ShippingWatch

Deutsche Bank sees increasing MR-rates

The first full-year results of the product tanker segment spell good news for the industry going forward, Deutsche Bank shipping analyst Amit Mehrotra tells ShippingWatch. He sees daily MR-rates improving over the next two years.

Although the latest full-year results of the product tanker segments turned out to be in the red, the 2016 reports of the industry in general spell good news going forward. This is at least the assessment by Deutsche Bank shipping analyst Amit Mehrotra who has covered the tanker industry for years with a special focus on carriers like Ardmore and Scorpio Tankers.

Monday this week Scorpio Tankers took a hit from the deteriorating tanker market in the second half of 2016 – a year which otherwise started off promising for the sector. The carrier, which is listed in New York, suffered a full-year net loss USD 24.9 million, a major setback compared to a profit of USD 217.7 million in 2015.

Read the whole article

Get 14 days free access.

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
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs