Crude Oil

The tanker shipping market, an industry that utilises assets with a 20-year lifespan, is facing a “profound impact” from potentially falling oil demand in the long term, according to analyst Poten and Partners.

The lack of tanker newbuilding orders, coupled with reduced freight and asset values over the past few months, are current developments that would lead to a more positive market in 2021 and beyond, according to a panel of industry players at the...

The VLCC market can look to an expected improvement in US Gulf exports to China over the coming weeks, though uncertainties will kick in by early-November, according to analyst Poten & Partners.

Reports have been emerging that the US has seized four product tankers said to be bringing Iranian gasoline to Venezuela.

Oslo-based energy analyst Rystad Energy estimates that today’s oil supply demand imbalance of more than 26m barrels per day (bpd) should fall to 13.6m bpd in May and about 6m bpd thereafter.

The Singapore authorities have sought to reassure businesses that there is “no serious impact” on the bunkering and oil trading sectors from the bankruptcy filing of major local player Hin Leong Trading.

Seismic survey companies are likely to be hardest hit by low oil prices and the downturn in exploration and production (E&P) investment, according to Oslo-based energy analyst, Rystad Energy.