This page contain information copyrighted by other individuals and entities. Copyrighted material displayed in this page is done so for archival purposes only and is not intended to infringe upon the ownership rights of the original owners.
Fearnleys A/S - Astrup Fearnley (ID: 5575)
Page 1 of 6 Next Page [Back to companies list]
Fearnbulk is the dry cargo broking division of Fearnleys A/S. With a staff of 22, including 17 brokers, we handle world wide chartering of dry bulk cargoes and ships from 15/20,000 tdw upto 200/250,000 tdw as well as specialized movements for ro-ro, vehicle and container carriers. Our gallery of brokers ranges from the young and eager to the mature and experienced, and all are available 24 hours a day to take care of any requirements or problems with which our clients may be faced. The diversity of age and experience within Fearnbulk ensures that, as a team, Fearnbulk is in an ideal position to satisfy its clients' needs. Our customers include some of the largest cargo and tonnage owners in the world, for whom we act as brokers and advisors. We assist them in covering single market positions as well as long-term requirements, and in planning forward strategy. In collaboration with other divisions in the Astrup Fearnley Group (Sale and Purchase, Finance, Fonds and Research/Consultants) Fearnbulk is in a unique position to cover every facet of the dry cargo market. Fearnbulk's activities Chartering Contract of Affreightment Present freight opportunities Biffex reporting broker/panelist Market update financing alternatives Project Management Joint Ventures Tailor made projects Vehicle movements Ro/Ro Shipments Project development Market Analysis Vessel Evaluation < Sitemap Overview Astrup Fearnley AS web +external webs External webs are marked with Homepage - Main page History - History + Contact info Astrup Fearnley AS Sitemap - this page FearnleysAS - Fearnleys main page About - About Fearnleys, contact info Fearnbulk - main page Cape - Cape department Handy - Handy department Panamax - Panamax department Roro - Roro department Contactus - contact info (all departments) Marketinfo - Market info from Fearnbulk Fearngas - main page Contactus - Contact us + Employees w/ CV Marketinfo - Market info from Fearngas Fearnresearch - main page Publications - main page publications / subscriptions Publications - more information Pressreleases - press releases + archive FranklySpeaking - Frankly Speaking + archive Contactus - c ontact info Orderform (e-mail) - Order publications / subscriptions WeeklyReport (PDF) - Download Weekly Report as PDF FreeSample; Oil & Tanker Market - Register to Download as PDF FearnleyConsultants - main page + Contact info Fearnsale - main page Contactus - contact us (both departments) Secondhand - Secondhand department Marketinfo - Market info from Secondhand department Newbuilding - Newbuilding department Marketinfo - Market info from Newbuilding department Fearntank - main page Contactus - Contact information Marketinfo - Market info from Fearntank OfficesAbroad - Fearnleys' Offices Abroad main page FearnleysKorea Ltd - main page / contact info Fearnleys(Thailand) Ltd - main page / contact info PTFearnleys Indonesia - main page / contact info FearnGas(Singapore) PTE Ltd - main page / contact info FearnleysVenezuela - main page / contact info NOR-FREIGHT(Poland) - main page / contact info RodskogShipbrokers Hong Kong FearnleyFonds homepage FearnleyFinans A/S - main page (English) FearnleyFinans A/S - main page (Norwegian) FearnleyFutures A/S - main page Contact us - contact info FearnleyOffshore A/S - Fearnley Offshore RigSection - main page Supply-and Special Ships Section - main page FearnleyEnergy A/S - Fearnley Energy main page Contactus - contact information TheAstrup Fearnley Museum of Modern Art Astrup Fearnley Home Page Fearnbulk | Fearngas | Fearntank | Fearnsale - Sale & purchase | Fearnsale - Newbuilding/Contracting | Conditions of use Dinamo 3D History Contact us -Astrup Fearnley A/S Office: Grev Wedels plass 9 Mailing address: P.O. Box 1158 Sentrum N-0107 Oslo, Norway Telephone: +47 22 93 60 00 Telefax: +47 22 93 60 10 Go to FEARNLEY OFFSHORE all supply/support and subsea construction related units > Go to FEARNLEY OFFSHORE SUPPLY Offshore - supply FEARNLEY OFFSHORE SUPPLY AS PROVIDES SERVICES FOR THE FOLLOWING TYPE OF UNITS: Anchor-handling Tug/Supply Vessels Platform Supply Vessels ROV Support Vessels Fibre Optic & Power Cable Installation/Support Vessels Diving Support Vessels Construction Vessels Pipe Laying/Support Vessels Research Vessels Standby Vessels Tugs Barges We offer our clients a wide range of services focusing on the following; EMPLOYMENT/CHARTERING Our Chartering team works very closely with Owners and Charterers, endeavoringto securethe optimal vessel to meet the Charterers' requirement. The workscope includes spot- and long term as well as bareboat charters of all types of offshore support vessels. We possess a detailed andcomprehensive know-how and expertise adding value to our customers chartering requirements. SALE & PURCHASE One of our core activities is intermediating sale and purchase of offshore support - and special ships between Sellers and Buyers. We keep track of sales concluded including prices obtained and also have detailed listings of vessels for sale. We have concluded numerous sale transactions and have a comprehensive list of clients world-wide. To service shipowners, banks and financial institutions we also provide vessel valuations and possess detailed historical data on fluctuations in values of vessels. NEWBUILDING CONTRACTS Having concluded a large number of newbuilding contracts, both in Norway and internationally, we have a close dialogue with shipyards and shipowners world-wide. We assist in all phases of