Seatrade Tanker Middle East meet in November

Emirates Business

Riding on the wave of positive
industry news from the tanker shipping market, Seatrade has
announced the return of its popular Seatrade Tanker conference, Seatrade Tanker Middle East. The newly rebranded conference will take place as part of Seatrade Maritime Middle East and Dubai Maritime Week.
Reaffirming the decision, Chris Hayman, Chairman of Seatrade, said: “In light of discussions that we have had with major stakeholders in the industry and general market feedback, I am pleased that we can reintroduce this important theme to the overall programme in the knowledge that the tanker shipping market is continuing to perform well.”
Seatrade Tanker Middle East, which takes place on Tuesday November 1 in the Forum area at Seatrade Maritime Middle East, will be moderated by Katharina Stanzel, Manager Director of INTERTANKO, bringing with her significant industry expertise.
Asked why the tanker shipping market is performing better than other shipping sectors, Mr Hayman commented: “The low oil price has continued to benefit the tanker market in both crude and product sectors.”
“Recent signs of increased demand for crude oil imports in India and China give grounds for optimism. Demand is being generated by the granting of import licences to China’s privately owned ‘teapot’ refineries – a trend that is expected to continue in coming months. Growing near-term OPEC supply and declining US production will support tanker demand by increasing voyage
distances.”
“New refinery development in the region also bodes well for the product tanker sector, and a tight market for finance will act as a constraint on new orders, despite low prices. Meanwhile the return of Iran to the market adds an interesting new dynamic.”
Topics during the half day
conference will include a comprehensive discussion of the fundamentals of the crude oil tanker market and an analysis of the factors influencing the shape of product tanker demand and those driving it, including refining, and the composition of the order book. Delegates will be encouraged to enter discussion with
the panel speakers and a networking luncheon will follow the morning session.