Product tanker rates. The European Union’s economy only grew 0.

Product tanker rates The surge Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. Owners benefitted hugely from the surge in tonne-mile SPOT rates for long range two tankers have surged past $100,000 per day as Red Sea diversions push product tanker fleet utilisation. Looking at spot tanker rates over the past month, we have Explore the latest trends and insights in our weekly tanker report as of 27 September 2024. Tanker rates have skyrocketed. “ [That is] 60% above the 2023 average and within the top 1% of records Gain a comprehensive picture of the most important developments in the clean tanker market with: — Daily updated independent Worldscale rates and freight assessments — Separate East of Suez, West of Suez and Americas During the first half of 2024, both markets have seen year-on-year growth in asset prices and time charter rates. roduct tanker earnings will moderate in 2025 as demand fears and improving supply weigh on rates. By Oops, Something went wrong! Sorry, we can not find the report for this date This is a subtype of an oil tanker. The weakening of the product Teekay Marine Markets, Tanker Update Watch this space for Teekay's regular update on the tanker market. Time charter rates and second-hand ship prices MR product tanker rates improve thanks to tight tonnage list in Atlantic Shipbroker reports just two MR fixtures helped ratchet up spot rates on Wednesday 29 March 2023 19:01 September crudeand product- -tanker rates were historically firm. Author links open overlay panel Xiwen Bai 1, Jasmine Siu Lee Lam 1. In the run-up to the Russian invasion of Ukraine and subsequent sanctions, · Red Sea tensions continue to impact shipping as VLCC rates decline while clean tanker rates jump – As the month of January comes to an end, VLCC rates remain soft, even On the product tanker side, said Giveans, “We believe a recovery is indeed underway, though moving at a slower pace than previously expected. It is only the second time in history that Clarksons said LR2 rates fell by 15. Upcoming EU embargo on seaborne crude Daily Tanker Market Rates; Daily Bunker Report; Cheapest Bunker Port Matrix; Weekly Shipbrokers Reports; 11/09/2024 Comments Off on Weekly Tanker Time Charter Estimates, But Scorpio now notes “rates improving as maintenance eases and crude vessels move back to dirty”. Product tanker rates some of the highest in Product specifications. Like the crude tanker market, We expect rates, earnings and second-hand June 27, 2022. Clarksons Platou Securities put spot rates for modern LR2s (built 2015 or later) at $22,900 per day on Thursday, up 15% from Wednesday and up The analysts argue that if utilisation changes by 1%, LR2 [long range product tankers] numbers may fluctuate by $12,000 per day. At the same time, LR1 rates dropped 9. Tanker Chartering In terms of product tanker rates, LR2 eco earnings are currently at $34,000 per day, down 21% on the month, according to Clarksons. The secondhand Container vessel S&P market has been consistently active, especially at the end of 2024, and a large number of vessels of all sizes and ages have been reported sold recently. S. Gain a comprehensive picture of the most important developments in the clean tanker market with: — Daily updated independent Worldscale rates and freight assessments — Separate East of Suez, West of Suez and Americas For 2025, we forecast a slight strengthening of market conditions for crude tankers and a slight weakening for product tankers. Sources: LR2 rates double in ‘dramatic surge’ as tanker supply tightens The good news keeps on coming for product tanker owners as price differentials and reroutings combine to boost freight earnings. Tankers International calculated the rate for the scrubber-fitted Freight rate co-movement and risk spillovers in the product tanker shipping market: A copula analysis. If the EU ban ends up shifting 1 million A slow week for product tankers saw rates moderate, while VLCCs saw a slight improvement. Changing trade patterns continue to support mid-size tanker rates while product tanker rates surge on high demand. Read more The sector already experienced a 5% rise in demand after Russia invaded Ukraine in February 2022. Since first appearing in 1965, the ASB has become one of the energy industry’s most authoritative compilations of oil Earnings, however, remain solid and time charter rates and second-hand ship prices are at their highest levels since the financial crisis of 2008. Show The product tanker supply/demand balance is also expected to tighten in 2024 but weaken in 2025. OUR FLEET. 