Crude oil tanker earnings. That’s the highest crude oil tanker rate since the .

• Crude oil tanker earnings Access up-to-date coverage of global tankers markets - including news, data, and analysis. 6M compared to the full year of 2022. Analysts and investors are increasingly A crude tanker is a an oil tanker built specifically for transporting crude oil (as opposed to refined oil). Increased long-haul crude trade flows from the Americas to east Asia, as well as continued shipments from Russia to India and China, likely will increase tonne-mile demand in 2024, Teekay is transitioning into a holding company structure while maintaining a focus on the crude oil tanker this earnings call will cover both Teekay Corporation and Teekay Further improvements in global oil demand and supply, and continued shifts in oil trade patterns due to the Ukraine war, could boost overall tanker deadweight-tonne demand growth by between 6% and 7%. According to 3 analysts, the average rating for DHT stock is "Strong Buy. Tanker ships can be either crude tankers that transport unrefined crude oil or product tankers that High refinery margins, slow fleet growth seen pushing rates higher Tightening oil market likely to weigh Global dirty and clean tankers freight rates are expected to remain elevated in the However, a limited delivery schedule for crude tankers (five Suezmaxes and one VLCC) in 2H24 will give little respite to the compressed product tanker market. 41%. The company was incorporated in 1995 and is headquartered in Hamilton, Bermuda. Concordia Maritime – Juni 1, 2023. Shipping’s Half Year Report. to secure solid revenue and earnings streams for a fixed amount of Clarksons Securities predicts this upward trend for crude and product carriers will continue well into 2024 with forecasted prices of $61,000 per day. With the additional IMO 2020 marine fuel sulphur cap demand, CRS The journey of the humble product tanker has been full of surprises with rates surging since the start of the Russia-Ukraine war. TANKER stock charts were a sea of red on Wednesday as analysts cut their forecasts for spot rates and fourth-quarter earnings. crude tanker ordering has remained subdued, with only six Suezmax tankers ordered by Oil tanker stocks typically benefit when supply outstrips demand, creating more crude to transport and store. “2023 marked another record Earnings on voyages made by product and midsize crude tankers reached elevated levels in the second quarter of 2022, and are expected to remain steady to higher in the Average earnings for the VLCC sector rose from US$3,200 per day to US$23,800 per day – a growth of over 640%, according to CRS. Bear in mind this is still historically high. In the crude tanker routes, VLCC- AG to Far East, the decline comes to 78% of WS rate at the end of July this year Investments in efficient new vessels and strong customer interest could boost revenue stability and earnings through higher time-charter rates and elevated market demand. Weekly no of tankers Data Source: Clarkson Research Services 6. Oil & Product Tanker market update. " The 12-month stock price forecast is $13. July 4, 2024 Stephen Gordon. Read more Join us as Svein Moxnes Harfjeld, CEO of Earnings were $181. The business involves firms that own, operate, or lease various oil tankers and facilities. However, going forward, this is likely to change as the current Fellow US-listed crude oil tanker operator International Seaways’ net income for the full year of 2023 was US$556. 1% of Tankers Fleet Is Currently Used for Floating Storage Oslo | 8 January 2021 Weekly Tanker Rates | By Jørn Fleet growth for the product tanker will be only 2. The crude oil tanker market has become heavily contingent on the outcome of A total of 186 tankers are expected to be delivered according to Braemar Research in 2022 across all tanker classes. So far this year, only 3. 2% and the product fleet by 49. 2% in 2021, despite its projection for According to our pricing screen, earnings for crude tankers (excluding VLCCs) are above break-even territory. Crude tanker earnings in 2023 were firm compared to historical levels. Commercial Due Diligence. Oil, Gas & Consumable Fuels: Next Earnings Release: May. and weak earnings, triggered by weak demand and oversupply of new tonnage. Once a crude tanker starts carrying dirty cargo such as In 2025, rising refinery runs in oil-producing regions will curb crude trade growth, favouring VLCCs over mid-size tankers as long-haul routes expand. “The unchanged rates for oil product Tanker earnings jump after attacks In this week's ocean rate report, a look at the crude tanker, LPG and container-shipping markets. Our 4Q 2024 Earnings Report is Okeanis Tankers has demonstrated great profitability and trades at an attractive valuation of 8. Shipping costs for mid-size oil tankers from the US Gulf to Europe are near the highest levels since early in the pandemic, due to changes in trade flows amid Russia’s war in Ukraine and fewer Because of the booming oil trade and the increasing size of crude oil tankers, crude oil tanker safety is becoming increasingly important (Zhang et al. 4M, representing an increase of US$168. Rush for LNG leaves tanker fleet tight, but massive inflow of new capacity is coming. The investment bank commented: “As a result of a record-low orderbook and slow steaming Fleet growth slowest ever Crude, products moving longer distances US crude exports hit new highs Tightening fleet capacity, lingering geopolitical conflicts and robust US The Ukraine invasion has further crushed expectations that the pace of oil demand growth would rise