the newbuilding process, i.e. pre-qualification of yards, market evaluations, bid invitation, short listing of yards, active involvement in the negotiations, contract and post contractual work. Being up-to-date with upcoming needs and requirements, we also provide valuable technical input in the development of new vessel designs and solutions. We possess comprehensive information about ship designs, yard prices, delivery positions etc, which is of great importance to any client who wishes to evaluate and/or proceed with a potential newbuilding programme. MARKET REPORTS We provide updated market survey and forecasts to our clients as we are in continuous dialogue with contractors and oil companies contributing to new projects and concepts. We publish a daily"North Sea Vessel Availability and Spot Fixtures List", on a frequent basis the"Fearnley Barge Position Report" and the "Fearnley Offshore Supply MarketReport". In addition we tailor-make reports and presentations focusing on special market segments. Fearnley Energy A/S Libra Fearnley Energy A/S Last update: 12 July 2004 A division of the Astrup Fearnley A/S Group of Oslo, Libra FearnleyEnergy A/S is a sizeable participant in the oil broking market through itsaffiliates in Paris, London, Houston and Singapore. Libra Fearnley Energy, Paris, was formed in June 2000 from the merger of two established broking firms withthe objective to better service the fast changing Oil and Gas industry: - Libra Petroleum, founded in 1978, acquired a worldwide reputation as brokersin the Naphth, Gasoil and LPG spot markets and pioneered the OTC derivatives forNaphtha and LPG, -Fearngas, founded in 1984, gained a first class expertise in LPG term and spotcontracts around the world. Libra Fearnley Energy UK, London, is primarily involved in spot and term LPG contracts in northwestern Europe. Fearnoil, Houston, mainly deals with refinery feedstocks such as VGO and Naphtha, withresidual fueloils and with LPG for the domestic US market. Fearngas, Singapore, focuses on LPG in Asia. With Companies located in key geographical areas, a large team of highlyexperienced specialists and a highly qualified Operations personnel, the Groupis well placed to service and advise the main producers, refiners, endusers andtraders on all aspects of refined oil and gas business, from small coastalmovements through large international shipments to risk management tools. Price movements and changes in the supply and demand scenario are monitored on acontinuous basis, and are instantly transmitted to customers who are alwaysguaranteed expert assistance in undertaking spot, term or hedging transactions. Fearngas supplies a constant stream of LPG market information to its clients andfor publication in a weekly market report. This report is also published in Lloyd's List of London. Fearnley Energy A/S - Contact LIBRA FEARNLEY ENERGY S.A.S. Last update: 13th October 2004 47 bis Avenue Hoche 75008 Paris, France Main Phone : +33 1 58 05 51 49 Main Fax : + 33 1 56 68 98 30 Telex: 212 679 MANAGEMENT Phone: Mobile tel: CHARVERIAT, Lionel lcharveriat@librafearnley.com + 331 58 05 51 11 + 336 85 75 89 85 WINTER, Georges gwinter@librafearnley.com + 331 58 05 51 05 + 336 11 43 43 19 LPG lpg@librafearnley.com + 331 58 05 51 10 BODENHEIMER Sophie + 336 13 59 11 83 CHARMOY Jean-Pierre + 336 07 75 04 29 CHARVERIAT Lionel + 336 85 75 89 85 CHERFILS Daniel + 336 07 75 04 26 CHICHE Alexandre + 336 15 15 15 73 NAPHTHA naphtha@librafearnley.com +331 58 05 51 20 BLUFF Peter + 336 03 18 10 11 FERRE Mathieu + 336 18 46 71 87 MOTTE Patrick + 336 11 71 60 22 RENAUD Nicole + 336 09 37 10 12 DISTILLATES gasoil@librafearnley.com +331 58 05 51 10 BODENHEIMER Dominique + 336 11 71 60 19 HEMRIKA Robbert + 336 15 15 18 39 JALABERT Bruno + 336 11 71 60 20 SYMERS Nicolas + 336 03 18 04 01 TELLERMANN Manuela + 336 11 71 60 23 OPERATIONS (LPG) lpg@librafearnley.com + 331 58 05 51 16 HYLANDER Bo?l JEANNIOT Emilie OPERATIONS (naphta-distillates) ops@librafearnley.com + 331 58 05 51 00 HABIB Jamila HABLET Melanie RIEBER Annette ADMINISTRATION compta@librafearnley.com +331 58 05 51 06 SAVARY Michele + 331 58 05 51 06 SEGOND Joelle LIBRA FEARNLEY ENERGY UK Ltd Albemarle House, 1 Albemarle Street LONDON W1X 3HF, England Tel.: +44 207 647 9730 Fax: +44 207 647 9738 e-mail: office@fearngas.fsbusiness.co.uk Contact: Mobile tel: CHARVERIAT Anne Celian - LPG +44 7831 437 557 GREENDALE Ken - lpg +44 7798 671 831 HARDY Derek - lpg +44 7831 437 557 FEARNOIL, INC. LIBRA FEARNLEY ENERGY US 12012 Wickchester Lane, Suite 350 HOUSTON, TX 77079, U.S.A Tel.: +1 281 759 0245 Fax: +1 281 759 0244 E-mail : fearnoil@fearnoil.com Contact: Home: Mobile tel: EVANS Mary - Fueloil mevans@fearnoil.com +1 713 416 0015 GIOANNETTI Charlotte - Operations cgioannetti@fearnoil.com +1 281 293 7587 +1 713 825 7197 HOFFMAN Quentin - Feedstocks/LPG ghoffman@fearnoil.com +1 713 825 7197 LANKFORD Dave - Fueloil/Feedstocks dlankford@fearnoil.com +1 713 858 2036 FEARNGAS (SINGAPORE) PTE Ltd 268 Orchard Road, #12-02 Singapore 238856 Tel.: + 65 732 9600 Fax: + 65 732 0966 Telex: FGAS RS20360 E-mail: fearngas_sin@pacific.net.sg Contact: Mobile tel: PEDERSEN Torben S. Managing Director + 65 9619 4034 LEGG Ian - LPG / Shipbroker + 65 9838 4113 WILSON David K. - shipbroker + 65 9631 0947 PHUA Esther - LPG Broker + 852 6112 8387 ONG Evelyn - Accounts and finance YONG Kathleen +65 9435 7760 Fearnsale Market info - Sale and purchase | Newbuildingand contracting Five year old Handymax Five year old Capesize Five year old Product tanker Five year old Aframax Five year old Suezmax Five year old VLCC Market info: Fearnbulk | Fearngas | Fearntank | Fearnsale - Sale & purchase | Fearnsale - Newbuilding/Contracting | Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Fearnbulk Fearnbulk isthe dry