In the wake of what the Norwegian shipping and offshore bank DNB characterizes as a meltdown in the oil market in 2015, there are better days ahead in 2016 - in fact, the prospects look so good that the USD 38 per barrel oil price in the first quarter will climb to USD 50 in the second quarter before hitting USD 65 in the fourth quarter this year, according to the bank's latest oil report, which does not hide DNB's positive outlook on the oil price development.
"These oil price forecasts are all above the consensus. We want to signal that we are more positive to oil prices than most others. This is what we want our customers to remember in a year’s time when we are summarizing what happened in 2016," notes the bank in the report.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app
Get full access for you and your coworkers.
Start a free company trial todayMore from ShippingWatch
West Coast dockworkers continue negotiations after contract expiration
Union and employers expect to finalize a new labor contract covering 22.000 dockworkers on the U.S West Coast. Cargo will keep moving during negotiations.
Drewry eyes beginning of the end of major container upswing
The container market has turned and can see the beginning of the end of the extreme upswing. New numbers from World Container Index shows a ”material weakening” in spot rates, according to analyst.
Lars Kastrup becomes sole CEO of container carrier PIL
After over a year of sharing the helm of Pacific International Lines (PIL) with Gan Chee Yen, Lars Kastrup has been appointed the sole CEO of the Singapore-based container carrier.
CMA CGM to lower freight rates – but only for domestic customers
The world’s third largest container carrier responds to the French Ministry of Finance’s call by lowering container rates by approximately 10% for French retail chains, writes Reuters.
Clipper turns loss into profit in Danish company – "sensible progress" within dry bulk
Clipper’s Danish company Clipper Group, which includes RoRo carrier Seatruck Ferries, has turned red figures into the biggest profit in five years. The large dry bulk business, which Clipper does not disclose any numbers for, has progressed the last year and a half, says top exec.
Crewing officer 
Senior Sales Manager 
Senior Legal Counsel with a focus on Offshore Renewables 
IT Operations & Project Lead 
Head of Airfreight 
Experienced Bunker Trader - Dubai 
Technical Security Manager 
Head of Vessel Operations 
Safety Leadership & Transformation Manager