London-based Navig8 Tankers is well on their way to achieving a significant position in the evolving tanker market as they continue to head to Asian shipyards with orders for more ships. After issuing over 1.8 million shares in a private share placement, Navig8 added $245 million to their coffers which has allowed them to fund their existing eight VLCC newbuilds under … [Read more...]
Will the Final Quarter of 2013 Bring Good Tidings to the VLCC Market?
From the perspective of tanker owners, particularly of larger tonnage, it is clear that 2013 will not be remembered fondly. Rates have languished at levels most thought had been consigned to history as tonnage remained abundant in the primary load regions throughout the year. This has been further exacerbated by the altered trading landscape stemming from the US crude oil … [Read more...]
Geopolitical Turmoil Is Spilling into the Tanker Market
While the sizzling summer months are coming to a close and cooler weather is beginning to set in in the North East United States, political tension in the Middle East and North Africa are causing the mercury to rise and “hot spots” are being ignited. As with many aspects of the energy sector, the impact of these types of events could be fast and far reaching. The … [Read more...]
The Dog Days of Summer are Sapping the Momentum of Clean Tanker Rates
The current heat wave on both US coasts makes the idea of going anywhere, with the exception of the beach, an unappealing task. Nevertheless, roads and highways are crowded, which can be somewhat attributed to a slow but gradually improving US economy. As a result, there has been a recognizable boost in gasoline demand. Data from the US Energy Information Administration (EIA) … [Read more...]
Tanker Market Analysis: Head for the Exits?
By McQuilling Services, LLC, Situational awareness requires that people know their surroundings and the risks inherent therein. In a crowded theater, one should always make sure to know the way out. The phrase: “In case of emergency, proceed to the exits in an orderly fashion” comes to mind. Many sectors of the shipping industry are presently facing an … [Read more...]