Will There Be An Oil Tanker Shortage?

Wednesday, September 13, 2000
Kuwait's finance minister said it was unclear whether there would be enough crude oil tankers to lift additional supplies if producers bowed to consumer pressure for another rise in output. "(Industrialized nations) are asking for a production increase without knowing if there are enough tankers to lift the additional crude," Al-Watan newspaper on Wednesday quoted Finance Minister Sheikh Ahmad al-Abdullah al-Sabah as saying. Sheikh Ahmad added that Western nations were wrong to blame the Organization of the Petroleum Exporting Countries for high oil prices. "We are not the reason behind the high rise in oil prices, but the reasons are psychological, a rise in demand and the inability to market (products)," he said. The minister said that despite the rise in revenues for the OPEC member, Kuwait will continue to keep its spending in check. Kuwaiti crude has averaged above $26 a barrel since the start of the current July-March fiscal period, compared with $13 a barrel used to calculate budget revenues.
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ship Repair & Conversion

All-electric Tube Benders Take a Step Forward

The tube bending machine innovator Unison said it is moving the technology forward again, with the completion of a groundbreaking all-electric machine that is capable

Construction Begins on Chouest’s B-Port

Sprawling facility located in Açu Port in São João da Barra, Rio de Janeiro-RJ, Brazil Officials representing the Edison Chouest Offshore family of companies

MN 100: VT Halter Marine, Inc.

900 Bayou Casotte Parkway Pascagoula, Mississippi 39581 Telephone: 228 696 6888 E-mail: sales@vthm.com Website: www.vthaltermarine.com CEO: William (Bill) E.

Tanker Trends

Navios Charters Out Newbuild MR2 Product Tanker

Navios Maritime Acquisition Corporation (Navios Acquisition), an owner and operator of tanker vessels, announced that the Nave Luminosity, a newbuilding MR2 product tanker of 49,

Ingram Barge Order 20 Tank Barges for 2015

Ingram Barge Company say they will be building 20 tank barges in 2015 to meet growing demand for chemical shipments. While most of the company’s recent tank barges have come through acquisitions,

Finland Grants Support to Three Small LNG Terminals

The Finnish government granted 65.2 million euros (84.22 million US dollar) in subsidies to build three small liquefied natural gas (LNG) terminals to cut on use

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1169 sec (9 req/sec)