Caribbean Tanker Rates Rise

Wednesday, May 16, 2001
Scant supply of suitable tankers combined with a seasonal upswing in demand has conspired to force up the cost of shifting gasoline from Caribbean refineries to the U.S Atlantic coast, brokers said. "The market's definitely picking up from a month ago when refinery maintenance was still going on, and now it's coming up to the regular season," said a U.S. broker. London brokers said the market had risen by at least W40, or $1.56 per ton, since last Wednesday. "Not much has been done this week, but then there aren't many ships about either. There's not too many SBT ships about," said the U.S. broker. SBT ships are a type of tanker in high demand because they are designed to offer more protection against accidental spillage than normal single-hulled tonnage. The broker said most of the cargoes being moved at the moment were gasoline, but there was also some jet, pegging the 30,000-ton trade at W325 ($12.64 per ton) and the 40,000-ton trade at W265 ($10.31 per ton). London's Baltic Exchange pegged the benchmark 30,000-ton trade at W331 ($12.88 per ton) on Tuesday, while London broker SSY's estimate was over W340 ($13.23 per ton). This represents an increase of $2.34 per ton in the last three weeks and an increase of $3.70 per ton in the last two months. London brokers said BP had paid $12.84 per ton to shift 30,000 tons of cargo upcoast this week on the Andoas, while Citgo had paid $10.11 to shift 40,000 tons of cargo upcoast next week on the Kriti Amethyst. - (Reuters)
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Technology

Clean Marine Wins New Contract

Clean Marine has been selected by Hyundai Mipo Dockyard in South Korea to supply exhaust gas cleaning systems (EGCS) for two new MR tankers. IMO’s convention

Wärtsilä Steerable Thruster Gets Class Approval

DNV-GL approved the design of the Wärtsilä WST-14 thruster, significant as approval was granted based on a thruster design that has yet to be introduced into full series production.

New Oil Field Found in British North Sea

GDF SUEZ E&P UK Ltd and BP today announced a new exploration discovery in the UK Central North Sea. The discovery, which spans GDF SUEZ operated block 30/1f

Tanker Trends

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

WFW Advises ING Bank on $340m Loan Facility for Euronav

Watson, Farley & Williams (WFW) has advised ING Bank N.V. (ING) as sole bookrunner and facility agent for a syndicate of banks on a $340 million loan facility made available to Euronav NV.

 
 
Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1540 sec (6 req/sec)