Aframaxes the order of the day

Aframaxes the order of the day

Buy aframaxes, especially coated ones. That’s the view of two of the leading names in shipbroking. Speaking at the tanker session at today’s Asian Logistics and Maritime Conference in Hong Kong, Dr Martin Stopford from Clarkson Research and Jeff Goetz, the head Poten & Partners, gave their ship investment picks when quizzed by Splash.

Stopford also told delegates to make the most of the current tanker run, because it was unlikely to last too long. He predicted a full year 4% oil growth in the oil trades for this year. He questioned how tankers could be earning $60,000 a day when there is still a 25% surplus in the global tanker fleet.

“There is something about the whole oil dynamic that does not fit with the rates today,” Stopford said.

Nevertheless, if the oil price remains low, and US oil production continues to fall, tanker rates should be okay for the coming year or two, he said.

“Enjoy the good rates while they are there,” the famous shipping analyst and author told delegates.

Poten’s Goetz said the outlook remains “very good” for larger crude tankers in the coming 12 months. Even the lifting of Iranian sanctions should not diminish prospects, the American said. Iran’s ships are still in service, Goetz noted. “I don’t see it having this huge impact,” he added.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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