cargo broking division of Fearnleys A/S. With a staff of 22, including 17 brokers, Fearnbulk handles world-wide chartering of drybulk cargoes and ships from 15/20,000 tdw upto 200/250,000 tdw as well as specialized movements forro-ro, vehicle and container carriers. Fearnbulk's gallery of brokers ranges from the young and eager to the mature andexperienced, and all are available 24 hours a day to take care of anyrequirements or problems with which Fearnbulk's clients may be faced. The diversity ofage and experience within Fearnbulk ensures that, as a team, Fearnbulk is in anideal position to satisfy its clients' needs. Our customers include some of the largest cargo and tonnage owners in the world,for whom we act as brokers and advisors. We assist them in covering singlemarket positions as well as long-term requirements, and in planning forwardstrategy. In collaboration with other divisions in the Astrup Fearnley Group (Sale andPurchase, Finance, Fonds and Research/Consultants) Fearnbulk is in a uniqueposition to cover every facet of the dry cargo market. Fearnbulk's activities Chartering Contract of Affreightment Present freight opportunities Biffex reporting broker/panelist Market update financing alternatives Project Management Joint Ventures Tailor made projects Vehicle movements Ro/Ro Shipments Project development Market Analysis Vessel Evaluation Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Publications ORDER ORDER Reports & Publications - more information Reports Pages: 50 Price: USD 295,- Released: December 2003 World Bulk Trades 2003 (Annual Report) Provides a comprehensive review of the total seaborne trade and cargo movementsby Tankers, Combined carriers and Bulk carriers. Covering all major commoditiessuch as Crude Oil, Iron Ore, Coal, Grain, Bauxite, Alumina, Phosphate,etc. Contents: Development -20000 Update and Prospects - Seaborne CrudeOil Trade - Seaborne Iron Ore Trade - Seaborne Coal Trade - Seaborne Grain Trade- Seaborne Bauxite and Alumina Trade - Seaborne Phosphate Rock Trade - SeaborneTrade of Other Bulk Commodities - Combined Carriers - Total Dry Bulk Shipments -Trade Summary - 35 Tables - 5 Maps Order by e-mail | Orderby fax/post Pages: 60 Price: USD 295,- Released: February 2004 Review 2003 (Annual Report) This report contains a comprehensive survey of the Tanker, Dry Bulk and Gasmarkets, as well as Sale & Purchase, Contracting and Demolition during theyear. The report covers estimated future fleet, trade development and tonnagebalance and includes representative ship sales together with 30 statisticaltables. Contents: World Fleet - World Seaborne Trade - The TonnageBalance - Tanker Freight Market - Dry Cargo Freight Market - Gas Market - SecondHand Tankers - Second Hand Dry Cargo - Newbuildings - Demolition - Looking Ahead Order by e-mail | Orderby fax/post Subscriptionpublications Pages: 2 FREE Fearnleys Weekly Report (Free Weekly E-mailservice) This report contains weekly updates on spot and timecharter rates for thetanker, dry bulk and gas markets. The latest newbuilding contracts, second-handand demolition sales are listed in detail together with newbuilding prices fortank and dry bulk vessels. The report also covers key economic figures such asexchange rates, interest rates, commodity prices and bunkers prices. Register to receive the Weekly Report on e-mail free of charge | Register by fax/post | Download as PDF Pages: 20 Price: USD 495,- Fearnleys Monthly Report (12reports per year) Fearnleys monthly is a unique source of information on the global shippingmarkets. With this report you can follow the Tanker, Dry Bulk, Gas and Containermarket from month to month. The report contains detailed and updated informationon World Economy, Chartering markets, Sale & Purchase, Contracting,Demolition, etc. Frankly Speaking expresses personal views of key staff oncurrent topics, while Special Feature covers in-depth analysis of differentsegments. Contents: Frankly Speaking - World Economy - Dry Bulk Market - Dry Bulk Rates - Dry Bulk Values - TankerMarket - Tanker Rates - Tanker Values -Gas Market - Gas Rates - Gas Values -Container Rates - Container Values - Investment Alternatives - Newbuilding -Demolition - Special Feature Order by e-mail | Orderby fax/post Pages: 30 Price: USD 495,- Bulk Fleet Update (Monthly Report) Monthly Bullk Fleet Update provides a comprehensive survey of the tanker and dry bulk fleets. Contents: Tanker Fleet Profile, Tanker Fleet developmetn, Tanker Fleet Average Age, Tanker Orderbook, Tanker Deliveries, Tanker Deletions, Tankers Sold for Scrap, new Tanker Orders, Dry Bulk fleet profile, Dry Bulk Fleet Dev., Dry Bulk fleet Average Age, Dry Bulk Fleet Orderbook, Dry bulk Deliveries, Dry Bulk Deletions, dry bulk Sold for Scrap, Dry Bulk new Orders, Total orderbook by Type. Order by e-mail | Orderby fax/post Price: USD 995,- 4 reports Oil And Tanker Market (QuarterlyReport) The Oil and Tanker Market examines the different segments in the tanker market.It highlights the recent developments in the oil and tanker market and containsanalyses of the different size the oil and tanker market, and analyses of thedifferent size segments like VLCC, Suezmax, Aframax and Product Carriers. Thisreport contains a wide range of trade and rate statistics, together with updatedfleet figures for vessels for crude oil and oil product transportation. Contents: Demand Indicators - World Oil Demand/Supply - OilProduction - World Crude Stocks - World Seaborne Oil Trade - World EnergyConsumption - Tanker Trade Development - Tanker Fleet Development - TankerTransportation Costs - Tanker Prices - OBO Market - OBO Trades Order by e-mail | Orderby fax/post Register to download a Free Sample ofOil & Tanker Market Quarterly Report as PDF file here . Price: USD 995,- 4 reports Dry Bulk