OPEC ! Votes in Favour of Tankers

As refinery utilisation increases around the world and in particular in the USA where it jumped back over 81%, the demand for crude and transportation should increase. World inventories of crude should be back to the 5 Years average within 3 months and Oil demand should have then recovered by 3 million barrels a day.

OPEC+ has decided to increase gradually production by 2.1 million barrels a day by the end of July, subject to cautious monthly reviews of the situation. As the net offer of new tanker capacity offer should be around 1% this year, the second half bodes well for tanker demand. Day rates are still low and the catch up is to come with the US driving season. Today is a good time to start loading up on the trade. With the Biden Infrastructure plan and the project for 30 GW of Offshore Wind farm capacity, Wind Tower Installation Vessels which are less than 6 to install turbines of 12 MW + should thrive.

The bet taken by SCORIPIO BULKERS, Now ENETI, should be a big game changer for the company. Shorter term, ACKERMANS VAN HAREN which with DEME got the Vineyard 800 MW installation program is a stock worth re discovering in this environment. Especially its subsidiary CFE jointly owned by VINCI ENERGY. We own both these stocks…

EURONAV published a communique on Ammonia in light of IMO2030. These new fuels are going to be a big source of debate for shipowners in the next renewal of the fleets…