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Media Mentions
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Fairplay: Increases in Underlying Demand are Expected to Benefit Rates
August 26, 2010 |
| "In this normally sluggish time of the year, the range-bound nature of the main tanker routes has been evident from the disappointments on the widely tracked TD3 (VLCC cargo, Gulf to Japan), where Baltic Exchange panellist quotes have pegged the route as just above W53 (equating to between $14,000/day and $15,000/day, depending on assumptions). In the near term, the closely watched Gulf has seen a build-up of vessels . . . . Analysts at Poten have looked at the impacts of the ongoing restrictions on offshore oil production in the Gulf of Mexico. After noting that increased demand is expected in the US during 2010 (140,000bpd) and 2011 (170,000bpd), they say that 'the fact that reductions in domestic crude oil output growth are expected to occur alongside a strengthening in US demand means that they will likely lead to an increase in imports.'” |
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Platts: Tanker Market Takes Heart From Brazil's Rising Crude Exports
August 16, 2010 |
"Brazil's rise as a crude oil exporter is helping the tanker industry as it turns into a significant source for future ton-mile demand, ship brokers Poten & Partners said in a market report released over the weekend. Ton-mile growth in the tanker market, which is calculated by multiplying the number of metric tons moved by the distance traveled, helps to consume a greater portion of the global fleet by soaking up tonnage through long-haul voyages. 'Its status as a net crude oil exporter is only just starting to be reflected in reported dirty fixture volumes,' the Poten report said."
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Bunkerworld: China's Bunker Market Needs Reform
August 09, 2010 |
"China’s bunker industry needs further reform if sales in mainland ports are to reach their potential, according to an independent energy consulting and brokerage company. 'In China, until customs import product pricing restrictions are eased and bunkering companies competition appears, containership companies seem more likely to bunker at foreign ports such as Singapore,' said Poten & Partners. It has published new research - Outlook Through 2020: Chinese Growth and Implications for the Broader Tanker Market – in which it analyses growth in container traffic and growth in bunker sales."
For more information regarding this report, please visit http://www.poten.com/Publication.aspx?id=16877 |
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Fairplay: Behind the Tanker Bounce
August 02, 2010 |
"Asset play in the tanker sector has recovered from the freeze that followed from the credit crunch, according to New York’s tanker broker Poten & Partners. But rather than focusing on the secondhand market, the newbuilding sector has attracted most of the activity, Poten’s weekly report said."
"Decisions to invest appear to be driven not just be the fundamentals, it observed, because of what was termed 'a disconnect between slipping freight rates, weak demand fundamentals and the surge of newbuilding tanker orders seen in recent months'. The report added: 'Asset values are derived from the expected earning of that asset over its life, but with the tanker market sending mixed signals on the pace of recovery, other forces are ostensibly in play. 'Since March of 2010, however, the perception that there were assets to be had on the cheap has helped bring tankers back into fashion. Interestingly, it has mostly come in the form of newbuilding activity rather than secondhand purchases of existing assets.'”
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Oil & Gas Journal: Intertanko Forecasts Sluggish Tanker Market
August 02, 2010 |
| "Intertanko predicts a sluggish tanker market moving forward, with lackluster economic and demand forecasts combining with use of vessels for storage, vessel recycling, and deferred vessel deliveries to create uncertainty. . . . Intertanko expects the tanker fleet to expand during 2010, it cites Poten & Partners in noting a decline in spot tanker booking over the course of 2009." |
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Lloyd's List: Caution the Watchword on Trade with Iran
July 27, 2010 |
| "When it comes to doing business with Iran, the guiding principle across all areas of maritime activity at the moment is one of extreme caution. The new US sanctions enacted on July 1 explicitly targeted 'petroleum and natural gas resources' in a move that also focused sharply on the transportation chain . . . . In a detailed analysis, Poten Tanker Research stressed the need for a prudent approach to any business dealings with an Iranian angle: 'There are a number of uncertainties surrounding the new Iran sanctions and the implications for tanker demand will likely evolve in the months to come. Considering that even foreign-flagged shipping companies are likely to eventually conduct some business involving American entities, the most severe repercussions possible under the bill could be significant. In light of this reality, it is vitally important for international shipping companies to carefully monitor their operations to ensure they do not knowingly run foul of the new law.'" |
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Fairplay: BP Cap Nears Capacity
July 06, 2010 |
" S sentiment is mounting that the Obama administration’s deepwater drilling moratorium will curtail future US production and spur more tanker imports. Several drill ship owners have reportedly declared force majeure, implying potential relocation to other markets. Poten & Partners |
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Lloyd's List: Listed Companies to Push Rise in Newbuilding and Secondhand Sales
June 28, 2010 |
| "New York tanker broker and consultancy Poten & Partners has also highlighted the recent role of listed companies in the US in hiking the value of secondhand and newbuilding tanker values and establishing price floors. Tanker values have risen by 10%-15% over the last six weeks, as companies including Scorpio Tankers, General Maritime and Crude Carriers bought modern and newbuilding wet tonnage.Prices paid have reportedly been as high as 116m for a resale very large crude carrier, up from $98m six months ago. Resales as well as modern tonnage have been funded largely through follow-on offerings, rather than initial public offerings, said Poten’s Weekly Tanker Opinion. 'As asset prices edge somewhat higher, pressures on freight rates are likely to follow. Interest and obligations of public companies to constantly demonstrate growth will likely fuel more sale and purchase activity in the near term. The asset and equity markets are both driven by momentum and nothing attracts a crowd like a crowd!'” |
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Financial Times: Coal-fired power plants to be snuffed out faster than expected
June 26, 2010 |
| "US Congress may not pass a climate bill this year, but that would not mean the environmental movement has lost its fight to cut coal use. On the contrary, there will almost certainly be a far more rapid retirement of coal-fired generation plants over the next five years than the market anticipates, and very likely a much more rapid rise in natural gas prices and imports. . . .The assumption has been that the US has an unlimited supply of shale gas at the present price of about $4-$5 per million British thermal units. But it does not. The gas people I know argue that without an increase to $8 or $9 per mBtu, the real costs of shale gas cannot be covered. That leaves liquefied natural gas imports. But would that much LNG be on offer in 2015? Poten & Partners, a shipping and LNG consultancy, says an increase in demand of 5bn mcf per day could be handled with the anticipated world export capacity. That would be somewhat less than required by the probable coal shutdowns. Any demand increase above that level would require new LNG plant construction by the exporters." |
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Lloyd's List: US Crude Recovery Lifts Rates
June 23, 2010 |
| "The increasing percentage of very large crude carriers booked to ship crude from the Middle East Gulf to the US has combined with increased volumes from China to strengthen market rates. US tanker broker and energy consultancy Poten & Partners highlighted the improving demand picture in a weekly report. Increased gasoline demand, as reported by the Energy Information Administration, supported positive sentiment, the report said. 'The (VLCC) cargo count for June has reached 106, the highest since December 2008, suggesting that more oil is indeed flowing into the system,' said Poten’s Weekly Tanker Opinion." |
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