“Old Ship” Fears Drive Tanker Markets Higher

Tuesday, February 15, 2000
North Sea crude markets held steady mid last week, as a combination of high freight rates and absences at industry functions subdued trade. Dated Brent was assessed near last deal done at April Brent +95 cts, with Brent CFD swaps for this week also in that area. Next weeks CFDs are seen around April Brent +90 cts. Institute of Petroleum week in London is keeping trade to a minimum, as are high freight rates caused by an exodus of older vessels out of Europe in the wake of the Erika spillage off France. Worldscale rate increases of up to 45 percent for North Sea trading Aframax tankers to W200 have been confirmed this week as big oil companies are not prepared to take the risk of chartering old ships. West African crude differentials were steady to lower amid very thin trade. Late last Monday, a Qua Iboe cargo for March 9-10 dates was sold at 32 cents under dated Brent, some 10 cents lower than Monday's assessments.
Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

First LNG Shipment from Donggi Senoro in Indonesia

Indonesia’s $2.8 billion Donggi-Senoro LNG project has shipped its first cargo of the chilled gas on August 2, Mitsubishi Corp, which holds about 45 percent of the project, stated.

Nantong Tongbao Bags Order for 8 Chemical Tankers

Nantong Tongbao Shipbuilding has signed shipbuilding agreements with joint buyers, Shanghai Dingheng Shipping and Xiamen Xiangyu Group, for the construction of

Ross is Fleet Manager, Heidmar

Heidmar announced the promotion of Duncan Ross to Fleet Manager. Duncan joined Heidmar’s London office in 2012 as vessel manager.  Prior to joining Heidmar,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Ship Electronics Sonar
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: 0.0896 sec (11 req/sec)