Product tanker soars on big slide in US gasoline reserves

Deutsche Bank points to significant upside in the oil product tanker market over the next 12 months. This would be good news for IPO candidates such as Torm and Hafnia Tankers.

by OLE ANDERSEN

A massive slide in US oil product stockpiles has in recent weeks sent product tanker rates skyward across most of the key trade routes. While this is good news for the product tanker carriers right now, following a weak 2016, Deutsche Bank displays growing confidence in a more sustainable recovery and a significant share upside for investors in several carriers for the next 12 months.

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Product tanker soars on big slide in US gasoline reserves

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Hafnia Tankers made a profit in challenging market

Tanker rates need to improve before Torm launches IPO

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Front page now

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

A simple reason could explain low dry bulk rates despite good demand

Dubai challenges Singapore as shipping's favorite city

Opinion: Europe's key ports have become better connected after Covid

Cosco to build production chain for green methanol

Russia’s diesel ban threatens to roil global markets – if it lasts

TotalEnergies chief exec: Unreasonable to ban Russian LNG before 2025

John Fredriksen has increased his wealth by NOK 81bn this year

Hapag-Lloyd rolls out Starlink internet to entire fleet

European Energy gets new partner for methanol plant

CMA CGM and Maersk will need help in new green lobbying alliance

Habben Jansen calls on energy majors to do more for the green transition

Further reading

Chief executive: Bolloré acquisition will transform Ceva's air cargo business

Jan Rindbo warns against tunnel vision: "The honest answer is that none of us know what we'll be sailing on"

Dubai challenges Singapore as shipping's favorite city

John Fredriksen has increased his wealth by NOK 81bn this year

Cosco to build production chain for green methanol

Carsten Mortensen wants to build green reefer ship for banana export

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