McQuilling Services Tanker Market Outlook 2022-2026

Jan. 28, 2022

McQuilling Services is pleased to announce the release of its 25th anniversary edition, 2022-2026 Tanker Market Outlook.  This 165-page report provides a detailed analysis of oil fundamentals, global economic and geopolitical context in addition to tanker demand and supply projections across eight vessel classes. The interaction of tanker demand and vessel supply variables is processed using advanced quantitative modeling to produce a five-year spot and time charter equivalent (TCE) forecast for eight vessel classes across 24 benchmark tanker trades, plus four triangulated trades.  Also included in the report is a five-year asset price outlook as well as one and three-year-time ...

Refinery Runs: A High-Level Overview

Jan. 21, 2022

In 2021, total crude oil intake at the refinery level averaged 77.9 million b/d. some 3.1 million b/d higher than 2020 (Figure 1).  This was the result of a world with less mobility restrictions, especially as vaccination programs became more widespread and efficient and healthcare systems increased their experience in managing infections.  While this was a strong recovery figure, total intake did not reach pre-pandemic levels as many had predicted at the beginning of the year.  Some of the reasons for that were the emergence of new virus variants (primarily Delta) that spread rapidly and forced ...

Is a Crude Tanker Recovery on the Horizon?

Jan. 14, 2022

As revisions on global crude balances become available, we like to dive into the data to attempt to extract insight as it relates to the tanker markets.  With a new year beginning, we are still in a very volatile environment, with a pandemic that lingers and new variants like Omicron once again generating more questions than answers for the global economy.  On top of that, inflationary pressures, high energy prices and supply chain bottlenecks, all add to the uncertainty surrounding economic recovery in general and the tanker markets more specifically. 

The latest data from JBC Energy reveal that the global ...