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Fellow panelist Patrick Rodgers was quick to agree. “Every ship ordered now is net fleet growth, this is not just a seasonal pick-up,” said the Euronav CEO. “One wrinkle is that there’s a big order lined up for next year, but that will be offset by the incoming International Maritime Organisation’s legislation in 2020. The new capacity can be absorbed quite easily as long as dynamic growth keeps coming.”

“We can’t out build the market for the next 2.5 years,” said GasLog CEO Paul Wogan, alongside Kremin on the LNG panel. “If we don’t overbuild into this plateau market, then it will stay very good, but when we do overbuild, we will kill it, so let’s not overbuild on speculation or we’ll just ruin it in the next three to four years.” The magnificent seven: Panelists during the Dry Bulk session were optimistic on the next two-to-three years ahead but later disagreed strongly on the role of scrubbers as part of the clean-up process in the run up to a raft of environmental legislation coming online in 2020. Source: Nordea Markets

But, despite those well-founded fears, it was difficult to suppress the genuine buzz of excitement among the industry even allowing for the impact of presidential tweets, the ups and downs of the Baltic Dry Index, the US-China trade war or a global manufacturing slowdown. on q gas station okc Participants stressed again and again that there is a timeframe up to 2021/22 that offers the chance to make hay.

“the only thing that is stopping China now is infrastructure, not demand for LNG,” he said, in a lively debate on the prospects ahead for the industry in a cleaner-fuel environment. “There’s a lot of talk about supply coming into China through the Russian and central Asia pipelines but it didn’t really work last year and by the time you apply all the various tariffs, it was not particularly competitive either.”

It’s an enticing prospect for LNG transporters with a likely proliferation in floating regasification storage units (FRSUs) ahead, not only for China but also for India when it gets its act together, the panelists said. electricity for dummies pdf And as environmental and ESG concerns crystallise, that move towards cleaner fuel and away from dirtier fossil fuels like coal, they said, could only become more central to shipping strategies, benefiting above all those companies aligned with and ready for the raft of regulations coming online in the next few years.

“I think 2019 could be the year of the dark horse,” said Roberts. “If we keep prices reasonably in range, if refinery turnarounds next year are not too extreme and we see an easing of congestion in ports by the middle of 2019, then we’re looking good. At the moment, shares are low but that’s because of all the anxiety on the macro scale. electricity cost per month We’re well balanced and well structured and the important thing in this industry is to make sure you are a survivor because, in the long term, the returns are good.”

“We’ve been overdue a shipping clean-up act,” he said, during the tanker panel. “We’ve gone with scrubbers for two-thirds of our fleet and while we’re neither for or against, it is just an economically interesting way to comply with the rules. Everything is uncertain at this point but we think the chances are with large tankers that the pay back could be quite attractive. We are definitely in.”

“We believe in the future of oil and gas and in 50 or even a 100 years, they are still going to be big business,” said Hanssen. “But if you want to invest in this business long term, it is gas that you should be really thinking about. electricity font There is a significant difference between gas and oil and the gas market is not one global market and one price. In the US, gas is produced as a by-product of oil and sells at about 25% of the price in Europe piped from Norway or Russia.”

“I don’t believe we can reach climate goals through government alone,” she added, rounding off with a return to the environmental debate. “We will be driven by technology and we might suddenly pivot into being something else.” Climate change: Environmental concerns were a running theme throughout Nordea’s 11th annual shipping seminar in London on December 5 . electricity voltage in germany Source: Raffi Maghdessian/Aurora Photos/gettyimages Related research:

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