Market outlook for the aframax sector from 2010 to 2015

• Main Author: Chan, Xian Ming.
• Other Authors: School of Civil and Environmental Engineering
• Format: Final Year Project
• Language: English
• Published: 2011
• Subjects: DRNTU::Engineering::Maritime studies
• Online Access: http://hdl.handle.net/10356/44939
• Institution: Nanyang Technological University

This research paper presents the usage of both univariate and sensitivity analysis techniques to determine the outlook for Aframax tankers in the Indo-Pacific for the next five years, by analyzing both demand and supply of Aframax transportation. Demand of Aframax transportation is affected by world economy and trading pattern between countries and regions whilst supply of Aframax transport is determined by fleet size, affected by the number of new deliveries and demolitions. Demand for Aframax transport in the Indo-Pacific is expected to increase due to strong economic growth, development of Strategic Petroleum Reserves and refinery activities in the region. Despite the increase in oil demanded, supply of crude oil has been decreasing due to reduced oil production and an increase in domestic oil consumption by main oil exporting nations in the Indo-Pacific. This leads to a reduction in intra-regional oil trade and a reduction in Aframax transport.