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Shipping industry: Going through tough times
Dec 21:   The shipping industry is going through a period of intense turmoil.
The following are some of the highlights
Asset Prices:
8VLCC 5 yr old prices have gone down by 25% in Y-O-Y Q32016
Freight rates:
8BDTI almost doubled since August 2016 & BCTI up around 50% from lows of 346 in October 2016 to 505 in December 2016
Crude Market::
8Crude oil supply increased due to record production levels by various OPEC and few Non-OPEC nations.
Product Market:
8Refinery runs low due to low refinery margins and extended maintenance resulting in stock drawdown. LR Freight rates remain low as long haul Naphtha arbitrage into Asia was non-existent.
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