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Rs Platou Shipbrokers As News

13 Jul 2000

International Ship Valuation Panel Formed

An International Ship Valuation Panel has been created to provide service to the maritime community by offering the all-encompassing opinion of ship values from four long-time established international ship brokerage firms. Comprised of Barry Rogliano Salles, Paris; Clarksons, London; Jacq. Pierot Jr. & Sons, N.Y.; and R.S. Platou Shipbrokers, Oslo, the panel will offer an alternative to individual valuations that will be especially significant in more complex cases, such as purchase options/obligations, public offerings, fleet mortgages and disputes between parties.

07 Jun 2002

World Shipbuilding to Fall Slightly

Last year was an active one for the international shipbuilding market. Although the order intake was significantly reduced from the order boom of the previous year, 46 million dwt, or 31.3 million compensated gross tons (cgt) of new ships were ordered. Part of this can be explained by the order mix of tanker tonnage. While large tankers were ordered last year, the average size this year declined from 130,000 dwt to 91,000 dwt, resulting in a higher cgt figure. Total delivered from yards building tonnage larger than 30,000 dwt increased from 24.7 million cgt in 200 to 27.6 million cgt in 2001. At the beginning of the year, very few slots were reported to be available in Japan and Korea for 2003 delivery. During the year several slots which had previously been committed became available.

07 Jun 2002

Tanker Market is Solid

The year 2001 must be described as a very healthy year for tanker owners. Although it is a fact that freight rates for all tanker types have fallen substantially and continuously through the year, the average rates for the year have been quite strong. For product tankers of various sizes, 2001 was even better than 2000. Rates for medium sized crude carriers were moderately weaker, while for VLCCs they dropped significantly. Despite declining freight rates for crude carriers, the profitability for all tanker was, for the second consecutive year, remarkably high. Modern VLCCs started the year at an incredible $70,000/day on the spot market. Almost immediately, however, the declining trend set in which was to last all through the year except for a brief upturn in September.

10 Dec 1999

Strong OPEC Discipline Continues Rate Depression

As a consequence of low crude oil volumes out of the Middle East - caused by OPEC restrictions and Iraq's stoppage of exports after rejecting to extend the "Oil for Food" program - tanker rates have been at very low levels, with older VLCCs being obtained at only $2,000-$4,000 a day and modern vessels being fixed at $12-$14,000 a day, according to the November monthly report issued by R.S. Platou Shipbrokers a.s. In addition to the low volumes, there has also been a shift toward eastern destinations, resulting in a sharp drop in transport distances. The recent build-up of oil stocks in tankers has not compensated for the negative trend in VLCC transportation demand, the report said. Because of this situation, tanker owners must wait for OPEC to ease production restrictions.

28 Jan 2000

Shipping Markets Lag Behind Despite Economic Upswing

Global economic activity proved to be stronger that expected in 1999, according to the monthly report by R.S. Platou Shipbrokers a.s. Most crisis-ridden Asian economies recovered strongly, and the U.S. economy expanded by about four percent for the fourth consecutive year. In Japan the recovery has come earlier and has been stronger than anticipated. In the European Union growth weakened, but is now gathering strength. World Total output rose from 2.2 percent in 1998 to three percent in 1999. Normally, such a growth should have given much more impetus to seaborne trade than we actually experienced, due to substantial stockdrawing of oil as well as dry bulk commodities.