Latest News

22/08/2017

Gibson Long Term Tanker Market Outlook Launched

This study covers the outlook for the tanker market over the next five years. The findings are based on the forecast balance between future tanker supply and demand, following the detailed analysis of fleet prospects, world crude production and crude and products trade. The report discusses in detail market developments in all tanker segments above 25,000 deadweight and conclusions are made on the future direction of freight rates up to 2022. Our methodology of calculating tanker owner’s daily earnings captures the...

20/12/2016

Far East offices come together to enjoy festive breakfast

As is customary this time of year, the ladies from our Singapore, Hong Kong and Beijing offices came together to celebrate a successful and expansive year for Gibsons in the Far East. From left to right: Anna (Beijing), Stefanie, Sheryle, Adelene and  Eunice (Singpore) and Jessie (Hong Kong)

20/10/2016

Nigel Richardson reflects on ‘transitional period’ at Gibson

Gibson Shipbrokers has been through a transitional period in the past year, says managing director Nigel Richardson. His choice of phrase, common among football managers, is perhaps apt, given the poaching of a team of 10 clean brokers by a cross-town rival and the reshaping of the dry cargo desk following the retirement of some respected pros. Add in a historic change of ownership, the opening of a new dry cargo office in China and arguably the worst shipping crisis in decades, and Richardson has had plenty on his plate of...

18/10/2016

Tanker execs ‘unfazed’ by Opec production cuts

Tanker executives remain sanguine in the immediate wake of Opec’s announcement last week that it would cut production. The cartel’s members announced a deal to target oil production of between 32.5 million and 33 million barrels per day, down from an estimated level of 33.2 million barrels per day in August. Tanker demand, especially for very large crude carriers (VLCCs), has been buoyed this year by increasing cargoes out of the Middle East. But the prospect of a cut could further hurt the asset class, which is...

17/10/2016

Suezmax delivery slippage sparks rethink on outlook

Suezmax tanker deliveries may slow next year thanks to more slippage in the orderbook. But it remains unclear whether the slippage will be sufficient to give rates much of a boost. Many market watchers consider the orderbook for suezmax tankers, which stands at north of 10% of current capacity, as one factor weighing down freight rates. Although rates bounced back in September thanks to the resumption of some Nigerian crude exports, year-to-date spot freight rates from West Africa to Europe have averaged $23,000 per day, about...

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