Job Search
  CV Search
Carnival Cruise ship has technical issue causing ship to tilt to one side It was pure chaos Screams Cries Panic
The 2020 Global Sulphur cap
Demand Keeps Momentum in the VLCC market
Tankers: New refining capacity in India to trigger crude demand
New emission regulations in shipping

Maritime News

Which Trade Routes Will Influence The Tanker Market Moving Forward

Tanker owners are looking for new trends, which will shape up freight rates, hopefully towards bouncing upwards. In its latest weekly report, shipbroker Gibson said that “in the tanker market, there are many factors not directly related to shipping but which could still have a major impact on shaping up both crude and product tanker flows. The prime example of that is the US shale oil revolution. The resulting surge in US crude production not only enabled a spectacular growth in short and long haul crude tanker trade but also supported an ongoing strength in seaborne exports of US clean products. Large scale pipeline infrastructure projects would be another good example. In Russia, a successful completion of the 1st stage of the East Siberia Pacific Ocean (ESPO) pipeline, including the link into China mainland, limited the export flow of Russian crude from the Baltic and Black Sea ports but at the same time boosted demand for Aframax tonnage in the Far East. Once the 2nd stage of the ESPO line is completed, due in 2020, this will translate into even more barrels being exported from the Russian port of Kozmino, located on the coast of the Sea of Japan. In contrast, a looming pipeline crunch in the US from the Permian basin to the US Gulf threatens to slow the growth in US crude exports in the short term. However, several pipeline projects are scheduled for completion in late 2019/early 2020; which, once online, are likely to offer a big boost to crude tanker trade out of the US”.

According to Gibson “changes in regional refining capacity is also a critical factor that should never be ignored. In the Middle East, Saudi Aramco aims to start its new 400,000 b/d Jizan refinery later this year, while in Kuwait a new 615,000 b/d Al-Zour plant is pencilled to come online in 2020. Once these projects are fully operational, product exports are expected to increase substantially, as they did back in 2015/16 when a number of new regional refineries came online. This, however, also poses a threat to the Middle East crude exports, if barrels are diverted from export markets into domestic refineries. Will this be the case? Refining capacity in Asia continues to grow, supporting incremental demand for crude both from the Middle East and from further afield. We also are seeing a trend of national oil companies (NOCs) looking at refining projects in other countries, trying to secure the market for their crude. Earlier this week, Reuters reported that Saudi Aramco plans to deliver in October the 1st crude oil cargo to its joint-refinery project (RAPID) with Petronas in Malaysia. RAPID will contain a 300,000 b/d refinery and a petrochemical complex, with refinery operations set to begin next year. According to the same source, Aramco will supply 50% of the refinery crude oil, with the option of increasing it to 70%. As the Middle East oil companies build their presence in the downstream sector overseas, this suggests that the negative impact on the regional crude exports, following new refinery start-ups, could be limited”.

“In contrast, the future trade dynamics are likely to be very different in West Africa, following the start-up of the massive 650,000 b/d Dangote Oil refinery in Nigeria. The refinery is officially planned to start operations in 2020; however, the latest Reuters report indicates that the project could be delayed until 2022. Once the refinery comes online, it will have double negative implications for the tanker market. Crude exports are likely to come under downward pressure and, as Nigeria is a large importer of products, these are also likely to decline. Of all the factors described above, the new refinery in West Africa represents perhaps the biggest threat to tanker trade. Nonetheless, as US crude exports are expected to continue to grow in the medium term, this will help to mitigate the threat to dirty trade, and possibly offset it completely. West African product flows are still likely to change dramatically. However, if the Dangote Oil refinery proves to be a success, could we also witness a change in direction of the trade, with the surplus of Nigerian products being exported both regionally and across the Atlantic?”, Gibson concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide.

Published On September 10th,2018 @ !!!