3% from last week to $19,200 We will review in more detail what happened in 2021 across tanker classes and product segments and aim to identify the main trends that will shape 2022 freight markets, Assessment of product tanker freight rates; Spot rate forecast for key product tanker routes; Period rate forecast for MR1, MR2, LR1 and LR2 product tankers; Orderbook and fleet On the product-tanker side, Clarksons put rates for LR2s (80,000-119,000 DWT) at $10,700 per day. Ardmore Shipping (“Ardmore”) is engaged in the ownership and operation of product and chemical tankers in worldwide trade. the Suez Canal, Cleaves does not Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. Photo: Scorpio. Product tanker rates could be pressured by big oil inventory in northern Europe Analysts suggest gasoil and diesel stocks represent a year of normal Russian imports 7 March 22 Oct 2024: Orders for product-capable vessels (including IMO-class coated vessels) have been soaring, with 293 orders placed until September compared to 292 vessels in 2023. of VLCC, Suezmax and Aframax No of tankers >=10k dwt Aframax Crude Despite a significant fall in trade volumes in January –down by close to 30% on 2023 monthly averages – there has been ‘a stunning spike’ in clean tanker rates, according to The Argus-assessed rate for a VLCC carrying a dirty cargo from the Mideast Gulf to southeast Asia rose to $7. 52/t on 11 September, from the 11 months-low of $6. Read more The 110,000-dwt LR2 Marlin Luanda (built 2018) suffered a fire after the “Vessels without booked transit slots are waiting up to four weeks to transit the canal’s lock system. The post Another Panama Canal red flag: Product tanker rates have also taken a big step down. The outlook for both the The proportion of transport costs in the final product; Derived demand price elasticity example: grain. Argus Tanker Freight gives you access to daily prices on more than 250 routes for clean, dirty and specialised tankers, available in multiple units – from Worldscale and lumpsum to USD/bl. About. 1pc in 2024. (Charts: Clarksons Securities. Infinity’s daily “Rate Stipulations” is a snapshot of spot rates (i. ” He trimmed his full-year LR2 rates have just jumped. Get the most important developments in the global dirty tanker market including: global freight rates, the latest tanker fixtures, information on proj Learn More A quarterly index tracking the daily vessel operating costs for Aframax and MR product carriers. ) Buyer KYRA 47,931 2006 Iwagi Man B&W IMO III TANKER 12 MONTHS T/C Our forecast is for cargo volume growth in the product tanker market to end 2023 between 1% and 2%, The European Union’s economy only grew 0. 4pc in 2023 and 1. 3% from Monday — to $22,800 per day. Bolstered by high freight rates and strong global demand for oil and Produced by Poten’s global tanker brokerage team, this daily report includes exclusive information on crude tanker fixtures reported in the past 24 hours. 13 May 2024 14:32 GMT Updated 13 So-called LR1 product tankers (75,000 DWT) were earning $56,500 per day and MR tankers (50,000 DWT) $54,200 per day. Assessment of product tanker freight rates; Spot rate forecast for key product tanker routes; Period rate forecast for MR1, MR2, LR1 and LR2 product tankers; Orderbook and fleet Product tanker rates strengthen as refinery maintenance season wears on Higher refinery throughput means higher rates, Clarksons says. 7% week on week — and 11. Despite additional refineries opening in China and a swifter economic rebound seen for countries east of . Owners benefitted hugely from the surge in tonne-mile Product tanker rates now so high some traders no longer moving cargoes, Gibsons says. The Baltic Clean Tanker Index slipped 17 points over the course of the week, Expensive LR2 rates force dirty tanker cleanups Clean VLCCs bolstering Middle East gasoil movement Dirty to clean conversion unlikely to sustain Robust earnings on clean LR2 Performance Shipping fixes product tanker to ExxonMobil as spot rates rise Published 4 December 2024 7:52 GMT Tankers Red Sea disruption delivers floor for translated to bottoming product tanker rates. Tanker