The tanker market posted a mild rebound during the month of December. According to the latest monthly report from OPEC, dirty tanker rates experienced a slight improvement m-o-m in December, while still remaining near multiyear lows amid a persistent i…
Tanker Market Edged Higher During December Read More »
The oil market is expected to tighten this year as new OPEC+ cuts take hold and the roll out of vaccines brings some balance back to the sector. But demand in 2021 is still going to be short of pre-Covid levels and there will be limited inventory resto…
Balancing the crude picture Read More »
In December 2020, the signatories of the Poseidon Principles—currently twenty large banks—released their first Annual Disclosure Report. As the first paragraph of the report says: “This report represents the first time Signatories of the Poseidon…
A smaller dry bulk fleet could be on the cards for 2021, should the existing trends and estimates materialize. In its latest weekly analysis, shipbroker Intermodal said that “we expect the rise in scrap prices amid the inflection of steel prices to mul…
More Scrapping, Fewer Deliveries Bode Well for the Dry Bulk Market in 2021 Read More »
In the seven days up to 1 January 2021, the US did not record any crude oil imports from Saudi Arabia. It is the first time this has happened. Previously, imports have averaged several hundred thousand barrels per day (bpd). For the moment, this drop t…
BIMCO’s Shipping Number of the Week: Zero tonnes of Saudi crude oil imported by the US Read More »