The outlook for the tanker market for 2015 will depend on whether the Chinese will continue to build up stocks given the conducive low oil price conditions currently, said ICAP Shipping head of tanker research Stavroula Betsakou.
At last, there is some lift-off for the struggling crude tanker market. Earnings for VLCCs from the Gulf to Japan rose to $47,000 a day last week, and over $27,000 a day to the US Gulf.
Improvements to the Suez Canal announced in August are expected to provide a near tripling of revenue over the next decade and see transit times reduced from 18 to 11 hours, according to new information provided by the Suez Canal Authority (SCA).
DHT Holdings is raising $150m from a stock offering and selling $150m worth of bonds to part fund its acquisition of Samco Shipholdings and other fleet expansion plans.