OPEC Output Cut May Hit Shipping

Friday, December 19, 2008

According to a report from The Economic Times, the Indian shipping industry is concerned with the steady fall in crude oil prices and is waiting for the outcome of an important upcoming OPEC meeting. Industry officials feel that if Organization of the Petroleum Exporting Countries (OPEC) cuts production further, tanker rates could go into free fall, delivering a body blow to the domestic shipping industry that has half of its fleet in tankers. Tanker rates have already more than halved in the past one year.

(Source: The Economic Times)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Strong Tanker Market Extends Peak Season High Earnings

Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | 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: 0.1035 sec (10 req/sec)