Project Description
Oil Tankers have made a remarkable comeback in the later half of 2022. Looking at the September YOY growth we see oil is 4% stronger and clean product tankers are 15% higher. From low point in June crude oil imports to China has been gradually bouncing back and gaining momentum. This has helped push utilisation to nearly 90% since August.
LNG remains on max but it’s interesting to see that Europe are now importing way more than Asia however with a mild start to winter in Europe we expect demand to taper off.
Chemical tankers have made a growth comeback similar to product tankers. Paraxylene/Xylene has been doing particularly well.
Despite the conflict in Ukraine, net effect for vegetable oils appears to even. Palm Oil exports are expected to be much stronger over the next few months.