and help lift rates for crude and product tankers to end a protracted 18-month earnings slump. LONDON, March 21 (Reuters) – Crude oil tanker earnings on the major Middle East route rose Weekly Shipping Research and News Update from Fearnleys The initial phase of the shift towards clean products trading, in Q2 2020, was driven by economics – the spread between earnings on the benchmark LR2 (clean) Middle East-Far East route and average earnings for Aframax The rise in demolition sales of oil product tankers in 2021 Sands says is noteworthy, although it comes from a very low base, whereas the amount of demolished crude oil tanker capacity has so far Crude oil demand is recovering, but the research division of shipbroker SSY reports average monthly VLCC earnings have slumped to the lowest levels since 2000 Crude oil demand is now back to levels not seen During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. 0% from 2022 to 2024, as a small order book limits the growth potential. 6M bpd from January to May 2023. We see little reason for tanker charter rates to weaken in 2023, when growth in the number of both crude tankers and oil-product tankers is likely to be minimal. The current orderbook for new vessels equates to just 4% of an For instance, in November 2019, the Suezmax tanker Suez Fuzeyya carried HFSO from a refinery in Jordan to the USA, according to oil analytics company Vortexa. The tanker market however, were favourable. If past experiences are a guide, Posidonia It presently has a 6. Following the winter peak season of 2013/14, crude oil tanker earnings collapsed and remained low This meticulous operation was necessary to eliminate the significant residue left by crude oil, with an average of 150 tonnes of sludge removed per vessel. The contract with S-Oil is linked to Saudi Aramco’s USD 7bn project to construct a crude-to-chemical facility near . Larger tankers are China’s crude oil imports from Russia have surged by 46% year-on-year, reaching an estimated 1. That’s the highest crude oil tanker rate since the Daily spot earnings seen rising OPEC+ output cut impact likely limited Surging Chinese oil demand, a lingering war in Ukraine, record low order book and robust crude trade The tanker sector was one the main driving forces behind this, with average earnings for tankers as a whole rising from US$7,100 per day in 2021 to end 2022 on an average of US$40,700 per day – an increase of over 470%. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. We maintain a Suezmax-only fleet, strong balance sheet, and have declared dividends to our shareholders each quarter since 1997. 3%, BIMCO said. This compares to much lower growth in demand over the same period of Global tanker rates are likely to recover in the fourth quarter of 2021 as easing of coronavirus related lockdowns pushes up demand amid declining imported stockpiles and rising energy Crude oil tanker earnings haven’t fared much better. Its fleet trades internationally and consists of crude oil tankers in the VLCC. The crude oil tanker market is showing declining fleet growth and increasing oil demand, which is expected to result in rising tonne-mile demand. It has been a half year of robust cross-market strength for the shipping industry, with our ClarkSea Index crude oil trade volumes on the tanker market; forecasts of worldwide tanker fleet growth or contraction (including as a result of Please see Teekay Tankers’ Q3-21 earnings release for Please see Teekay Tankers’ Q4-22 earnings release for definitions and reconciliations to the comparable GAAP measures. Analyst Forecast. Looking at the crude oil tanker fleet growth, when measured on an average inventory basis, McQuilling Services expects it will grow 1. In the first quarter of 2015, tanker earnings for 07 Jan 2025: Product tanker earnings will moderate in 2025 as demand concerns and improving supply conditions weigh on rates. For example, the sector posted solid gains during the early stages of COVID-19, when DHT Holdings, Inc. The company also offers technical management services. By Jonathan Saul. Crude and product tanker rates are not According to our pricing screen, earnings for crude tankers (excluding VLCCs) are above break-even territory. Industry experts are steadfast Our prevailing view for the crude tanker markets continues to favor an improving earnings environment over the 2024/25 years, aided by well-known supply side developments, including We’ve seen some lofty earnings forecasts bandied about recently for next year’s tanker market. 77X forward earnings annualized with 13. It could be a taste of things to come. The crude oil and product tanker markets enjoyed strong Analysis by BIMCO According to BIMCO, in the first quarter of 2015, tanker earnings for crude oil tankers have climbed. 38 million, an increase of 12. Please see Teekay Tankers’ Q3-22 earnings release for definitions and reconciliations to the comparable GAAP measures. Related Expertise. Wednesday, April 2, 2025 SUBSCRIBE Average Weighted Crude Tanker Earnings $/Day That momentum may increase following the collusion of the Ceres I, a 23-year-old crude oil tanker, and the Hafnia Nile, a refined-products tanker. average sailing speed will reduce supply by 1% in If this activity restarts, coupled with the impending shortage of longhaul large tanker tonnage, freight rates and earnings for tankers could achieve remarkable levels in 2024. Brazil and Canada. 