Market (Quarterly Report) In this publication we cover the Dry Bulk Markets in the same manner as for theabove mentioned publication. It highlights the recent developments of the drybulk markets and covers the Handysize, Handymax, Panamax, and Capesize segments.Included are also trade and commodity statistics, fleet, rate, and valuestatistics, as well as updated figures for key seaborne commodity trades. Order by e-mail | Orderby fax/post Research - Press - Review 1998 Press releases REVIEW 1998 Skipsmeglerfirmaet Fearnleys har nylig utgitt sin ?rlige "REVIEW".Den gir forskjellige oversikter og kommentarer til utviklingen i fraktrater ogskipspriser, samt sj?verts handel og fl?teutvikling. Samspillet mellom ulikemarkedskrefter blir analysert med sterkt fokus p? dynamikken som oppst?r n?rulike faktorer trekker i samme eller motsatt retning. Det som ?dela mest for b?rsnoterte rederier ifjor var fallet i "st?lverdien",p.g.a. reduserte nybygningspriser som ogs? presset annenh?ndsverdiene nedover.Fraktmarkedene var ogs? gjennomg?ende skuffende. P? tanksiden m?tte defleste r?oljeskip se en betydelig rate-reduksjon. Unntaket var eldresupertankere som stort sett opprettholdt gjennomsnittsraten. Produkttankskipopplevde en st?rre nedgang enn de st?rre r?oljeskipene. I et gjennomg?endesv?rt negativt t?rrbulkmarked var det de st?rste skipene som hadde det verst.Gassmarkedet ble svekket, og containermarkedet led under fortsatt storeleveringer av nybygg og et veldig ubalansert handelsm?nster med store volumerav billige varer ut fra Asia og store mengder med tomme containere tilbake. Verdens sj?verts handel opplevde, if?lge Fearnresearch, en nedgang i samletvolum for f?rste gang siden 1983, med en beregnet tilbakegang p? 0.7% i 1998,mot en oppgang p? 5.1% ?ret f?r. M?lt i tonn-mil var det en reduksjon p?1.1%, mot en vekst p? 4.8% i 1998. R?oljeskipningene gikk opp fra 1534 til1550 millioner tonn, mens handelen med oljeprodukter falt fra 410 til 395 mt.Kullskipningene ?kte fra 460 til 465 mt, takket v?re ?kt ettersp?rsel etterkull til varmekraftverk, mens jernmalmskipningene gikk ned fra 430 til 420 mt ogkornskipningene fra 203 til 190 mt. Volumet av mindre bulkvarer ansl?s ? hag?tt ned med 4%. Verdensfl?ten ?kte med 1.4% til 732.4 millioner dwt. Levering av nye skip gikksvakt ned fra 36.8 mdwt i 1997 til 35.0 mdwt i 1998, mens avgangen ?kte fra15.3 til 23.6 mdwt. Volumet av nybygningskontrakter gikk ned fra 54.6 til 42.4mdwt. Bestillingen av nybygg gikk ned fra 29.3 til 18.6 mdwt for tankskip, ogfra 16.1 til 12.8 mdwt for t?rrbulkskip, men ?kte fra 9.0 til 11.0 mdwt forandre skipstyper. Verdens ordreb?ker vokste fra 85.3 til 92.7 mdwt, hvilkettilsvarte 12.7% av den eksisterende fl?ten ved ?rsskiftet. For tankrederiene synes den store ordreboken, som tilsvarer hele 17% aveksisterende fl?te, ganske ukomfortabel. Lave nybygningspriser har nok v?rtmer utslagsgivende for bestilling av nye skip enn relativt beskjednemarkedsforventninger. Leveringene av nye tankskip i 1999 bel?per seg til 7.5%.Prognoser for veksten i verdens oljekonsum i 1999 ligger p? dr?yt 1%, menstankfl?ten forventes ? ?ke med ca. 2.5% etter fradrag for opphugging. N?rman skal se fremover, er det if?lge Fearnresearch sv?rt frustrerende formarkeds-analytikere og beslutningstagere at det er s? store sprik i dentilgjengelige oljestatistikken for produksjon, konsum og lagerhold. Forvirringener meget stor, tallene som oppgis fra ulike kilder viser store forskjeller ogkorrigeringene som kommer for sist rapporterte periode er betydelige. I en markedskommentar opplyser forskningssjef Jarle Hammer at den h?ystbrukbare starten p? ?ret for stortankmarkedet forel?pig har f?rt tilredusert opphugging av tankskip, men huggingen vil nok ta seg betydelig oppetter som ganske mange skip n?rmer seg 25-?rs klassen. Den eksisterendefl?ten av s?kalt VLCC tonnasje, tankskip over 200,000 dwt, var p? 432 skipved ?rsskiftet, herav vil 44 v?re eldre enn eller bli 25 ?r i l?pet av 1999.Hvor mange som velger ? ta skipene gjennom en ny kostbar oppgradering gjenst?r? se, mens det skal leveres ca. 30 VLCC'er i l?pet av ?ret. P? ettersp?rselssiden viser ?rets f?rste to m?neder en nedgang i verdensoljekonsum p? ca. 0.5% i f?lge enkelte statistikker. Imidlertid harproduksjons- og handelsm?nsteret forandret seg i gunstig retning fortankmarkedet. De lave oljeprisene med lete- og utbyggingst?rke ioffshoren?ringen, samt betydelige kutt i amerikanske minibr?nner, kan f?retil at Midt?sten og andre omr?der som ligger i betydelig avstand fra de storekonsumentomr?dene etter hvert kan gjenvinne tapte markedsvolumer. P? den annenside vinner kull fortsatt markedsandeler av energikonsumet i flere land i Asia,og gassforbruket ventes ? ta seg vesentlig opp n?r ?konomiene i Asia etterhvert finner tilbake til en normal vekst, som dog forventes ? ligge vesentliglavere enn den h?ye veksttakten man s? f?r Asiakrisen startet i 1997. Etnegativt trekk er at dersom man forventer enda lavere oljepriser i tiden somkommer, s? kan man godt se et scenario hvor man selger fra overfylte lagre ogdette vil da for en periode redusere transportbehovet for olje. T?rrbulkmarkedet var generelt en gedigen nedtur i 1998. Imidlertid var markedetikke helt uten liv, og fra midten av august til midten av oktober steg dens?kalte BIFFEX-indeksen for store og mellomstore skip med 30% fra et veldiglavt niv?, for s? ? falle helt tilbake mot slutten av ?ret. Import av billigst?l fra ?sten til USA og Europa bidro til lange reiser med st?l-produkter,samtidig som produsentene importerte r?varer som jernmalm og metallisk kullover lange avstander. ?kte st?llagre og stigende valutakurser for den japanskeYen og koreanske Won dempet volumet i st?lhandelen mot slutten av ?ret. Det er positivt at opphuggingen av t?rrbulkskip fortsetter i h?yt