THE tanker market has ticked up significantly from 30-year lows last year, according to latest data from London's Clarkson Research reports the UK's Seatrade Maritime News.
Clarkson's Shipping Review & Outlook, Clarkson Research managing director Stephen Gordon identifies sees positive developments in tonne-mile tanker demand, following 30-year lows in 2021 against a backdrop of war in Ukraine and a small orderbook.
In light of a strong focus on energy security, Clarkson is projecting a 65 per cent increase in LNG shipments over the decade, with trade volume expected to reach 630 million tonnes by 2030, up from 380 million last year. With specialist LNG builders mostly full for the next several years, rates are likely to remain strong, having risen to multi-year highs recently.
Meanwhile, although the LPG sector will have to absorb a significant volume of new tonnage in 2023, rates remain healthy. Offshore oil and gas markets have made positive progress and the offshore wind sector is growing rapidly, Mr Gordon wrote.
More broadly, for shipping, the war in Ukraine, rising inflation and economic trends in China have generated uncertainties over the global economic outlook. Clarkson projects GDP growth of two to three per cent annually this year and next, down by about 1.5 per cent on pre-conflict expectations.
Seaborne trade volumes have been downgraded therefore, with volumes in tonnes now expected to rise by 0.9 per cent this year, down from a forecast of 3.5 per cent at the start of the year. However, the conflict in Ukraine is changing trade patterns, creating additional tonne-mile demand. Together with other inefficiencies such as port congestion, this is partly offsetting the downgrade in trade volumes.
The analyst's cross sector ship earnings index, ClarkSea, has eased slightly this month, but is still at US$38,881 per day for the year so far. This is a 146 per cent increase on the 10-year trend and higher than at any time since 2008.
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Clarkson's Shipping Review & Outlook, Clarkson Research managing director Stephen Gordon identifies sees positive developments in tonne-mile tanker demand, following 30-year lows in 2021 against a backdrop of war in Ukraine and a small orderbook.
In light of a strong focus on energy security, Clarkson is projecting a 65 per cent increase in LNG shipments over the decade, with trade volume expected to reach 630 million tonnes by 2030, up from 380 million last year. With specialist LNG builders mostly full for the next several years, rates are likely to remain strong, having risen to multi-year highs recently.
Meanwhile, although the LPG sector will have to absorb a significant volume of new tonnage in 2023, rates remain healthy. Offshore oil and gas markets have made positive progress and the offshore wind sector is growing rapidly, Mr Gordon wrote.
More broadly, for shipping, the war in Ukraine, rising inflation and economic trends in China have generated uncertainties over the global economic outlook. Clarkson projects GDP growth of two to three per cent annually this year and next, down by about 1.5 per cent on pre-conflict expectations.
Seaborne trade volumes have been downgraded therefore, with volumes in tonnes now expected to rise by 0.9 per cent this year, down from a forecast of 3.5 per cent at the start of the year. However, the conflict in Ukraine is changing trade patterns, creating additional tonne-mile demand. Together with other inefficiencies such as port congestion, this is partly offsetting the downgrade in trade volumes.
The analyst's cross sector ship earnings index, ClarkSea, has eased slightly this month, but is still at US$38,881 per day for the year so far. This is a 146 per cent increase on the 10-year trend and higher than at any time since 2008.
SeaNews Turkey