Teekay’s Manager of Research, Christian Waldegrave notes that following the past few months of weakness within the crude tanker market as a result of refinery maintenance and a decrease in OPEC production, there is a light at the end of the tunnel as oil refineries come back on line and as China builds their stockpiles with record oil imports.
Courtesy Teekay
This increase will also be supported by an increase in long-haul tanker traffic between west Africa and China, which is expected to be the highest of all time next month. This will in turn boost the Suezmax market notes Waldegrave.
Watch Christian Waldegrave’s full report here:
Into 2014, Waldegrave sees continued improvement as the orderbook for crude tankers thins out, particularly in the Aframax and Suezmax sectors.
When President Donald Trump sat down to lunch with his Japanese counterpart this month, talk turned quickly to how Tokyo could help realise a decades-old proposal to unlock gas in Alaska and ship it to U.S. allies in Asia.
Swedish and Finnish police are investigating a suspected case of sabotage of an undersea telecoms cable in the Baltic Sea, and Sweden's coast guard has deployed a vessel to the area where multiple seabed cables have been damaged in recent months.
Global marine fuel sales jumped in 2024 after attacks by Yemen's Houthis starting in late 2023 prompted most shipping companies to divert vessels around southern Africa rather than through the Red Sea, according to data and analysts.
February 12, 2025
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