Tanker Rates Remain in the Doldrums

Friday, December 16, 2011
Returns for VLCCs fell for a third consectutive day to the lowest level in a month, as the supply of vessels exceeded cargo demand, according to a recent Bloomberg report. Daily income for VLCCs on the Saudi Arabia-to-Japan voyage declined 2.4 percent to $11,810, the lowest price in a month, citing the London-based Baltic Exchange. Global demand to ship crude on VLCCs will rise 5.3 percent to 148.2 million dwt this year, according to Clarkson Research Services Ltd., while fleet growth will grow 8 percent.
(Source: Bloomberg)
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural

Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs

Tepco, Chubu Buying 6 LNG cargoes from Vitol

Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender,

Finance

Oil Majors to Preserve Dividends Despite Oil Collapse

Europe's oil majors will strike a sober note in their fourth-quarter results and investors will focus on companies' plans to maintain cherished dividends and

China's COSCO Group Returns to Profit

China Ocean Shipping Group Co (COSCO) returned to profit in 2014 after three years of losses, state media said on Saturday, citing an interview with the group's chairman.

Brent Closes Up, U.S. Crude Down After Saudi King Dies

Brent crude was buoyed on Friday by market uncertainty over the future of Saudi oil output, while U.S. crude fell on more signs of oversupply. Saudi Arabia's new king,

 
 
Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.2125 sec (5 req/sec)