Spot Rates Rise

Friday, August 10, 2001
Average July 2001 tanker spot freight rates slightly up from June The average spot freight rates (time charter equivalent rate) for VLCCs (trading AG-Japan) went up to USD 21,624 per day for a modern vessel; this is up 12.7% from the average of June 2001. The corresponding rate for a modern Suezmax trading West Africa to US went up to USD 30,125 per day or up 28.7%. For a modern Aframax tanker trading North Sea to UK/Cont. the average rate for July 2001 was USD 29,511, up 67.5% from the low level obtained in June. The average monthly rates for these three trades had been steadily declining from March to June 2001. - (Source: INTERTANKO)

Offshore

GoM Operators Evacuating Ahead of Storm

Offshore oil and gas operators in the Gulf of Mexico are evacuating platforms and rigs in the path of Tropical Depression No. 9.   The Bureau of Safety and Environmental

New Offshore Gangway Launched at ONS

The new Barge Master Gangway will be presented at the joint booth of Barge Master and Bosch Rexroth during the international offshore trade exhibition ONS (Offshore Northern Seas) in Stavanger.

Russian Shipbuilder Signs $1 bln Oil Rigs Contract with Iran

Russian shipbuilder Krasnye Barrikady and Iran's Tasdid Offshore Development Company (TODC)  have signed a deal worth $1 billion to build five offshore drilling

Tanker Trends

NASSCO Christens LNG-ready Tanker Constitution

On Saturday, August 27, shipbuilders at General Dynamics NASSCO celebrated the christening and launch of the Constitution, the sixth ship in a series of eight eco-friendly

Veg Oils Can Benefit Tankers

A number of product tankers, with certain characteristics, can carry edible oils (also called veg oils) as well as oil products, meaning that veg oil trade should

Worldscale Flat Rates to Fall Again

The concept of Worldscale is not an easy principle to grasp, particularly for those outside the tanker industry, says Weekly Tanker Market Report by Gibson.   The

 
 
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