VLCC Tankship Hires at 6-Year High
Bookings of the largest oil tankers jumped to the highest for the time of year since at least 2007 as demand for crude cargoes accelerates before a surge in oil refining projected by the International Energy Agency. reports Bloomberg. According to Bloomberg, who cite Marex Spectron Group, a London-based commodities and freight-derivatives broker. There are still more charters to arrange and it’s the second consecutive month when bookings have been at the highest for the period in Marex data starting in January 2007. The vessels each carry 2 million barrels. The rates increase is helping owners to contend with VLCC earnings that averaged $6,838 a day this year, the lowest since at least 1997, according to data sourced by Bloomberg from Clarkson Plc (CKN) , the world’s largest shipbroker.
Tankship Charter Slump Likely in July 2012
A fall in tankship bookings by China due to stockpiling & slowdown in its economic growth sets scene for probable 10% slump According to Bloomberg, the largest oil-tankers booked to haul 2 million-barrel cargoes of crude from ports in the Persian Gulf are poised to slump to a 17-month low as a slowdown in the world’s second-largest economy curbs oil demand. Charters of very large crude carriers to ship Middle East crude will probably fall by 10 percent from June to 115 shipments this month, the lowest tally since February 2011, Kevin Sy, a Singapore-based freight-derivatives broker at Marex Spectron Group, informed Bloomberg's reporter, Bob Sheridan. Source: Bloomberg