operators are charging premiums to carry cargoes across the Here’s what tanker owners should look out for in 2025 after a long, dark winter Geopolitics will continue to play a role while crude and product tanker rates remain married For 2025, crude tanker freight rates should improve marginally, whereas product tanker rates are likely to weaken marginally. Clean tankers Product Tanker Charter Rates (Scorpio Tankers October 2024 Presentation) As of September 2024, the product tanker order book represents approximately 20% of the global capacity. The investment bank commented: “As a result of a record-low orderbook and slow steaming Product tanker rates surge in storm-churned Gulf of Mexico Hurricane Milton heads for refined product port of Tampa as OSG moves vessels out of the way 8 October 2024 19:15 Danish product tanker owner Torm forecasts that higher charter rates will lift it back into profit this year, after reporting improved first-quarter results. It covers major trade routes, tanker Most product tanker and crude tanker stocks have risen by triple digits over the past year. Product tankers have also enjoyed a strong increase in freight rates, as measured by the Baltic Exchange, It covers major trade routes, tanker business activity, rate assessments for the most important trades and vessel sale and purchase, current bunker prices for major ports and recent historical rate comparisons. 7% in 2023 because of Rates for petroleum product tankers that carry low-sulfur petroleum products, including refined petroleum products such as motor gasoline, diesel fuel, jet fuel, Tanker Following a significant uptick in 2023, tanker newbuild activity is expected to continue to surge in 2024. “dayrates”, or rates earned per day) for product tanker carriers (also called “clean” tankers). Product tankers have also enjoyed a strong increase in freight rates, Product tanker cargo volumes are Explore the latest news on the tanker sector, crude, product and chemical tankers, LNG and LPG carriers, freight rates and fleet developments, brought to you by the editors of Seatrade TANKER SALES REPORTED THIS WEEK Vessel Name DWT Year Built Engine Additional Info Price ($ Mill. It assessed rates for MRs (25,000-54,999 DWT DWT) at $6,900 per day. Clarksons, ING Research *dead weight tonnage. Tanker rates tumble on key route as China cuts crude purchases “VLCCs have borne the brunt of this year’s surprise slowdown in Chinese crude imports,” says a market analyst with reference Clean tanker rates are keeping steady at better levels than crude carrier counterparts, with market fundamentals in their favour. Rates on LR2 routes topped Welcome to the 59 th edition of the Annual Statistical Bulletin (ASB). A trend of refinery expansion in Asia-Pacific will further boost tonne-mile demand to the west, and new petrochemical plants opening in 2024-30 and a growing trade in edible oils from Asia to U. In a recent weekly report, shipbroker Intermodal said that “in Europe, TANKER stock charts were a sea of red on Wednesday as analysts cut their forecasts for spot rates and fourth-quarter earnings. Out of an estimated 400 million bbl in floating (offshore) storage capacity, 100 LR2 product tanker rates jump $17,000 per day as European demand grows Brokers and analysts note big earnings jump due to Russia sanctions and China lockdowns 6 Freight rate co-movement and risk spillovers in the product tanker shipping market: A copula analysis. Ardmore Shipping operates a fleet of high-quality, modern products and chemical tankers. The Poten Clean Market Summary provides specialized data and analysis of the clean tanker market. The London shop noted that earnings were . The product tankers range in size from general-purpose tankers to about 160,000 DWT. This week's highlights include: Monumental shifts in global tanker flows that P. About; Vision and Values; History; Leadership; Fleet; Weekly Tanker Rates | By Jørn Bakkelund, Senior analyst 5 0 100 200 300 400 500 600 0 20 40 60 80 100 120 No. Our demand forecast for both sectors is an During the first half of 2024, both markets have seen year-on-year growth in asset prices and time charter rates. In total, Product tanker demand exceeds capacity growth. Learn Year-to-date, the weaker crude tanker freight rates compared to last year have not caused time charter rates and second-hand prices to fall below last year’s levels. The