Torbjørn Kjus is especially known for having predicted the oil price plunge a few years ago as an analyst at DNB Markets. Now, he has stepped down from his role in the Norwegian bank to assume a fund manager position, where he will manage deals in the wake of new global sulfur regulations.
The IMO's upcoming environmental regulations, which starting in 2020 will bar ships globally from emitting more than 0.5 percent sulfur on the world seas, could force the oil price up, projects DNB Markets.
The price for a barrel of North Sea crude will rise ahead of 2020, predicts oil analyst at DNB Markets, Torbjørn Kjus. The analyst has lowered his estimate but is overall more positive than other industry stakeholders.
Newbuildings in the market for VLGC's put further pressure on the rates for the Very Large Gas Carriers. LPG carriers will therefore also see their earnings squeezed in 2017, projects Drewry in a new analysis.
DNB markets believes that Maersk will take the stock exchange route as part of its new strategy. Shipping analysts at the major Norwegian bank expect a deficit of USD 121 million for Maersk Line in the second quarter.
The oil service companies are in the midst of a downturn so severe that it will continue the next two years, notes DNB Markets' oil service division on the basis of the 33 companies covered by its analysts.