14 May, 2020
The Middle East branch conducted a webinar on Tanker Market Outlook on 2nd May 2020.
Once again, the event proved popular among participants from across the globe. 369 participants from 31 countries registered for the event.
Mr. Mr. Andrew Finn, Partner in Affinity (Shipping) LLP UK, gave a detailed presentation on how the crude and product tanker markets behaved in the recent past. He discussed the demand for storage and its resultant impact in tanker market. The extremely low crude prices has led to very high demand for tankers as storage units taking charter hires to unprecedented levels. The depth of Andrew’s data analysis was spellbinding.
Mr. Ben Ognibene, Founder CEO of Concord Maritime USA, presented the tanker market outlook from an owner’s perspective. Ben graphically explained the volatility of the tanker market due to conflicts, regulations and mother nature. His analysis on the role of OPEC in the supply of oil and its impact on tanker trade was interesting.
The webinar was hosted by Mr. Krishnan Subramaniam, President of the ICS Middle East Branch, a veteran in the tanker trade.…