tempo.T?rrbulkfl?ten sank med nesten 1% i andre halv?r ifjor. Ordreboken ved?rsskiftet utgjorde 9.8% av den eksisterende fl?ten, hvorav nesten 5.5% skalleveres i 1999. T?rrbulkfl?ten forventes ? forbli noenlunde stabil gjennom?ret. I l?pet av tre uker i februar steg BIFFEX-indeksen plutselig med hele25%, drevet av ?kte kornskipninger fra Syd-Amerika, som binder opp forholdsvismye tonnasje p? grunn av lange havnetider, og med st?tte fra en mer stabilst?lindustri. Det er imidlertid trolig alt for tidlig ? si om man allerede harsett et virkelig vendepunkt etter den store nedturen som startet p? v?rparteni 1995. Fearnresearch 3. mars 1999. Previous releases: Research - Press Press Release WORLD BULK TRADES 2001 REDUCED PROSPECTS FOR OIL AND DRY BULK TRADES IN 2002 (Oslo 4th January 2002) According to Fearnresearch, the research arm of Norwegian shipbroker Fearnleys AS, the prospects for both the wet and dry bulk trades deteriorated significantly in late 2001. A dramatic deterioration took place in both markets following economic stagnation and decline in most countries. Last year, the dry bulk trades were more stable than the oil trade. The steel industry, which expanded much more than expected in 2000, managed to show a fairly flat total development in 2001 thanks to continued strong growth in China. Measured in tonne-miles (cargo volume times distance), seaborne crude oil trade is estimated to have decreased by about 2% in 2001, and Fearnresearch now foresees a further decrease of about 1.5% in 2002. Tonne-miles for the main dry bulk commodities increased by over just below 1% last year, whereas a modest growth of almost 2% is foreseen for this year. For comparison, in 2002 the tanker fleet is expected to increase by 1.4% and the bulkcarrier fleet will increase by 2.6%. Comprehensive reference material Fearnresearch has just published its report "World Bulk Trades 2001 . It gives an update of shipped volumes in 2001 and comments on developments for the next couple of years. At the same time, the report contains a thorough analysis of shipments by oil tankers and dry bulk vessels in the preceding year, with a comprehensive survey of details for shipments by different vessel sizes. This is based on tracking of all vessels in the world above 50,000 dwt. In its field, the report is recognized as the most authoritative one and the report has been published since the beginning of the 1960's. 2001 Update Production figures for key industries during the first 11 months of 2001 show for crude oil output at practically same level and pig iron, which requires iron ore and coking coal, surprisingly stable in a bad year for the steel industry outside China, with an increase of 0.3%. During the first 10 months of the year, world aluminium production was down 2.8%. Grain exports were down 9% for the first 9 months of the year. Middle East OPEC s oil production decreased strongly through the year, and production in November was 10% lower than one year before. The steel price was low and decreased further towards year end. World steel production in November was 2.4% lower than one year before, whereas pig iron production was only 0.8% lower. Volume summary and forecasts Estimates from Fearnresearch show that international crude oil shipments, excluding some coastal and short-sea trade, decreased from1608 million tonnes in 2000 to1595 mt in 2001, to be followed by about 1600 mt this year and 1625 mt in 2003. For the five largest dry bulk commodities, there seems to be an increase from 1288 mt in 2000 to 1303 mt in 2001 with a certain slowdown late in the year. An increase to 1328 mt is expected this year and further growth to 1371 mt in 2003. These estimates are based on a scenario of somewhat lower oil prices than today, a stable climate between leading countries, and significantly bleaker short-term economic prospects than one year ago. A closer look at the dry bulk side shows that coal was the big and only winner in 2001, with a growth from 523 mt in the preceding year to surprisingly high 560 mt. Fearnresearch foresees further growth to 575 mt this year and an increase to 595 mt in 2003. Iron ore is estimated to have decreased from 454 mt in 2000 to 445 mt in 2001, with about the same volume expected this year and 455 mt in 2003. Grain shipments fell from 230 mt in 2000 to 220 mt in 2001. Expected volumes are about 230 mt in 2002 and 240 mt in 2003. Tonne-mile summary and forecasts Tonne-miles figures express volume times distance and constitute an important input in market analysis in shipping. For crude oil, the tonne-mile development in recent years has been significantly weaker than the development in shipment volumes. This is due to increased volumes in short-haul trades and changing trade patterns, where non-OPEC sources increase their market share. After crude oil tonne-miles increased by about 2.5% in 2000, Fearnresearch has estimated a decrease of 2% to 8015 billion tonne-miles in 2001 to be followed by a further decrease of 1.5% to 7895 btm in 2002 and a slight recovery of 0.5% to 7935 btm in 2003. For comparison, there was a peak of 10408 btm in 1977 and a bottom of 4007 btm in 1985. This means that crude oil tonne-miles in 2001 were 23% lower than 24 years ago, but at the same time about twice as high as in the mid-1980 s. Tonne-miles for the five main dry bulk commodities have shown a much more even development over the last few decades and more than tripled since the early 1970 s. After a very strong growth of over 7% in 2000, Fearnresearch has estimated a growth of just below 1% in 2001to about 6700 btm and now expects an increase of almost 2% this year to about 6830 btm this year, to be followed by a growth of well above 3% to 7050 btm in 2003. FEARNRESEARCH 10 January 2002 For more information, please contact