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.