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Shipping industry-II: Where is the tanker market going in 2018?
Feb 14: How exactly is the tanker market going to behave in 2018?
8Growth is reportedly decelerating and it is going to be a weak year for all dirty tanker classes with VLCCs averaging around US $21,700/day and Suezmaxes averaging US $12,100/day.
8The story however is quite different on the clean side of the market as supply fundamentals improve with growing demand.
8Spot market earnings in the LR2 and LR1 sectors are projected to average around US $14,600/day and US $13,100 in 2018, respectively. MR earnings on a round-trip basis are, in general, expected to rise in 2018 with TC2 TCEs averaging US $8,800/day
8The 2018 price forecast for the 5-year old crude tanker sectors sees VLCC values averaging US $62.6 million, a 3.5% increase from the 2017 average price of US $60.5 million.
8Modern Suezmax tankers are projected to demand US $41.2 million in 2018; however, by 2022 the values of these tankers can reach US $51.2 million amid a pickup in earnings.
8Clean tankers of this age group (5-year) are expected to see higher prices relative to their 2017 averages. For the LR2 space, we forecast a 2018 average price of US $37.1 million, a 5.0% increase from the average price recorded in 2017, while the LR1 sector is expected to see gains of 11% year-on-year to average US $31.2 million. The MR2 tanker is likely to appreciate 15% to US $27.1 million.
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