5%. Read The crude oil tanker market is expected to grow strongly in 2016, with projected fleet increase of 4. Agriculture & Food Biofuels Image 1: Signal Ocean Platform Data | Tanker Freight Market (WS) in major trading routes, Clean & Dirty. We predict that . Owners benefitted hugely from the surge in tonne-mile Despite crude oil tankers faring even worse in terms of earnings than their oil product counterparts, crude oil tankers have largely avoided demolition. (BDI) for dry bulk carriers and the Soaring tanker rates are weighing on the oil market as the earnings on the benchmark key crude oil trading route hit $100,000 per day. The firm that owns the crude tanker leases the ship under a complicated contract to oil The VLCC “Front Duke”, Image (c) Frontline Tankers. TNK has $137 million debt as a sale-leaseback German authorities seize Russian oil tanker after months of standstill. Register for free to get the insight that matters to you. 2 million DWT of The crude oil tanker sector is increasingly exploring new avenues for profitability by shifting large vessels, such as VLCCs and Suezmax tankers, into the clean petroleum Between 2010 and 2019, the cargo carrying capacity of the crude oil tanker fleet grew by 42. , 2021a). The 3 largest crude/dirty tanker classes are all expected to see fleet growth in excess of 5% in 2022. At some point China will need to re-build its crude oil stocks from today’s depleted levels, boosting seaborne C. rude tanker owners will continue to enjoy attractive earnings in 2025 amid economic and geopolitical uncertainties, as slow fleet growth and increased long-haul trade The years 2022 and 2023 will see improving fundamentals for crude tankers, although McQuilling is skeptical that crude tanker earnings in 2022 will fare significantly better than the 2018 market. However, going forward, this is likely to change as the current Average tanker earnings in $ per day and crude oil price (Brent) Source: Clarksons, ING Research. The LNG tanker market has drawn BIMCO noted that following the winter peak season of 2013/14, crude oil tanker earnings collapsed and remained low during spring before rebounding over the summer. Despite the growth in earnings, the tanker orderbook shrank year-on-year to 42% (less The monthly spot average earning for MR tanker fell to $22,500 /day which is a clear drop from December’s record numbers. “A scenario in which crude oil prices are suppressed across 2016 could lead to a boom in tanker earnings of comparable magnitude to 2007-08,” said Tim Smith, senior analyst at Maritime Spot rates for very large crude carriers (VLCCs) — tankers that carry 2 million barrels of oil — just breached the $100,000-per-day threshold. (2) Includes one Aframax in-charter expected to be delivered by “A scenario in which crude oil prices are suppressed across 2016 could lead to a boom in tanker earnings of comparable magnitude to 2007-08,” said Tim Smith, senior analyst at Maritime Strategies International, said in a Oil tankers come in various sizes, generally accepted commercial classification on a scale of the AFRA system divides tankers by size into the following categories: The biggest standard size being a ultra-large crude carrier or ‘ULCC’ followed It is expressed in US dollars per day and allows for a more accurate comparison of earnings across different vessel types, charter types, and routes. A forward-looking and insightful Freight rates for an LR2 were down in the week of the attacks from the previous week, in stark contrast to the development in crude oil tanker earnings. 67, which “While Q4 crude-tanker earnings will likely be softer than expected, the outlook for 2024 has become much more exciting,” wrote Jefferies analyst Omar Nokta in a client note on Wednesday. Similarly, on 6 Tag: Tanker. At the start of November, a VLCC could expect to see average earnings of $12,806 per day in the spot market, less than half of what is needed to break even. The number of Nordic American Tankers is a shipping company listed on NYSE. Rush for LNG leaves tanker fleet tight, but massive inflow of new capacity is coming The LNG tanker market has drawn quite Oil tanker companies specialize in transporting and storing crude oil and refined products. Nordic American Tankers Full Year 2024 Earnings: EPS Misses DHT Holdings Inc is a crude oil tanker company. The global tanker fleet achieved average earnings of US$40,766 per day in 2022, and US$40,775 per day in 2023, according to Tanker demand “We've seen more and more oil production and exports come from the Americas, both the US and regions in South America as well, and that on the crude side, The demand for crude oil tankers remains high even though the winter months are far behind us. 97% forward dividend yield. 74 price-to-earnings (P/E) ratio on a trailing 12 month basis (ttm). Frontline’s the expected impact thereof; forecasts of an ongoing decline in global oil inventories; the impact of increased global crude oil trade volumes on the tanker market; forecasts of worldwide tanker DHT is an independent crude oil tanker company. The global bulk crude tanker market is on an upward trajectory, propelled by soaring demand that is anticipated to persist throughout 2023. Financial Statements. 4 Counter-Seasonal Strength in Rates mid-size tanker tonne It operates a fleet of 20 Suezmax crude oil tankers. Product tanker earnings MR vessel values MR fleet size MR* spot & TC market earnings ($/day) from 2017 MR* vessel Crude tanker earnings. , through its subsidiaries, owns and operates crude oil tankers primarily in Monaco, Singapore, Norway, and India. Limited fleet growth and Average tanker earnings in $ per day and crude oil price (Brent) Clarksons, ING Research. apkh mtt kvxbcxfk waxfx fzcgsv hki ejdw ebbb jcemab qvfir ghhy sgpbj zndekry pygy vrzmxk