首页 News 正文

A new round of conflict erupts in the Red Sea. The oil transportation market is under pressure, and short-term freight rates remain high

Ronan62054
1332 0 0

The tense situation in the Red Sea region, which has lasted for over three months, shows no signs of ending. Under the ongoing conflict, the global oil transportation market has become increasingly tense, and the freight rates of large oil tankers have continued to rise recently.
According to reports, on February 24th local time, the United States and the United Kingdom launched a new round of attacks on more than ten targets in the areas controlled by the Yemeni armed forces. Subsequently, the armed forces of Houser also attacked the American oil tanker "Tolmtor" and multiple ships.
Under the ongoing conflict, the global oil transportation market has been fluctuating upwards since February. This week, the freight cost of a VLCC (Very Large Crude Oil Carrier) transporting oil from the Middle East to China reached a three-month high.
In addition, some industry organizations have reported that the Middle East market has been on the rise recently, with more cargo orders in late February, leading to an increase in freight rates. At the same time, the transportation capacity in the US Gulf market is tight, and short-term freight rates have also significantly increased.
According to data, the Suez Canal - Red Sea is one of the busiest shipping routes in the world. Under normal circumstances, about 13% of global maritime trade and 10% of maritime oil transportation pass through the Suez Canal.
Unlike the overall oversupply situation in the container shipping market, the current global oil tanker transportation market is characterized by tight supply and demand. According to data, the delivery volume of large crude oil transport ships will reach the lowest level in nearly 40 years in 2024.
Shipping agency Clarkson predicts that the total demand for crude oil tanker capacity in 2024 will be approximately 350 million deadweight tons, a year-on-year increase of 3.5%, but the total supply of capacity will only increase by 0.2%. The total capacity growth of the container shipping industry is around 8%.
On the other hand, amidst the global shortage of oil tankers, fleet efficiency has also declined due to the impact of the Red Sea conflict.
According to a report from the transportation team of Zhejiang Securities on February 19th, as of February 15th, the overall traffic volume of oil tankers in the Red Sea region has decreased by 51% compared to early December last year in terms of detours.
Guo Xin Securities analysts Luo Dan and Gao Sheng also stated in their report on February 19th that the Red Sea incident, the Russian oil ban, and global economic recovery will all bring about an increase in industry demand, while the aging of supply side ships and the lack of new orders will ensure the upward elasticity of freight rates. It is expected that the upward elasticity and center of freight rates are expected to continue to move upwards.
In history, the last time crude oil transportation prices skyrocketed occurred in 2019, also influenced by geopolitical factors in the Middle East. The daily rates of ultra large oil tankers rose from $25000 to over $150000 within six months.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
您需要登录后才可以回帖 登录 | 立即注册

本版积分规则

  •   知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
    caffycat
    3 小时前
    支持
    反对
    回复
    收藏
  •   每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
    star8699
    前天 19:48
    支持
    反对
    回复
    收藏
  •   上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
    goodfriendboy
    前天 20:09
    支持
    反对
    回复
    收藏
  •   百度创始人李彦宏19日在2024中国5G+工业互联网大会上发表演讲时表示,多智能体协作应用无代码工具"秒哒"发布不到3天,超过5000家企业排队申请测试。此外,L4级端到端的自动驾驶大模型发布后,搭载百度这一大模 ...
    laozhucn
    3 天前
    支持
    反对
    回复
    收藏
Ronan62054 新手上路
  • 粉丝

    0

  • 关注

    0

  • 主题

    1