Tanker Market Outlook 2H 2020, Charting the Course Ahead
Now watch our Freight webinar on demand, discussing the tanker markets downfall in H1 2020, and the key drivers for the market today. Presented with Braemar ACM.
Presented in conjunction with Braemar ACM Shipping, we held a 45 minute webinar discussing the tanker market, how it went from boom to bust in the first half of 2020, and what trends we see for the remaining year.
Unique market conditions that led to the floating storage rush were not sustainable in the long-term and were unable to help prop rates at yearly highs. If freight remains pressured will this lead to an uptick in flows or is demand set to remain low for the short to medium-term?
- The key drivers of the tanker freight markets today from crude and refined products flows
- The rise of floating storage and our predictions for 2H 2020
- Supply of tonnage within the tanker market and the effect of today’s environment on the orderbook
- How demand and supply in the tanker markets for 2H 2020 will ultimately impact freight rates
Key Takeaways from the session:
- High stocks will delay a recovery of demand from translating into a recovery in tanker freight markets
- Active fleet will grow much faster than the suggested headline numbers
- With demand well below year-ago levels and supply likely to be larger as floating storage unwinds, the seasonal winter freight spike is likely to be capped this year.