year. The oil product tanker fleet has grown 1.7% in the first seven months of 2018. Our fleet growth forecast for the full year of 2018 is at 0.8% for the crude oil sector and 2.4% for the oil products sector. The oil product tanker fleet has seen a sharp rise in deliveries from 2018 which, combined with lower demolition, means that BIMCO now expects fleet growth of 4.8% in 2019, compared with 1.8% in 2018. The largest share of the additional capacity comes from deliveries of Medium Range (MR) tankers.
6 Sep 2016 This has created a situation where the demand for oil product tankers to to enter the market, bringing crude oil tanker fleet growth up to 5% for
We estimate the supply side growth rate of the oil product tanker fleet to be around 2.5 per cent (6.1 per cent in 2016E). We foresee demolition of tanker capacity to reach a five-year high, but For 2018, fleet growth was quite diverse; the Aframax grew by just 0.3%, VLCCs’ growth was on a par with that of the overall fleet, at 0.8%, while the Suezmax fleet grew by 2%. BIMCO similarly expects higher fleet growth for the oil product tanker sector, primarily on the back of much lower demolition activity. The orderbook-to-fleet ratio of 16% in Q3 2016 provides evidence for future fleet growth. However, if the fleet in future expands by more than the growing need, it will contribute to an imbalance between supply and demand, therefore resulting in decreased earnings. This should trigger higher demolition activity in the crude oil tanker segment. From January 2014 – October 2016 the crude oil tanker segment composing of VLCC, suexmax and aframax ships, had a net-fleet growth of 7.3%, which is equal to 24.3 million (m) DWT. The VLCC segment, with 20.7m DWT or a net fleet growth rate of 11% took the lion’s share, followed by the suezmax segment… For example, Capital Product Partners projects that product tanker demand will grow by 3.8% in 2018, exceeding supply growth of 1.6%. Navios projects approximately 2.2% net fleet growth in 2018
30 Sep 2014 product tanker market fundamentals, including the balance of supply tanker fleet during 2014 through 2016, estimated growth in global oil Our fleet consists of a range of BP Shipping operated vessels. making them fully compliant with North Sea/Baltic legislation while burning heavy fuel oil. The Mariner class are the first product tankers to be delivered under the BP Shipping "World leader in the international seaborne transportation of crude oil and refined products". ×. Investor Presentation On the first day of the Tanker Shipping & Trade Conference, EA Gibson Shipbrokers’ head of research Richard Matthews gave an in-depth review of the product tanker market, starting with fleet supply. He noted that product tanker fleet growth has been very high at 6.5% in 2019. The oil product tanker fleet has grown 1.7% in the first seven months of 2018. Our fleet growth forecast for the full year of 2018 is at 0.8% for the crude oil sector and 2.4% for the oil products sector.