Tanker Market Dynamics - Geopolitics, Decarbonization, Seasonality
20 September 2023 9:00 AM – 10:00 AM CDT
An S&P Global Commodity Insights joint webinar with BIMCO
Tanker rates have ranged well outside of seasonal patterns, historical averages and volatility norms ever since the start of the Russia-Ukraine conflict in February 2022. Sanctions on Russian hydrocarbon exports prompted 90% of Russian crude to be transported on long-haul voyages to China and India instead of Europe, forcing Europe to replace these barrels from markets further afield than the Baltic Sea.
Clean tanker rates experienced unprecedented volatility amid dislocations as Europe has sought alternative supply for 1.5 million b/d of Russian refined products from long-distance markets such as the US, the Middle East and India. A historically low order book fueled by uncertainty around low-emission propulsion has added fuel to the fire. But for how long will the bullish cocktail continue?
Join us in this BIMCO/Platts of S&P Global Commodity Insights webinar where shipping analysts from across both sides of the Atlantic discuss the current state of the tanker market and drivers as well as attempt a baseline outlook for the rest of the year and beyond on topics, including:
- What are the impacts of trade flow changes on tanker market dynamics?
- Is China’s demand recovery on track?
- When can we expect seasonality to return to the tanker markets?
- How significant is Russia’s investment in non-G7 shipping capacity to sell oil outside of the price cap?
- How does global decarbonization impact tanker demand?
- Which factors lead to further tightening and dislocation of tonnage avails?
We will close with a panel discussion between BIMCO/Platts analysts and an interactive Q&A with the audience.
Please contact [email protected] for any inquiries.
WEBINAR STARTS IN
Speakers
NIELS RASMUSSEN
Chief Shipping Analyst, BIMCO
Niels Rasmussen joined BIMCO in 2022 as Chief Shipping Analyst. Joining Maersk as a trainee at 19, he spent 24 years with the container giant before moving to the shipbroking industry. There he headed up the market research team at a major shipbroking company. At BIMCO, Niels focuses on explaining and predicting supply and demand developments in the major shipping markets.
BARBARA TRONER
Senior Managing Editor – Americas Freight Markets, S&P Global Commodity Insights
Barbara Troner manages the Americas shipping team at Platts, which is part of S&P Global Commodity Insights, covering the container and tanker shipping markets in the Americas, including freight rates, analysis and news. She rejoined Platts in Houston in November 2015 after she had worked for the company first in London in the late 1980s and later in Singapore from 1993-1995, reporting on naphtha, fuel oil, and bunker spot prices and markets. From 1995-2015, she directed statistical research on East of Suez refining capacities, petroleum product balances, specifications, and pricing analysis at Asia Pacific Energy Consulting. Barbara also has experience in the coordination of commercial and marketing projects in the petroleum storage industry at Oiltanking.
FOTIOS KATSOULAS
Liquid Bulk Sr. Principal Analyst, S&P Global Commodity Insights
Fotios Katsoulas is a liquid bulk sr. principal analyst for the Shipping Analytics & Research team at FCRS for S&P Global CI. Fotios focuses on the oil tanker freight markets, seaborne trade flows of crude oil and clean petroleum products and their impacts on the shipping cycles and investors' decisions, drawing from his experience in commercial shipping and energy sectors.
Previously, he gained experience in using the latest technology to provide better insights more quickly and more frequently to the shipping industry and to associated finance and insurance providers. As head of research for Affinity Shipping LLP and as shipping analyst for Maritime Strategies International Ltd., he managed big shipping data, developed shipping cycle econometric models, and assisted with advisory projects and valuations for major international shipping banks and financial providers. Fotios regularly attends international shipping industry conferences and has professional experience in operational research and corporate presentations. Sectors covered include crude oil and oil product tankers, LNG and LPG carriers, MODU and OSV.
He holds a Master of Science in shipping, trade and finance from Bayes (former Cass) Business School, City University of London, United Kingdom, an LLB from Queen Mary University of London and a BSc in Business Administration from Athens University of Economics and Business.
Previously, he gained experience in using the latest technology to provide better insights more quickly and more frequently to the shipping industry and to associated finance and insurance providers. As head of research for Affinity Shipping LLP and as shipping analyst for Maritime Strategies International Ltd., he managed big shipping data, developed shipping cycle econometric models, and assisted with advisory projects and valuations for major international shipping banks and financial providers. Fotios regularly attends international shipping industry conferences and has professional experience in operational research and corporate presentations. Sectors covered include crude oil and oil product tankers, LNG and LPG carriers, MODU and OSV.
He holds a Master of Science in shipping, trade and finance from Bayes (former Cass) Business School, City University of London, United Kingdom, an LLB from Queen Mary University of London and a BSc in Business Administration from Athens University of Economics and Business.