Mr. Jarle Hammer of Fearnresearch/Fearnleys by phone no.: +47 22 93 60 00 or by e-mail: fearnresearch@fearnleys.no Previous releases 2001: Bleaker outlook Weaker Dry Bulk Rates Tanker Market prospects Different prospects for.. What goes up must.. Very bleak Dry Bulk market 2000: Review 1999 Ordering of new vessels.. S teady Dry Bulk Market Research - Press Press Release DETERIORATING TANKER PROSPECTS (Oslo 7 February 2002) Fearnresearch, the research department of Norwegian shipbrokers Fearnleys, has in its latest Oil and Tanker Market Quarterly revised downwards all rate and tanker price forecasts for 2002 and foresees only minor improvements in 2003. Rates and values decreased strongly as tonnage demand developed in a very negative way in late 2001. At the start of 2001, IEA expected world oil demand to increase by 2.0% in 2001. The latest estimates stand at disappointing 0.1% growth in 2001. This is due to economic setbacks, extremely mild weather in key markets and strong competition from other types of energy, particularly coal and gas. Most of the oil demand growth (which did not materialize) was expected to be covered by Middle East OPEC. Instead, OPEC lost market shares and produced 3.2 million b/d less in December than 14 months before, whereas non-OPEC production over the same period rose 2.3 mbd. In December, North Sea output was 9% higher and Russian output 7% higher than one year before. Due to reduced average shipment distance, the tonne-mile development became very disappointing for tanker owners and short as well as medium term demand prospects now seem far less encouraging than only a few months ago. Shipments by oil tankers over 50,000 dwt , measured in tonne-miles, are estimated to have decreased by 2.4% in 2001. Fearnresearch foresees a further decrease of 1.2% in 2002 to be followed by a modest increase of 1.0% in 2003. The oil tanker fleet decreased significantly in 4Q after a rush in scrapping sales and conversion of tankers to offshore purposes. Over 2001, the tanker fleet decreased by 0.2% and is expected to increase by 1.4% in 2002 and 3.8% in 2003. At the start of 2002, the order book stood at 23.4% of the existing fleet and scrapping is expected to continue at high pace, as seen in the first part of 2002. Demand setbacks Recent developments have lead to substantial changes in tonnage demand forecasts. Since last quarter, our tonne-mile estimate for tankers over 50,000 dwt in 2001 is reduced, from 1.2% growth to a decrease of 2.4%. For 2002, the estimate has changed from 2.2% growth to a decrease of 1.2%, and the new forecast for 2003 is a slight growth of 1.0%. The crude oil trade volume is estimated to have decreased from 1608 mt in 2000 to 1595 mt in 2001 and foreseen to increase moderately to 1600 mt in 2002 and 1625 mt in 2003. Due to changing trade patterns, especially more oil coming from FSU and W.Africa, crude oil tonne-miles will develop somewhat weaker. The oil products trade volume fell from 419 mt in 2000 to 417 mt in 2001 and is expected to increase to 425 mt in2002 and 433 mt in 2003 with a somewhat stronger tonne-mile development due to longer shipment distances. High scrapping dampens fleet growth The oil tanker fleet decreased by 0.7% in 4Q01 and was down 0.2% over the whole year 2001 to 279.9 mdw. Fleet growth estimates have been revised downwards and we now expect increases of 1.4% in 2002 and 3.8% in 2003. Scheduled deliveries in 2002 amount to about 25.4 mdwt, however, we expect a strong increase in deletions this year to about 21.5 mdwt, which will effectively cap the net fleet growth. In 2003, about 28.4 mdwt is scheduled for delivery and new orders could lift the delivery volume by another 2 mdwt. We expect high volumes of scrapping in 2003 as well and our base case scenario includes removals of about 19.6 mdwt. For vessels above 50,000 dwt we have since last quarter revised the fleet growth forecast for 2002 down from 1.6% to 1.2% and for 2003 down from 4.4% to 3.5% due to higher scrapping and reduced demand forecasts, before an increase of 2.5% in 2004. Growth in the 10-50,000 dwt tanker fleet in 2002 is revised down from 3.4% to 2.4% and in 2003 up from 4.8% to 5.8%, due to expectations of a rather solid product market. Thereafter, this size group is expected to grow by only 1.5 mdwt in 2004. Ordering of new tankers fell from 8.0 mdwt in 3Q01 to 2.8 mdwt in 4Q, whereas tanker demolition sales increased from 3.0 mdwt in 3Q to 7.2 mdwt in 4Q. Timecharter rates Timecharter rates fell strongly in 4Q, most for the largest sizes. Rates for 12-month periods are expected to decrease rather moderately from present low levels in 2002 and recover in 2003. For some sizes the recovery could start late this year. VLCC s could see a decrease from USD 27,500 per day at end 2001 to USD 25,000 at mid 2002 and rise to USD 30,000 by end 2003. Timecharter rates for product carriers are expected to show rather small variations and remain in the USD 13,000 range for a 40,000 tonner throughout the period. (See forecasts next page) Tanker Second-Hand Values All second-hand values have been revised downwards from the October 2001 issue. Prices are expected to continue to fall over the next 12-18 months before a slight recovery in the last part of 2003. Thus, the value of a 5-year old VLCC is expected to fall from USD 60 million at end 2001 to USD 50 m by mid 2003, before recovering somewhat to USD 52.5 m by end 2003. Suezmax and Aframax will see a similar type of development, whereas a product carrier of 40,000 dwt after an initial drop from USD 25.5 m to USD 24 m during 1.half 2002, will remain almost stable for the remainder of the forecast period. Newbuilding Prices Newbuilding prices are under downward pressure and decreases of about 5-7% are expected in the course of 1.half 