Shipping broker Gibson released their 2024 mid-year review of the conventional tanker market.
It covers the major developments - OPEC cutbacks, vessel re-routing around Cape of Good Hope, impacts of both Canadian TMX pipeline and the start-up of Nigeria’s Dangote refinery, etc.
Q3 is traditionally the crude tanker segment’s weakest quarter in the annual cycle (refinery maintenance, weather). But plenty of additional tweaks could make things interesting e.g. Crude tankers “cleaned up” for use in the refinery products trades. Or Guyana, as a developing oil exporter.
Long haul trades make the product tanker market also interesting. Perhaps, for Q3 2024, even more interesting. I mean, if one has to send a product tanker all the way around Africa to supply Europe with certain fuels, that will keep the logistical side tight (even with reduced volumes)
–
Separate from the broker’s review - For trading tanker stocks in the US markets, a few more options
Okeanis Eco Tankers (ECO) - owner of crude tankers
Hafnia Tanker (HAFN) - owner of clean tankers and owner/manager of clean tanker pools
BW LPG (BWLP) - owner of LPG tankers, and involved in LPG cargo trades