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NOTOS NEWS | MARITIME WEEKLY 13.10.2019

PANIC IN CRUDE TANKER MARKETS
What a week: Crude tanker stocks continued their strong performance and gained more than 20% w-o-w on average. Product tanker stocks followed swiftly with a plus of 'only' 14%. Even the long time underperforming LNG stocks jumped by more than 10% on average. The typhoon in Asia, scrubber retro fittings, Chinese sanctioned VLCCs and LNGCs, Iranian tanker attack and Venezuela sanctions came all together to form a 'perfect storm' for the oil & gas carrier markets.

The upcoming winter season and continued IMO 2020 anxiety completed the picture. VLCCs were reported to achieve TCEs of more than USD 300k per day. There are rumors in the market that an owner even canceled his scrubber docking to do an extra voyage, instead. The market for propane/butane carriers continued its strong gains, as well. TCE rates for VLGCs are currently above USD 70k per day, which means very healthy cash flow for the owners.

Our two trading strategies 'Calima' and the 'Notos Maritime Strategy Note' were able to achieve 14% and 9% w-o-w, respectively. Both strategies are overweight in LNG and LPG. 

Our sentiment index is still well above the zero-line, indicating a continued positive environment for shipping stocks.


 


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This document has been prepared and approved by Notos Consult GmbH and is for informational purpose only. The information presented in this report is intended for the recipient to whom it was delivered. Reproduction or distribution of this document in whole or in part is not permitted without the express written consent of Notos Consult GmbH.

This document contains forward-looking statements. We caution the reader that forward-looking statements are not guarantees of future performance. Past returns are no indication of future returns. The development of the industry, 
markets, and companies described in this document may differ materially from the forward-looking statement contained herein.

Information and opinions contained in this document have been compiled from sources believed to be reliable. Unless otherwise stated, any statements herein are based on our own estimates at the time of publication. Notos Consult GmbH makes no representation as to the accuracy or completeness of any of the information contained herein and accepts no liability for loss arising from the use of the information provided. 

This document is not an offer of any kind. This report has been prepared separately from any proposed offering of any security and as such information herein must not be relied upon as having been authorized or approved by the issuer of such security.

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