Tankers:

Charting a course through the downturn

What are the prospects for the tanker market in 2010 and beyond? World oil consumption is forecast to resume growth in 2010 following a weak performance in 2008 and 2009.  On the supply side a heavy delivery schedule of new ships coupled with a low rate of scrapping old ones has forced rates down. 

So will the MARPOL deadline of end 2010 for the demolition of single hull vessels, coupled with stronger economic activity, bring rates back?  Some commentators are predicting that a combination of factors, including slow steaming, the use of tankers for floating storage and port delays may reduce the effective fleet significantly.

If financing difficulties cause slippage in the 2010 delivery schedule from the yards, could the supply/demand balance in the tanker fleet be restored sooner than previously expected?

The popular Seatrade Tanker Industry Conference, held on two previous occasions in London, moves to Asia for the first time and will be held during the Singapore Maritime Week on April 28. With sessions looking at the commercial and operational environment for tanker transport at a time of unprecedented uncertainty, this short interactive programme will be aimed at the full spectrum of the tanker community from owners and charterers to the banks, builders and brokers.

For details, visit http://www.seatradeasia-online.com/stic/