At the start of August, McQuilling Services published our 2012 Tanker Market Outlook Mid-Year Update. This report gauges tanker market activity during the first half of 2012 and provides an outlook for the second half of the year and the forecast period. Despite bearish sentiment encompassing the global economy and shipping market at the end of 2011, the 1H of 2012 appeared to support the theory that the worst the current downturn had been consigned to history. A combination of factors that included tanker pools, robust demand from the east and loading delays helped tighten the market.
In our last Industry Note, we discussed the progression of China’s methanol demand throughout the past decade and its future prospects. In this Industry Note, we will describe the challenges of coal based methanol production and our latest projections on China’s import potential by 2015.