Tanker carriers face another tough quarter

Tanker carriers are battling low earnings, and rates are far from high enough to secure black figures in the second quarter, says US firm Morgan Stanley. ShippingWatch has dived into a struggling market for a closer look.

by SØREN PICO

The first half year of 2018 will probably be a particularly tough one for tanker carriers which ship crude oil around the world. Soon, carriers such as Euronav, Frontline and DHT Holdings will announce second quarter figures, lifting the veil to reveal how tough going their situation is.

Already a subscriber?Log in here

Read the whole article

Get access for 7 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

With your free trial you get:

Access all locked articles

Receive our daily newsletters

Access our app

Get full access for you and your coworkers

Start a free company trial today

Chinese player to charter up to 60 vessels from major tanker carriers
For subscribers
Trade war dissolves demand for natural gas cargo from US to China
For subscribers

Sign up for our newsletter

Stay ahead of development by receiving our newsletter on the latest sector knowledge.

Newsletter terms

Front page now

Container

Liner companies pay soaring sums for charter deals

With fewer and fewer large ships available, container lines are willing to pay sky-high prices to charter ships that are delivered during 2025.

Record influx of container ships this year will not cause trouble until 2025

Congestion in Asian ports is now as bad as during Covid

For subscribers

Halvor Sveen is chief executive of Oslo-based shipping bank Maritime & Merchant. | Foto: Marine Money/Oscar May

Suppliers

Maritime & Merchant notes fierce competition in loans for shipping

For subscribers

The penal code provision on trespassing is used when someone enters private property without permission. | Foto: Jens Dresling/Ritzau Scanpix

Container

Multiple arrests as protestors block entrance to Maersk HQ

For subscribers

Offshore

Maersk Supply Service aims to quadruple profits

For subscribers

Chief executibe of Wallenius Wilhlemsen Lasse Kristoffersen, and chief executive of Höegh Autoliners Andreas Enger. | Foto: Wallenius Wilhelmsen and Javad Parsa

Carriers

Norwegian car carriers bag multi-year contracts

For subscribers

Logistics

Packed container ships trigger surge in air freight demand

For subscribers

Record influx of container ships this year will not cause trouble until 2025

The number of container ships is growing at record speed, but will not cause serious overcapacity until 2025, according to Bimco.

For subscribers

Gilbert Walter is new chairman of shipbroker BRS. | Foto: BRS

Shipbroker BRS appoints Gilbert Walter as chairman

While Francois Cadiou steps down from the role he has held for four years, he remains a newbuilding broker in Paris for the company

For subscribers

Spot prices for container freight continue to rise

This marks the 12th consecutive week that spot prices for containerized freight are increasing.

Foto: Hannibal Hanschke/Reuters/Ritzau Scanpix

IMO's fossil fuel ban in the Arctic faces criticism

On July 1, the use and transportation of heavy bunker oil by ships in the Arctic will be banned. A climate organization now accuses the ban of being full of loopholes.

For subscribers