5th Oil Tanker Shipping Summit 2014
Time:2014-09-24 -09-24location:shanghai shanghaishi
Time:2014-09-24 -09-24location:shanghai shanghaishi
In 2013, the international financial market remained stable on the whole with a moderate global economic growth, but the impetus was still insufficient. Moreover, problems of sovereign debt of developed countries failed to make substantial progress. Meanwhile, economic growth of emerging economies slowed down. With a narrowed fluctuation of price, global oil market enjoyed a relatively optimistic balance between supply and demand. Ship-owners, however, still had a tough time due to the capacity excess.
The oil tanker market has a good start
this year. According to the report from Clarksons, volume of global oil
shipping this year will have a year-on-year growth of 2.5%, which is higher
than the growth of capacity. Demand for crude oil tanker is about 285 million
DWT, with a year-on-year growth of 1.6%, which is slightly higher than the
supply growth. Thanks to this, the surplus of tanker capacity is gradually
relieved. It is forecasted that gross global capacity surplus will be around
13%, with a year-on-year decrease of 1%.
More and more analysts believe that
the tanker market will soon gain a reversion in trend. With a steady economic
recovery and a continuous development tendency, the market also has a higher
expectation of global crude oil demand. Meanwhile, the lower growth rate of new
orders, the high proportion of vessels’ delayed delivery, the accelerating
growth of ship breaking, all these factors will cast strong effects on the
growth of shipping capacity. Will there be any improvement on the S-D structure
of oil shipping market? When will the long-awaited recovery happen?
1. Oil Company/Trader 30%
2. Ship Owner 29%
3. Broker/Agent/Forwarder 16%
4. Terminal/Port Authority 9%
5. Others 16%
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