Phase 1 Trade Agreement Implications
Since the signing of the “Phase 1” trade deal between the US and China, the latter has been gradually removing tariff barriers on imports of products and services included in the deal. In the latest announcement from the country earlier last week, China said it is ready to accept applications for tariff exemptions for close to 700 products originating from the US. Liquified natural gas and crude oil were mentioned among those products. This is seen by some as a sign that China is intending to make good on their Phase 1 promise to buy close to US $200 billion worth of US products and services within the next two years, including US $52.4 billion in additional energy purchases from a baseline of US $9.1 billion in 2017. Should China execute the agreement, is it logical to expect VLCC ton-mile demand to increase. However, there are uncertainties throughout the entire process.
2020 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.
Tanker Market Outlook
- Global Outlook Themes
- Tanker Tonnage Demand/Supply
- Tanker Market Technicals
- Previous Freight Market Performance
- Freight Rate and Earnings Outlook
- Time Charter Rate Forecast
- Crude and Bunker Price Development
- Asset Market & Investment Projects
- Analytical Appendix
- Over 200 Figures/Tables