“Markets April 2020.”
Latest Market Update
EUROPE: “… The shipping markets: today while the dry cargo and container trades sees the very dark clouds in front, the larger tanker players in this scene are all smiles despite the cruel death toll this virus is leaving behind. How to explain that oil has a negative value while the clean market is going ballistic? Supply and demand are not responding in the usual sense. While rates in Europe are yoyoing depending on the commodity, all refineries have no incentive to refine more products because demand is lacking. With almost no cars on the streets, no flights or only the extreme minimal flights are taking places, ferries and cruise ships being laid-up waiting for news, main ro-ro players laying up to 25% – 30% of…
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