Crude Tanker

摘要

1. We expect freight rates in the crude tanker market to be firm in 4Q19as a seasonal uptick in demand, positive impact of IMO 2020 onglobal refinery runs, a surge in long-haul exports from the US andslow fleet growth will lead to a rise in vessel utilisation in the market.2. Meanwhile, seasonal recovery in freight rates in the crude tankermarket started early in 2019 as rates went up counter-seasonallyduring the autumn refinery maintenance season. The supply shockdue to US sanctions on Cosco Shipping Energy Transportation’s(CSET) subsidiaries and a rise in chartering activity after the droneattack on Saudi oil facilities underpinned rates ahead of the seasonaluptick in demand.