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)

Technology

NOAA Engineers a Better Current Sensor for Mariners

Navigating into seaports is now safer and more efficient for mariners thanks to improved NOAA technology that ships rely on to give them information about currents.

SMM 2016: World Premieres from around the Globe

Some 50,000 trade visitors from the whole of the world are expected in Hamburg for the start of SMM in less than two weeks. And once again, it is fully booked – with a total of more than 2,

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Tanker Trends

Hellenic Petroleum Profits Rise on Higher Exports

Hellenic Petroleum, Greece's biggest oil refiner, posted a 20 percent rise in second-quarter core profit on Thursday, with higher exports offseting lower refining margins.

Alfa Laval Launches DuroShell LPG/E Cargo Condenser

With the new Alfa Laval DuroShell plate-and-shell heat exchanger, Alfa Laval aims to strengthen its offering in LPG/E cargo reliquefaction with a construction that

Navy Discovers Malaysian Tanker

Indonesia's navy has found a tanker carrying almost US$400,000 worth of diesel that was taken by its own crew last week due to a commercial dispute, says a report in AFP.

 
 
Maritime Careers / Shipboard Positions Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Repair Shipbuilding / Vessel Construction 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: 0.0722 sec (14 req/sec)