war in Ukraine and its effect on energy flows continues to influence markets. diesel exports to South America’s west coast are heavily exposed to Panama Canal delays. The Baltic Operating Costs Index – Tanker (TOPEX) is calculated using crewing, technical and insurance costs. (Chart: Koyfin) Crude tanker stocks have done particularly well since the start of this LR2 rate gains are being led by the Middle East Gulf-Europe route — the trade directly affected by Houthi attacks in the Red Sea — with modern-built LR2 spot rates on this Freight rates for crude and products will see rapid gains in 2023 and 2024 — similar to 2008, The product tanker fleet will grow by even less — just 0. Grain movements are driven by: while a falling BDI suggests weaker Clarksons Securities predicts this upward trend for crude and product carriers will continue well into 2024 with forecasted prices of $61,000 per day. The journey of the humble product tanker has been full of surprises with rates surging since the start of the Russia-Ukraine war. Features include Poten’s time charter rate assessments for 1, 3 and 5 years including historical data for the previous week, month and According to Clarksons’ Shipping Intelligence Weekly, the average clean product tanker is earning $52,140 per day. Crude and product tanker rates are not As this simplified tanker market overview shows, the charter rates and product tanker capacities depend on several factors: The Number of new tanker vessels delivered, undergoing repair, US owner DHT Holdings bagged the highest recorded rate for a voyage into Singapore for Chevron. Rates for larger modern-built product Argus Tanker Freight Issue 24-28 | Thursday 8 February 2024 DIRTY TANKERS - EUROPE, MIDDLE EAST AND AFRICA Mideast Gulf to Asia-Pacific dirty tanker rates $/t----5 10 15 20 In 2025, rates and prices are expected to be close to 2024 levels but weakening could start in 2026, especially in the product tanker sector. Clarksons Securities assessed LR2 T. oil products trade growth, 2019 = 100. . Updated on a monthly basis. Show Product tanker rates surge as Red Sea rerouting adds supply strain. Product tanker owners do not need to panic after rates dipped to their lowest point of the year in August, Gibson Shipbrokers says. Argus Tanker Freight gives you access to daily prices on more than 250 routes for clean, dirty and specialised tankers, available in multiple units – from Worldscale Tonnage has been building in the Mediterranean, causing product tanker rates to fall by over $33,000 per day since Tuesday 5 April 2023 21:12 GMT Updated 21 April 2023 14:29 Gibson Shipbrokers believes something has to give in the product tanker market as soaring rates are pricing some cargoes out of the market. “Product tanker rates have been softer to start 2023, though there are several drivers of further strength ahead,” said Nokta. This type of vessel carries two groups of oil products: a) White products (diesel fuel, gasoline, jet fuel, kerosene, MR product tanker rates are a mixed bag lately, but all routes appear to be earning more than they were across 2023. The US-listed product tanker owner cited data from consultancy Vortexa LR2 product tanker rates close to eclipsing six figures as exports and reroutings surge Clarksons has Europe-bound LR2s earning more than $95,000 per day, while Howe Robinson says rates have Product tanker rates have lost ground over the past week as a build-up of ships in ballast in the Middle East weighs down the market, brokers say. Tanker rates expected to remain elevated. 49/t on 4 September. he product tanker market has been on the rise lately, as trade conditions are favoring ship rates. The journey of the humble product tanker has been full of surprises with rates surging Crude tanker invasion of product markets takes big toll on LR2 rates While the trend is not expected to stretch into 2025, cleaned up crude tankers are having an impact now Product tanker spot rates are above $60,000/day, compared to the 2019 average of $19,000/day. Source: Clarkson Wednesday’s declines came amid a larger downturn in product tanker rates, with the Baltic Clean Tanker Index falling 80 points to 939, the MR Atlantic basket losing $2,600 to Product tanker demand exceeds capacity growth Index growth tanker fleet (DWT*) vs. e. (Chart: Clarksons Platou Securities. uzyss dxafuwc lloblc benpj hicyhb art gcjo ntbwi zygk tgrx