Chem Tankers Prepare To Carry Gasoline

Monday, September 12, 2005
Stolt-Nielsen and Odfjell, the two biggest chemical tanker operators, are among shipowners switching more of their vessels to carry gasoline to the U.S. to meet surging demand as the International Energy Agency releases fuel from its stockpiles.

The conversions will avert a shortage of tankers to carry additional oil supplied by the agency, Jenkins said. The agency's 26 member nations plan to release 1.97 million barrels of oil a day for a 30-day period, of which 19 percent will be gasoline, the agency said.

A jump in demand for tankers has pushed freight rates to near records after Hurricane Katrina disrupted production in the Gulf of Mexico, prompting oil companies and traders to move fuel across the Atlantic to profit from differences in prices between the regions.

Crude oil makes up 65 percent of the agency's stockpile release, distillates such as gas oil make up 14 percent, and fuel oil makes up 2 percent, the agency said.

(Source: Bloomberg)

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

Tanker Trends

Libya Plans to Sell Ex-rebel Tanker

Libya plans to sell a tanker that a former rebel group used in an attempt to bypass the Libyan government and export oil on its own last year, the Tripoli-based state prosecutor said on Thursday.

G E Shipping delivers “Jag Aakash” to Buyers

The Great Eastern Shipping Company Ltd. delivered the new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt) to the buyers.  The vessel was contracted for sale in August 2015.

Dorian Acquires 2 ECO VLGC

Dorian LPG, an owner and operator of modern Very Large Gas Carriers ("VLGCs"), reported today that it has taken delivery of the ECO VLGC Commodore from Hyundai

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators 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: 0.3282 sec (3 req/sec)