Danish Ship Finance has published its latest keenly awaited biannual shipping markets report, backing up coverage led by Splash Extra that suggests the tanker trades are on course for their best earnings this century.
The influential report, which tends to be read by thousands within the industry, covers all the main sectors, but reserves its most glowing commentary for the crude and product trades, which it says are positioned for an “extraordinary” earnings season this year and next.
Distance-adjusted demand is predicted by the Copenhagen outfit to expand by 5.6% and 10.9%, for crude and product tankers respectively, while the fleets are scheduled to expand by less than 3%. When the Danish analysts then added the fleets’ reduced cargo-carrying capacity as a result of longer travel distances, and the expected slow steaming of older vessels in the wake of the new International Maritime Organisation regulations – EEXI and CII, Danish Ship Finance said tankers have one of the strongest market outlooks for decades.
View entirety: Splash 247