 Featured Company
BAMS MARINE SERVICES PVT LTD,India Accord Marine Management Pvt Ltd,India Sea Wealth Marine Solutions,India
Yak Marine Pvt Ltd. ,India Jude Enterprises & Marine Services Pvt. Ltd.,India Mehdi Bros Ship Services Pvt. Ltd.,India
West Zone Marine Pvt Ltd,India Admiral Marine Services Pvt. Ltd.,India Udya Shipping Services Pvt. Ltd. ,India
CCrescent,India Nimbus Maritime Services Private Limited,India S K ENGINEERING SHIPPING I PVT LTD,India
Vrinda Global Pvt. Ltd.,India AUBURN SHIPMANAGEMENT DMCC,India Trycon Marine Services Private Limited,India
ASIA MARITIME SERVICES PVT.LTD.,India ASP Ship Management (India) Pvt Ltd,India Aark Shipping And Manning Pvt. Ltd.,India
Euro Crewing Service LLC,India Ocean Offshore Marine India,India AMAZE MARITIME SERVICES PVT. LTD. ,India
HOLY ANGEL MARINE SERVICES PVT LTD,India BD Shipping,India Global Jobs Pool. ,India
CORPORATE MARITIME SER PVT LTD,India Arctic Offshore & Manning Company Pvt. Ltd.,India Vigil Marine Services Private Limited,India
NAAVEX MARINE SERVICES,India World Ships Management Pvt Ltd,India Sea Wealth Maine Solutions,India
DS MARINE,India Trinitas Ship Management Private Limited,India OLIVE CREW MANAGEMENT,India
Nams Ship Management Pvt.Ltd,India IMS SHIP MANAGEMENT Pvt Ltd,India vencen marine solution,India
SS Maritime Services,India Seastrom Marine Pvt. Ltd.,India Malawat Ship Management Pvt.Ltd.,India
Mariners Community Ship Management Private Limited,India Primanav ship management pvt. ltd,India Oceanic Star Shipping Pvt. Ltd. ,India
SEASON SHIP MANAGEMENT & MARITIME SERVICES,India Tapti Waterways Private Limited,India Naz Maritime Services Pvt.Ltd.,India
Swar India Shipping Services Pvt. Ltd,India Quadrant Maritime Pvt Ltd,India Tangar Ship Management Pvt Ltd,India
Glance One Ship Management Pvt. Ltd.,India Oath Marine Services Pvt Ltd,India MARVIN INTERNATIONAL SHIP MANAGEMENT,India
Rassiya Shipping Services Pvt Ltd,India AUBURN SHIPMANAGEMENT DMCC,India Mr.Sushant,India
Summai Shipping Pvt.Ltd.,India MMS Maritime (India) Pvt.Ltd,India AMSWAY SHIP MANAGEMENT PRIVATE LIMITED,India
Seashell Marine Service Pvt. Ltd,India East India Shipping Agency,India Campbell Shipping Pvt. Ltd.,India
Phelix Shipping Ventures Pvt. Ltd,India I-Marine Infratech (India) Pvt. Ltd,India SHODEN MARITIME & SHIPPING VENTURES PVT LTD,India
Coastal Shipping Links(India) Pvt.Ltd,India DMC SHIP MANAGMENT PVT LTD ,India Unimar Marine Services Pvt. Ltd.,India
Three Bees Shipping Pvt. Ltd,India Ocean Glaxy Marine Pvt. Ltd.,India VR MARITIME SERVICES PVT LTD,India
Seaprime Marine Mgmt Pvt.Ltd,India sarwamangla Marine Pvt Ltd,India Twilight Shipping,India
Indocean Maritime Services Pvt Ltd,India Valaf DMCC,India Lilly Maritime Pvt. Ltd.,India
Neptune Ship Management ,India Nimbusmaritime Service,India MMS Americas LLC,India
Amag Ships Pvt. Ltd.,India gwl maritime services india pvt ltd ,India Blue Whale Maritime,India
Join Hands Marine Services Private Limited,India DEMENTUS SHIP MANAGEMENT INDIA PVT LTD,India Meridian Marine Management Private Limited,India
Penta Crystal Ship Management,India Oceanic Shipping Services Private Limited,India Synergy Maritime Recruitment Services Pvt Ltd,India
MAERSK ,India Oceans Pride Marine Services Pvt. Ltd.,India RAMAN MARITIME ACADEMY PVT. LTD.,India
SeaJobhunt,India APAC Marine Services Pvt. Ltd,India Angel Maritime (India) Services ,India
Albatross  Marine Services  ,India AET Shipmanagement (India) Pvt. Ltd,India Helm Shipping Management Private Limited,India
SHRI MAHAVIR MARINE SERVICES PVT LTD,India Ind-Aust Maritime Pvt. Ltd,India Bridgeview Maritime Pvt.Ltd,India
Calm Seas Shipping and Maritime Services,India Ad Ship Management pvt. Ltd,India Tristarr Maritime And Shipping Private Limited,India

Copyrights © 2012
Terms and Conditions  -   Sitemap  -   Private Policy  -   FAQ  -   Contact Us
Site By : Pheunix