2019 Tanker Market Outlook Scorecard
McQuilling Services provides a summary of key market indicators reflecting past performance and future expectations in an easy to read scorecard format. This document displays a snapshot view of what to expect over the next year in comparison to previous market performance.
2019-2023 Tanker Market Outlook
- Global Outlook Themes
- Tanker Market Fundamentals
- Tanker Market Technicals
- Previous Freight Market Performance
- Freight Rate and Earnings Outlook
- Time Charter Rate Forecast
- Future Asset Prices
- Regulatory Outlook
- Analytical Appendix
- Over 200 Figures/Tables
VLCC Utilization Up in November
In November, VLCC utilization increased to the highest level observed since the beginning of the year at 60.55%, nearly as high as the level observed in November 2017 (60.58%). Through the first 11 months of the year utilization has averaged 59.99%, compared to 61.95% in the same months of 2017. Although both ton-day demand and ton-day supply decreased month-on-month, the pace of declines in the latter was greater than the former, placing upward support for utilization. Over the next month period, we expect utilization to fall as demand tempers on the back of lower import requirements in Asia, while vessels continue to be delivered to the fleet amid low incentives to scrap tonnage.