Author Topic: Crude oil tanker oversupply manageable, but should be eliminated  (Read 5834 times)

Offline Hannes van Rijn

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Crude oil tanker oversupply manageable, but should be eliminated
« on: November 04, 2017, 04:54:28 AM »
The tanker market is oversupplied by about 30 to 40 VLCCs and 20 to 30 Suezmaxes, but the sooner this can be eliminated, the sooner freight markets will recover, Paddy Rodgers, CEO of the Antwerp-based tanker giant, Euronav, told Fairplay.


Offline pieter melissen

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Re: Crude oil tanker oversupply manageable, but should be eliminated
« Reply #1 on: November 04, 2017, 05:51:50 PM »
Quote "Likewise, owners should refrain from ordering tonnage that would be surplus to requirements"

Either an optimist or a rather naive shipowner.

Offline Captain Ted

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Re: Crude oil tanker oversupply manageable, but should be eliminated
« Reply #2 on: November 05, 2017, 02:38:38 PM »
I agree with Pieter
But the US economy is on a roll,,,and it seems by relaxing more and more enviromental regulations all stops and plugs are pulled. It will last a while and usually when the US economy rolls the world economy benefits too.
However, once it hit the wall at the next crash which will come for sure, that crash will be worst than anything else experienced before. The shipping industry will of course benefit too, but the landing will be rough and unforgiving !!!!
NOW!!!,,,if we could get rid of the sailors,,how safe shipping would be !!!!!!!!

Offline MattB

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Re: Crude oil tanker oversupply manageable, but should be eliminated
« Reply #3 on: November 19, 2017, 09:38:51 AM »
How would someone go about investing in one of these vessels operated by Euronav?

Isn't there somewhere you can buy a share in the cargo being shipped or own a share of a vessel so one may benefit in the upturn of business ?


Regards,

Offline pieter melissen

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Re: Crude oil tanker oversupply manageable, but should be eliminated
« Reply #4 on: November 20, 2017, 07:36:47 AM »
Matty, shares in ships is a typical issue for the container market. The Germans hsve been very good at that and the tax system needs to favour such construtions. In the end when the crisis comes,(and it always comes) most of the time the shareholders, and not the operators of the ships will suffer.

 

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