Danish Ship Finance has published its latest keenly awaited biannual shipping markets report, backing up coverage led by Splash Extra<\/em> that suggests the tanker trades are on course for their best earnings this century<\/a><\/span>.<\/p>\n The influential report, which tends to be read by thousands within the industry, covers all the main sectors, but reserves its most glowing commentary for the crude and product trades, which it says are positioned for an \u201cextraordinary\u201d earnings season this year and next.<\/p>\n Distance-adjusted demand is predicted by the Copenhagen outfit to expand by 5.6% and 10.9%, for crude and product tankers respectively, while the fleets are scheduled to expand by less than 3%. When the Danish analysts then added the fleets\u2019 reduced cargo-carrying capacity as a result of longer travel distances, and the expected slow steaming of older vessels in the wake of the new International Maritime Organisation regulations \u2013 EEXI and CII, Danish Ship Finance said tankers have one of the strongest market outlooks for decades.<\/p>\n Analysis from Braemar earlier this year showed laden crude tanker utilisation averaged 89% in Q1 with the broker forecasting overall laden tanker utilisation rising to 91% by the end of this year, settling at roughly 92% from the end of 2024 to 2026 before dipping under the weight of newbuilding orders.<\/p>\n Data from AIS trackers carried in the latest issue of Splash Extra<\/em><\/a><\/span> shows that the amount of oil on the water remains higher this year than for any of the previous five years.<\/p>\n Tanker panellists at last week\u2019s\u00a0this week\u2019s Maritime CEO Forum in Singapore<\/a><\/span>\u00a0were all confident that this year would be a very solid one for the sector.<\/p>\n \u201cWe think it looks good for 2023 and beyond,\u201d said Alan Hatton, the CEO of Foreguard Shipping. \u201cThe orderbook remains low, and to order a ship costs top dollar and you have to wait, and we still don\u2019t know what propulsion to choose.\u201d<\/p>\n To access the full 59-page report from Danish Ship Finance, click here<\/a><\/span>.<\/p>\n