Tanker Rates Are

Tuesday, July 25, 2000
Caribbean crude tanker rates shot through the roof as oil poured towards the United States, brokers said. Typical rates for 70,000 ton upcoast U.S. liftings soared past W300 ($12.25 per ton) - up around 20 points on the previous day and about 75 points over a week ago. Increased crude production by Venezuela and Mexico was reportedly causing the spike. Increased VLCC arrivals from the Middle East was also putting pressure on Aframax supply in the U.S. Gulf as the 80,000 ton ships were used to lighter oil to terminals from the two million barrel supertankers. Panamax 50,000 ton rates were also seen crossing the W300 barrier as demand for the smaller vessels was pulled upward by the squeeze on Aframaxes. Pressure on available VLCCs in the Middle East was also pushing rates up again with W95-97.5 seen attainable for modern ships heading to the U.S. (about $16.00 per ton) or Europe.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Navig8, Ocean Yield in Chemical Tanker Deal

Norway’s Ocean Yield has bought eight chemical tanker newbuildings for $306.8m from Navig8 Chemical Tankers Inc, which will lease the vessels back on 15-year   "hell and high" bareboat charters.

FSL Trust Signs Charter Agreement with US Oil Company

FSL Trust Management Pte. Ltd. (FSLTM), as trustee-manager of First Ship Lease Trust, has entered into a two-year time charter agreement with a prominent US

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

Finance

Can Shipping Lines Survive?

The world's shipping lines risk bankruptcy and will have to shed assets in order to stay afloat. The outlook for the global container shipping industry remains challenging for the remainder of 2015,

BMT Partners with Aage Hempel

BMT SMART (BMT),  has announced  that Aage Hempel has become an accredited service partner.  This agreement will provide both organizations with the opportunity

Tanker Backlog Builds at Basra

Ships face up to a three week wait; bad weather in February delayed loading, created backlog. * April intake to be reduced to clear backlog By Keith Wallis SINGAPORE,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Ship Simulators 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: 0.1059 sec (9 req/sec)