2002. Thereafter , we expect a stabilization in 2.half 2002 and a general recovery through 2003 to same levels as today for product carriers and Aframaxes and to levels slightly below those of today for larger tanker sizes. FORECASTS JANUARY 2002 End 2001 Mid 2002 End 2002 Mid 2003 End 2003 VLCC 12-month timecharter modern USD/DAY 27,500 25,000 25,000 27,000 27,000 Second-hand 5 years old USD m 60.0 54.0 51.5 50.0 52.5 Newbuilding prices USD m 72.0 67.0 67.0 68.0 71.0 SUEZMAX 12-month timecharter modern USD/DAY 19,000 17,500 19,500 22,000 25,000 Second-hand 5 years old USD m 43.0 38.5 36.5 35.5 37.5 Newbuilding prices USD m 48.0 45.0 45.0 45.5 47.0 AFRAMAX 12-month timecharter modern USD/DAY 18,000 16,000 17,000 18,000 19,000 Second-hand 5 years old USD m 33.0 29.5 28.0 27.5 29.0 Newbuilding prices USD m 37.0 35.0 35.0 35.5 37.0 PRODUCT 40,000 dwt 12-month timecharter modern USD/DAY 13,750 13,250 13,250 13,500 13,750 Second-hand 5 years old USD m 25.5 24.0 23.5 23.5 24.0 Newbuilding prices USD m (45 ) 26.5 25.0 25.0 25.2 26.5 For more information, please contact Mr. Jarle Hammer of Fearnresearch/Fearnleys by phone no.: +47 22 93 60 00 or by e-mail: fearnresearch@fearnleys.no Previous releases 2002 World Bulk Trades 2001 2001: Bleaker outlook Weaker Dry Bulk Rates Tanker Market prospects Different prospects for.. What goes up must.. Very bleak Dry Bulk market 2000: Review 1999 Ordering of new vessels.. S teady Dry Bulk Market Research - Press Press Release GOOD HOPES OF DRY BULK RECOVERY (Oslo 18 February 2002) Fearnresearch, the research department of Norwegian shipbrokers Fearnleys, has in the latest issue of its Dry Bulk Market Quarterly revised upwards forecasts for rates and second-hand values, but newbuilding values slightly downwards. For 2003, a general dry bulk market improvement is foreseen because of an expected general recovery in world economy combined with modest fleet growth as the strong wave of bulk carrier newbuildings is subsiding late this year. After a steep downturn since late year 2000, prospects are now starting to look somewhat better. Freight and timecharter rates are still at modest levels, but second-hand prices seem to have bottomed out already and are now showing clear signs of improvements. Economic prospects in most countries are still bleak in the short term, but forecasts for 2003 are pointing upwards. Global steel output has remained remarkably stable in a period with strong setbacks in industrial output in most countries outside China, India and Russia. The trade in thermal coal is booming and China s entrance into WTO could boost trade volumes in grain and other commodities. The great wave of newbuilding deliveries will subside as 2002 elapses, whereafter the bulkcarrier fleet growth will be limited for a while, expectedly coinciding with increased tonnage demand. Hence, we foresee an improved tonnage balance with increased rates and ship prices in 2003 and well into 2004. We can register renewed interest for bulkcarrier newbuidings based lower prices and expectations of a dry bulk market upturn from present dismal levels. FREIGHT MARKET During fourth quarter 2001, the Baltic Dry Index fell back another 12% to end the year as much as 45% lower than one year before. However, 2002 has started better and upto mid-February there was an increase of 9%. A look at individual size groups show that the Capesize index decreased 12% in 4Q01, before an increase of 18% in early 2002. Panamax was down 16% in 4Q01, before an increase of 11%, whereas handymax was down 9% in 4Q01 and, in contrast to larger sizes, continued to weaken by 4% upto mid-February. The fall in timecharter rates slowed down in 4Q01, before solid increases for Capesize and Panamax and modest changes for handymax in early 2002. Fearnleys forecasts for timecharter rates, second-hand prices and newbuilding prices are given in the table below. TRADE VOLUMES Raw material imports to the troubled steel industry outside China decreased somewhat in the last part of 2002, whereas the buoyant thermal coal trade only continued to increase despite poor economic activity in many importing countries. Grain exports were slow in 4Q, both from the USA and Argentina. On an annual basis, world seaborne coal trade is estimated to have increased from 523 million tonnes in 2000 to about 560 mt in 2001, whereas iron ore has decreased from 455 mt to 445 mt, grain from 230 mt to 220 mt, and other dry bulk commodities from 900 mt to 890 mt. Total dry bulk trade decreased by 0.4% in volume to 2115 million tonnes in 2001, after a strong growth of 6.3% in the preceding year. Measured in tonne-miles, there was a marginal decrease of 0.1% in 2001. Dry bulk volumes and tonne-miles are both expected to increase by about 2% in 2002 and 3% in 2003. FLEET DEVELOPMENT The bulk carrier fleet showed only modest growth in 4Q01, increasing from 289.3 million dwt to 289.8 mwdt. During 4Q01, the order book for bulk carrier newbuildings fell from 28.0 mdwt to 25.6 mdwt. New orders fell from 2.0 mdwt in 3Q01 to 1.0 mdwt in 4Q01, whereas demolition sales rose from 2.0 mdwt to 2.7 mdwt. The total bulk carrier fleet increased by 4.7% during 2001 and is expected to increase by 2.6% in 2002 and only 0.8% in 2003. Compared with the expected trade development, this indicates a clear tonnage balance improvement in 2003, which could well take off in late 2002. The bulk carrier order book of 8.8% compared with existing fleet at the start of 2002 appears rather modest compared with as much as 23.3% for oil tankers and 26.7% for container vessels. We repeat our statement from one quarter ago that in 2002 - but now rather earlier than previously expected - there will be good opportunities for good second-hand purchases and other forms of tonnage coverage. The danger is, as