Gulf oil exports top pre-war levels, and the crude still needs tankers

Pipelines move Gulf crude to new loading ports rather than to buyers, and refilling depleted oil stocks should absorb the extra barrels. Exports exceed pre-war levels as pipelines change where tankers load Middle East oil exports averaged more than 24 million barrels per day (bpd) in the week ending 18 October, above the pre-war 23.3 […]

Further upside in asset values if earnings remain elevated

Historical trends suggest further upside in suezmax/crude tanker values, while elevated period rates support asset prices and future earnings. The recent surge in tanker earnings has pushed crude tanker asset values to new highs. However, historical data suggests further upside may remain, as asset prices often follow improvements in earnings with a lag. Since 2020, […]

Asset values and period rates stay firm as spot earnings ease

Hormuz attacks and tight vessel supply keep charterers focused on securing ships for longer. Tankers: Suezmax and Aframax values rise further as spot earnings ease Average tanker earnings eased 4% week-on-week to about $295,000/day, just below recent records. Gulf exports and ship-to-ship transfer delays continue to absorb vessel capacity. One-year timecharter rates stand at about […]