Average earnings  across the key tanker classes marked a return to year-on-year gains during 2012,paring losses observed during 2011.The key VLCC,Suezmax and Aframaxsegments recorded a 31% y/y rise in earnings, led by strong gains of 28% Download File[PDF]

The US Energy Information Agency (EIA) released their first Short-Term Energy Outlook (STEO) of 2013 earlier this week to much fanfare in the financial press. A continuation of production capacity increases in North America was indeed front page news.Although the growth to date in North American production Download File[PDF]

Another consequence of poor freight rates and the oversupply situation is the impact on asset values.Preliminary analysis of sale and purchase activity for 2012 indicates that the number of second-hand tanker sales fell to the lowest level sice 2009.Asset values fell steadily throughout last year bringing Download File[PDF]

Another consequence of poor freight rates and the oversupply situation is the impact on asset values.Preliminary analysis of sale and purchase activity for 2012 indicates that the number of second-hand tanker sales fell to the lowest level sice 2009.Asset values fell steadily throughout last year bringing Download File[PDF]

Reported spot activity for larger dirty tankers increased by 5% from 2011 to 2012. Suezmaxes saw the greatest gains, increasing more than 10%, thanks to the increased loading activity from such regions as the Caribbean and Arabian Gulf (discussed in our September 28th, 2012 opinion). Aframaxes and Download File[PDF]

As the Holiday Season nears its crescendo, the approaching new year has provided its usual litany of annual reviews and next year outlooks, including those offering potential surprises for the new year. Often thought-Download File[PDF]

2012 did indeed prove to be challenging for the tanker market.On several occasions earnings fell below fixed operating cost on several of the benchmark routes. Rising bunker costs provided owners with a major headache Download File[PDF]

Individuals active in the shipping or oil industry are aware that residual fuel and bunker prices have been rising in recent years. In 2012, the basket of bunker prices that we track at major ports reached an all-time high of almost
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For decades now , Nigeria has been constrained in upstream development due to a lack of investment and losing revenues to a relentless attack on its oil industry, costing the country an estimated $7 billion annually. Download File[PDF]

Export flows out of Former Soviet Union (FSU) states continue to undergo rather dramatic shifts. A recently completed expansion of the Eastern Siberia-Pacific Ocean (ESPO-2) pipeline will give producers in the FSU further Download File[PDF]