Seatrade Tanker Industry Conference 2010

What are the prospects for the tanker market in 2010 and beyond? World oil consumption is forecast to resume growth in 2010 following a weak performance in 2008 and 2009. On the supply side a heavy delivery schedule of new ships coupled with a low rate of scrapping old ones has forced rates down.

So will the MARPOL deadline of end 2010 for the demolition of single hull vessels, coupled with stronger economic activity, bring rates back? Some commentators are predicting that a combination of factors, including slow steaming, the use of tankers for floating storage and port delays may reduce the effective fleet significantly.

Normal full day conference rate = US$600