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PRODUCT TANKERS - Product tankers have the opportunity of delivering decent figures in 2018, but this is not a given, says Peter Sand. We are witnessing an oil market that is still in a constant struggle with large stock everywhere in the world, of refined products as well as petroleum products. If we take a look at refined oil products, the market in which the product tanks are located, is driven by two elements. The basic demand for oil – the fact that we still use more oil, and then a firm element of trade - where the upset balance that is found around the world contribute to the shipping of a lot of products. And when a situation with lots of stuffed storage occurs, those areas practically disappear. That is why we witnessed lower growth this year and probably also will during the majority of 2018. I think we have

to look towards the beginning of the winter season 2018 before we start seeing progress for product tankers. Therefore 2018 will be a challenging year for product tankers, Peter Sand concludes. CRUDE OIL - We expect the Crude oil market to be considerably more pressured than product tankers. The reason is somewhat similar. There is a lot of crude oil on stock. A lot of adjusting still needs to be done, and it may happen over the next year, and this will decrease the prize of crude. The capacity is too large compared to the demand, so crude oil tankers are in for a negative 2018, no matter how we look at it. DANISH SHIPPING - Danish shipping is equally as global and international as the rest of the worlds shipping industries, and therefore it falls victim to the same situations as the rest of the world – at least the other major ones do. Of course Danish shipping also has some more local companies

who operate in coastal transport and Short Sea Shipping in Europe, and they might reap some benefits from the current optimism in the European economy, Peter Sand believes. SHIP BUILDING - In the dry cargo area, we have witnessed contracts in 2017 that looked like the ones predicted, while in the container area we experienced a striking setback of 400,000 TEU, the form of an order of 20 ships with a capacity of 20-22,000 TEU. No matter who places the orders, it’s certainly not something industry is enjoying seeing, as we are already over-capacity. Of course the individual shipping companies have given this a thought and they see it fit for their own optimization, but if we take a general look at it, it’s not exactly what we need, says Chief Engineer Peter Sand.

to the market, which determines if it will be a positive or a negative year. But all things aside, 2018 is bottom line a good year for the containers, says Peter Sand.

In 2017, we saw a 5 percent growth in demand, which is the largest growth we have experienced in several years. - Peter Sand, Chief analyst, BIMCO

DAILY NEWS ON WWW.MARITIMEDENMARK.DK

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danish maritime magazine

Profile for Media Group Maritime Denmark

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Danish Shipping Industry - Facts and Figures: In 2017, the Danish fleet has grown considerably and reached an all-time high when measured by...

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Danish Shipping Industry - Facts and Figures: In 2017, the Danish fleet has grown considerably and reached an all-time high when measured by...