Home      Search      Sitemap      Employees only      Help      Contact us   


At the turn of the century, oil production in the North Sea peaked at about 6.3 mb/d. During 1Q09 output was about 4.4 mb/d - a decline of about 30%, or 1.9 mb/d, and the outlook is not bright. This could, however, become a very positive stimulus to tanker demand.

  Read more

It is a Riddle…

...wrapped in a mystery, inside an enigma...to partly quote Winston Churchill in his famous speech about the Soviet Union in 1939. Now, we believe it is appropriate to use his words when describing the shipbuilding market these days. The market is flourishing with rumours, statements, and proclamations of all sorts these days. But what is the true situation? Sadly, we think nobody knows.

  Read more

Ordem e Progresso!

Nobody would argue strongly against the assertion that China has almost single-handedly been the main driver behind the past five years’ fantastic dry bulk market - this was especially true in the Capesize market with its almost insatiable appetite for iron ore. What now? We observe some ominous trends.

  Read more

Old Habits Die Hard

After the disastrous accident in South Korea on the 7th of October 2007, where more than 66,000 barrels of crude oil was spilled into Korean waters, governments and oil companies in various countries cried out with promises to stop using single hull tankers. The picture of oil slick beaches, dying sea birds and several hundred thousands of volunteers’ working day and night to clean up the spill was broadcasted all around the world. With demonstrations by local fisherman who lost their livelihood and general public outrage, the South Korean government indicated that they would reduce the usage of single hull tonnage and ban single hull vessels from 2011, or 2015 with permission from flag and port states. South Korean GS Caltex and STX Energy followed up by banning single hull vessels from 2010 from their import program. Other Asian nations followed suit with the Philippines banning single hull vessels from April 2008. China and Japan also stated that they would reduce the usage of single hull vessels into their ports.
  Read more
Market Update Updated 01.01.1970


The firm trend for the VLCCs in the Meg the previous week has started to dwindle. Some quiet days, presumably related to the Eid holidays, with relatively low activity has started to impact the general sentiment. The few firm cargoes that ...
 Read more

Dry Bulk

Dull and without direction despite widespread expectations of near-term recovery and a massive contango towards year-end. Cargo volumes, coal in particular, presently not sufficient to employ a growing fleet. Most evident in the west, with ...
 Read more


The VLGC market has been rather in-active this week, where market players seem to await next month’s contract pricing prior to making their next moves. One VLGC in the Eastern market was placed on subs but apart from that not much to report...
 Read more


The holiday season is clearly influencing the acitivity level in the market and next week most Korean yards are closed for summer vacation. We have only one reported contract on the menue this week involving two chemical carriers placed at...
 Read more
Fearnleys Monthly Report
Monthly Bulk Fleet Update
Oil and Tanker Market Quarterly
Dry Bulk Market Quarterly
World Pure Car Carrier Fleet

How do I buy/subscribe See all reports
Subscription publications

Fearnleys Weekly
Activity Level
VLCC: Soft
Capesize: Low
Gas 82,000 cbm: Low
All content copyrighted © 2006 Astrup Fearnley