ShippingWatch

Product tank orderbook stands at 11 percent

The total orderbook for product tank stands at 11 percent of the fleet, and all the major shipyards are filled till 2015, writes analysts Fearnley.

The upswing in product tank is supported by a new study from analysts Fearnley. The analysts conclude that the total orderbook for product tank now stands at 11 percent, which means that all the major yards are fully booked for product tank ahead of 2015, and till 2016 for Japanese yards, writes Fearnley, which estimates that demand will exceed the supply of capacity from 2013 and onwards:

"This will improve the market balance, however, with a current oversupply of ships we believe the rate development will improve gradually. We believe asset prices have bottomed and are positive to selected names in the sector," writes Fearnley, pointing to companies such as Frontline 2012, Scorpio Tankers, and d'Amico Int. Shipping as companies that are well positioned for an eventual upswing in the sector.

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

Ørsted wants Maersk as customer in green methanol project

Energy company Ørsted has just bought 45 percent of Swedish Flagship One, which is set to produce green methanol for the shipping industry as of 2024. Ørsted's head of hydrogen wants Maersk as customer in the large scale project, he tells ShippingWatch.

Singapore names its biggest bunker suppliers

TFG Marine, a bunker company founded by two John Fredriksen-controlled carriers and commodity trader Trafigura, is among the five biggest bunker suppliers in Singapore in 2021. See the list here.

Record number of ships passed through Suez in 2021

Despite the blockage in the Suez Canal during spring of last year, the crucial waterway set a record for the number of ships passing through in 2021, reports Bloomberg. The canal is expected to complete an expansion by the middle of next year.

Further reading

Related articles

Latest news

See all jobs