The Big Picture
MR freight outlook
At the height of COVID in late 2020, building a new MR at a Korean yard would cost around $32m. Today it is $46m. A modern second-hand unit could be bought for around $26m.
Today it is $42m. Chartering a modern MR for one year would have cost $14.5k/day. Today, $29k/day. Even the three-year rate has risen from $16k/day to $24.5k/day over the period.
MR freight outlook
A peak beyond Russia’s war
May 29
Tanker earnings
Rough month
April 24
Tanker fundamentals
Can freight stay strong?
March 26
Tanker demand drivers
The next 6 months
March 06
Specialised Tankers
Does size matter?
February 17
Unplanned shutdowns and maintenance woes of Japanese refineries result in 1m b/d going offline
June 08
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Saudi Arabia pledges a new voluntary cut of 1m b/d for July
June 08
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Venezuela’s crude export dropped in May
June 08
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Top shipper of Russian oil secures Indian cover as Western certifiers exit
June 08
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Suezmaxes increase their share of tonne miles for Guyanese crude trade
June 08
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Full recovery of Chinese aviation limited by capacity and policy constraints, says International Air Transport Association (Iata)
June 08
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Nearly a quarter of Venezuelan crude exports head to the US
June 01
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Russia not expecting its oil output to change ahead of OPEC+ meeting
June 01
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Saudi Arabia imports Russian diesel/gasoil and exports their own to Europe
June 01
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Refinery and pipeline updates
June 01
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