Teekay’s Market Analyst Christian Waldegrave gives his September 2012 conventional tanker market update while attending the Jefferies Conference in New York on September 5th.
Waldegrave notes we are well into the Q3 “summer doldrums” where tanker rates have dropped due to seasonal reasons. Rates have been further depressed however, due to stockpiling events which occurred earlier in the year, especially in Asia as a hedge against potential Iranian supply disruptions, as well as for strategic reasons.
For more of his insight, watch the following video:
The following are images from Teekay’s marine markets Powerpoint presentation given at the conference, please click HERE to download the presentation its entirety.