Drydocks World hosts INTERTANKO Team
Drydocks World received a high-level delegation of the Council members from the International Association of Independent Tanker Owners (INTERTANKO) on 11 November. The delegation included Mr. Olav Eek Thorstensen, MD & CEO of Thome Shipmanagement, Ms. Ann-Marie Astrom, Vice Chairman of the Rederi AB Gotland. The delegation also included members of the board: Mr. Derya Sabaz, COO / Co-owner of v Besiktas Likid AS, Mr. Takis E. Koutris, Managing Director of Roxana Shipping SA, Mr. Tim Horne, Managing Director of Teekay, Mr. Wellington Koo, Executive Director of Valles Shipping and Mr. Erik Ranheim, Staff Member of the International Association of Independent Tanker Owners (INTERTANKO). The delegation met senior management and operational figures in the Drydocks World group, led by Eng.
Intertanko Meetings In Athens
INTERTANKO's Executive Committee and Council Autumn Meetings will take place in Athens 24-26 October 2001. In conjunction with the meetings, INTERTANKO will be hosting an Open Market Seminar on Wednesday, 24 October. Consultancy and Research Ltd. will speak on tanker investments. about oil trade developments in the Black Sea and Caspian region and the consequences of the new pipeline from Baku to Ceyhan. Martin Stopford, H. Clarkson & Co. Ltd. will concentrate on strategic issues in the tanker market against the background of recent events. Finn Engelsen jr, Lorentzen & Stemoco will present prospects for the product tanker market and Jarle Hammer, Fearnleys AS will concentrate on trade developments in the tanker market. Erik Ranheim, INTERTANKO, will introduce and moderate the seminar.
Freight Rates To Fly High In Coming Years
The U.S. will become more dependent on tanker-borne petroleum imports in coming years, coinciding with a ship shortage which will push freight costs sharply higher, energy and tanker analysts said on Wednesday. "Products imports are playing a bigger swing role in the U.S. than ever before," Paul Horsnell of Oxford Institute of Energy Studies said. "They're becoming a structural feature of the U.S. Horsnell told members of the tanker owners' organization Intertanko, which met in Sydney this week, that each year was now expected to bring a fourth quarter surge in demand for fuel oil imports -- a trade usually served by Panamax 50,000 tonrs. U.S. demand for gasoline imports would surge each spring. Intertanko research head Erik Ranheim said U.S.
Tanker Phase-out, Orderbook Size Profiles Differ
The size distribution of tankers 5,000-80,000 dwt to be phased out of the oil trades according to MARPOL 13G is quite different from the size distribution of the orderbook, said INTERTANKO's Manager of Research and Projects Erik Ranheim at the Lloyd's List's 7th Product Tanker Conference in London this week. There are about 28m deadweight tons of single-hull tankers 5,000-80,000 dwt to be phased out - including single hull and double bottom/side petroleum tankers and oil/chemical tankers, but excluding chemical tankers. The orderbook in this size range is about the same size. However whereas some 63% of the fleet (in tonnage terms) to be phased out consists of smaller tankers below 30,000 dwt, only 32% of the orderbook (in tonnage terms) is in this size range.
