Shipping — Marts 2020
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Russia can weather oil prices of $25-30 for 6-10 years - ministry
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Cleaves rapport: "LPG Carriers: VLGC spot rates are holding up well, but the rout in energy prices amidst our negative demand growth forecast for 2021E is not supportive to share prices, down 26% w/w. Still, we think shares are cheap at EV/EBITDA of 3.3x & 27% dividend yield in 2020E"
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Oil Tankers: It is all about the OPEC+ failure over the weekend, and the subsequent 30% rout in the crude oil prices at the time of writing. Increased supply of oil could have positive near-term impact on tanker earnings from transportation and storage economics, but negative medium-term implications as lower energy prices leads to less E&P in the US which a very tonne-mile intensive trade. There is strong correlation (R²=0.93) between the WTI and US rig count with a 16-week lag". -
Læs rapporten her: https://www.cleaves.no/post/shipping-weekly-10-2020
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What crude price collapse means to ocean shipping: https://www.freightwaves.com/news/what-crude-price-collapse-means-to-ocean-shipping
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"The current contango structure is said to suggest oil firms would be willing to pay $30,000 per day for VLCC floating storage that lasts 60 to 90 days — but shipowners are expecting further gains."https://www.tradewindsnews.com/tankers/oil-price-war-boosts-tanker-rates-and-share-prices/2-1-769985
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"The rout has raised the prospect of traders keeping oil at sea for later sale at a profit. In the height of the 2008-09 recession, oil companies, traders and financial institutions kept more than 100 million barrels on tankers, some betting on a rebound, others simply locking in a contango, where month-on-month price oil-price gaps far exceeded the cost of hiring vessels".https://gcaptain.com/wanted-tankers-to-store-oil-as-price-war-augurs-glut/?utm_campaign=twitter&utm_medium=twitter&utm_sourc
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