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Tanker Market Report: October 2008 Insights and Trends Update

Get the latest data from the volatile tanker market in October 2008. Analysis on BDTI, BCTI, oil demand, bunker prices, fleet growth, and future influences. Stay informed with key industry updates.

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Tanker Market Report: October 2008 Insights and Trends Update

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  1. Opatija TankerCharteringReport October2008

  2. Tanker Market Volatile 2005-20072007-2008 BDTI- 60%+ 70% BCTI- 61%+ 82%

  3. BalticDirtyTankerIndexJanuary2005-October2008

  4. BalticCleanTankerIndexJanuary2005-October2008

  5. TankerCharteringReport Bunker Prices in Rotterdam Rose from $390 to $557 per tonne Plus 45.5% Peaking @ $729.50 July ’08 Now $357

  6. Tanker Chartering Report • Global Oil Demand up 1.3% yoy • Actual +0.97 (1.5m) b/d 2007 +0.43 (2.2m) b/d 2008 • Oil Price $90/bbl 2009 • Now $72

  7. TankerChartering Report Low level of oil stocks – worldwide Heavy refinery maintenance High USA demand after hurricane damage Increased OPEC output/oil on water Japan + China restocking Hebei Spirit – December 9 2007

  8. Tanker Chartering Report • China + 4.6% yoy driven by Car ownership + 1,000 cars per day air travel construction agriculture petrochemicals oil stocks

  9. Tanker Chartering Report Oil Demand (2007) India +5.0% North America +0.47% Europe -2.2%

  10. Tanker Chartering Report • Clean Tanker Trades Directionless despite Refinery problems in the Atlantic basin. More exports from Europe Congestion problems in discharge areas India increasingly a supplier to Europe and Asia

  11. Tanker Chartering Report • Growth of tanker fleet 2.7% dwt in first 9 months of 2008 (net) • 66 single hull tankers gone for conversion to Storage, FPSO or VLOCs • Double Hull Fleet = 76% of existing fleet

  12. Tanker Chartering Report • VLCC average earnings: • 2006 $60,289 • 2007 $54,979 • 2008 $100,500 (to date) • 3 Oct $85,693

  13. Tanker Chartering Report • Future influences (Short Term): Alternative Suppliers & pipelines Fuel/coal/gas Response to “green” legislation

  14. Tanker Chartering Report • Future influences (long term): • 15 years/+ end of production from the largest fields found in last 40 yrs: North Sea/Alaska/Sakhalin New deep water finds: Brazil/Gulf of Mexico

  15. Tanker Chartering Report • Future influences (Long Term): Current finds are smaller capacity – indicating maintenance of high oil price = $ ??? or no return to low oil price = $ 20

  16. Tanker Market Lookout For the Hurricane!

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