always, a new round of excessive ordering of new vessels. With very bleak prospects in the tanker and container market, it seems likely that newbuilding prices will be pressed down somewhat further before flattening out in second half this year and recovering to about present levels in the course of next year. For more information, please contact Mr. Jarle Hammer of Fearnresearch/Fearnleys by phone no.: +47 22 93 60 00 or by e-mail: fearnresearch@fearnleys.no Previous releases 2002 World Bulk Trades 2001 Deterioriating Tanker prospects 2001: Bleaker outlook Weaker Dry Bulk Rates Tanker Market prospects Different prospects for.. What goes up must.. Very bleak Dry Bulk market 2000: Review 1999 Ordering of new vessels.. S teady Dry Bulk Market Research - Press Press Release CONTINUED DRY BULK UPSIDE, TANKER DOWNSIDE (Oslo 15 th May) Fearnresearch - the research arm of Norwegian Shipbrokers Fearnleys A/S - has just issued a new set of quarterly updates Dry Bulk Market and Oil and Tanker Markets . Whereas the dry bulk market has recovered more than expected one quarter ago, with higher spot voyage rates, timecharter rates and second-hand values, the opposite has been the case in the tanker market. Newbuilding prices have shown a weaker tendency, with a few exceptions on the dry bulk side, where ordering of newbuildings rose strongly from only 1.1 million dwt in 4. quarter 2001 to 3.8 mdwt in 1Q02 and dry bulk newbuilding activity continues to be substantial. In the dry bulk market, global steel output continues to show a surprisingly stable trend with China firmly in the drivers seat. Thermal coal shipments have been negatively influenced by a record-mild winter in the Far East and other parts of the Northern Hemisphere. China s membership in WTO and delayed grain exports from Argentina s record crop could open for a tonnage demand push later than the normal River Plate season in the grain market. The strong newbuilding wave in the dry bulk market will subside later this year. After a growth of 4.7% in 2001, the dry bulk fleet is expected to increase 3.2% in 2002 and only 1.2% in 2003. For comparison, Fearnresearch s present estimate for dry bulk tonne-miles show the following development: +0.6% in 2001, +2.3% in 2002, and +3.7% in 2003. After a rather hesitant and stable period over the next few months, dry bulk markets are expected to strengthen substantially up to mid-2003, before flattening out or showing rather modest growth. Compared with end 1Q02, 12 months timecharter rate levels are expected to go up by almost 40% for Capesize, up about 25% for Panamax and up about 30% for handymax by end 2003. Much of the ship value increases in this market upswing seem to be taken out already, but there should still be room for some 10-13% price increase for all sizes by mid 2003. The window is still open , but a new round of excessive ordering of newbuildings could well close it some time into 2004. The tanker market has suffered from very slow global oil demand growth and significant declines in several market areas. Worse, production and trade patterns are changing in a negative way for tanker owners. OPEC s market share is decreasing and its output is down to the lowest level since 1993. FSU emerges as a more important energy supplier of oil, gas and coal. Russia is taking on an increasingly vital role as an energy partner for Europe and others. Continued conflicts in the Middle East and Russia s new role in NATO will only accentuate this trend. Average shipment distances have decreased strongly. On a tonne-mile basis, shipments of crude oil and oil products in 2001 are estimated to have decreased by as much as 4.6% after a volume decrease of 1.5%. For 2002, tonne-miles are expected to remain about stable, before an expected increase of 2.3% in 2003. The tanker fleet decreased by 0.7% in 2001. For this year, Fearnresearch estimates a growth of 2.5%, after downward revisions due to heavy scrapping, before a growth of 3.7% next year. This indicates a deteriorating tonnage demand/supply balance. Spot rates for the largest sizes could hardly become worse than those seen recently, and there seem to be only limited short-term upsides in the traditionally weak 2. quarter in a situation with ample oil stocks in main market areas. T/C rates are expected to drop somewhat further before increasing slightly towards end 2002 and then rising significantly for crude carriers, and particularly for VLCC s, towards end 2003. This must be seen as an anticipation of a better market setting in 2004. Whether this will come to pass could seem doubtful, but high tanker scrapping volumes in combination with ordering restraint could possibly pave the way for better prospects. Second-hand crude tanker values at end 2003 are expected to be slightly lower than at end 1Q02, after dropping 10-13% by the end of 2002. Newbuilding prices are generally expected to bottom out at the end of this year before recovering to roughly the same levels as today, with a couple of notable exceptions. Suezmax tankers will probably become more popular due to the expected growth in typical Suezmax trade. On the other hand, ordering interest for Aframax should become less pronounced due to an existing order book of as much as about 30% compared to the existing Aframax fleet. For product carriers, rates and values are expected to remain fairly flat with a slight upside potential upto end 2003 after some initial weakening. For more information, please contact Mr. Jarle Hammer of Fearnresearch/Fearnleys by phone no.: +47 22 93 60 00 or by e-mail: fearnresearch@fearnleys.no Previous releases 2002 World Bulk Trades 2001 Deterioriating Tanker.. Good hopes of dry bulk.. 2001: Bleaker outlook Weaker Dry Bulk Rates Tanker Market prospects Different prospects for.. What goes