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Oil Shipping Market Probably Fall into A Slump in The Second Half of 2016 Browse times£º[ 321 ]
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DNB shipping agency analysts said that the biggest factor of maintaining oil market balance is new ship delivery. New ship deliveries is expected to reach 17.1 million ton capacity in 2016, Compared with the first half of the year 980 million tons, new ships orders appear dramatically increasing. Analysts had expected that the tanker market capacity will increase by 5% annually, but with the sharp increasing of the second half, market capacity growth 2700 million tons, which will increase by 7.7% of the existing fleet scope.
Analysts pointed out that potential growth of current shipbuilding capacity remains to be seen, Although the owner is still considered that lease market price will continue to grow along with oil spot market freight rate rise, however, if the oil price rises, the rising rate of lease market price may will be slow. For the crude oil shipping market, there are still risks that OPEC countries to reduce production to maintain their oil prices. The unstable factors of oil shipping market are OPEC production besides Chinese market declined demand.
However, take the positive side into consideration, Because of the land storage facilities are saturated, Future floating oil storage will continue to maintain tanker freight rate stability, and could significantly enhance the VLCC spot price and rent rent and may significantly enhance the VLCC spot rent. At the same time, floating oil storage trade will also reduce the negative impact for the tanker capacity growth on the market in 2016.
