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Tanker Trends News

31 Mar 2000

Tanker Trends

Strong demand for VLCC tankers in the Middle East failed to create a massive breakout in rates, but owners were happy as bunker fuel prices continued to fall, brokers said early last week. Expectations that a lack of modern tonnage would hike rates for mid-April oil major-approved vessels failed to come true. An Exxon cargo for Singapore lifting from three Mideast ports finally got done at the going rate of W77.5 (about $5.00 per ton) after early week offers of W100 had excited dreams W87.5 ($5.50) could be achieved. Other eastern rates held ground or crept up with the average for Japan W77.5 ($8.50 per ton) and W75 ($7.00) for South Korea. Western prices also inched up to around W65 ($11.25 per ton) for the U.S. Gulf while Red Sea fixtures achieved W72.5-75.

12 May 2000

Tanker Trends: Markets Lose Steam During Asian Holidays

Tanker markets cooled as Asian holidays took the steam out of recent strength, but some brokers saw it starting to simmer again last week. Holidays in Japan and Korea this week coincided with the end of most charterers' May programs, brokers said May 5. Approximately 18 VLCC fixtures of five million tons were reported in the Middle East Gulf, down from 22 of six million tons the week before, according to broker E.A. Gibsons. "However, there was sufficient momentum in the market to maintain rates at their previous levels," Gibsons said. With modern tonnage remaining in tight supply it was reasonable to expect rates to stay at current levels or even improve over the next few weeks, it added.

11 Mar 2003

Tanker Trends: ATB Construction Forges Ahead …. Just Not at Torrid 2002 Pace

Construction of Articulated Tug Barge units (ATB) continues to occupy a prominent place in the order books of several shipyards. However the pace of current building and back ordered units is not as high as the 2000-2002 period. "It looks like we are in for a little 'breather' for a while," said Allen Craft, senior vice president of Intercontinental Engineering-Manufacturing Corporation, Kansas City, Mo. The company manufactures Intercon, one of the most popular couplers between the tug and the barge, which makes the ATB concept workable. "Vessel Management Services, a division of Crowley Maritime was a major driving force in this market when they had two different yards each built two ATBs with 9,280 hp tugs and 155,000 barrel barges using our couplers," Craft said.

10 Sep 1999

Seaonal Surges Not Enough To Lift Rates From Depression

Sustained strong oil demand growth is required to lift product tanker freight rates out of their current depressed levels, shipbroker Simpson Spence & Young said in a new report. Temporary seasonal surges could be seen in rates but it would take until the northern hemisphere winter of 2000-2001 before the sector experienced a sustained rise in earnings, SSY said in its latest half yearly World Oil tanker Trends report. "The only factor that can lift the product trade out of the gloom is sustained and strong oil demand growth," SS&Y reported. Positive signs were seen in current global oil demand, SS&Y said, but a bloated vessel orderbook precluded near term recovery.

17 Mar 2000

Tanker Trends

Freight rates for crude tankers loading early April in the Middle East were climbing early last week as shipowners held out for higher prices in expectation of heavy vessel fixing, brokers said. VLCC rates to the U.S. Gulf were expected to rise five or more Worldscale points to W62.5-65 ($10.75 per ton) for the next done fixture, some brokers said. Japan shipment prices were also lifting with the latest bookings at W70 ($7.50 per ton), up from W67.5 in the week before. "We believe this week will be heavy for one reason alone, there will be placement of barrels West to alleviate the shortage that the U.S. market is stressing," broker Marinav Shipping & Trading forecast in its March 13 report.

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