Project Description
Crude oil prices have remained around the $75 range since December. As you would expect demand has remained fairly flat overall however there is still a noticeable increase of 7-8% in demand compared to last year and expectation that things will tighten over the coming year as the Chinese economy continues to grow and supply remains tight.
LNG trade continues to remain strong. Over the winter Asia brought much more than Europe but as the winter draws to an end volumes are starting to decline. The only current weakness is Chemical tankers. The data is showing lower volumes of Ethanol and Methanol compared to this time last year. This quarter compared to the last is showing an overall 5% decline in volumes.