Tankers Gain as US Imports Less, China More

Bloomberg
Tuesday, May 15, 2012

Tankship freight rates on the up as global oil trade pattern changes

According to Bloomberg, the U.S. is importing the least in 13 years as China buys more than ever, lengthening voyages for tankers and effectively reducing the fleet’s capacity, government data show.

Very large crude carriers, each hauling 2 million barrels, will earn $40,000 a day this year, 81 percent more than in 2011, said Andreas Vergottis, the Hong Kong-based research director of Tufton Oceanic Ltd., which manages about $1.3 billion of assets.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

VL-exit?

Earlier this week spot returns in the VLCC market touched their lowest level since October 2014, with TCE earnings for Middle East/Japan (TD3) falling close to $20,

RS Rules Conform to the IMO Goal-based Standards

The rules of the Russian Maritime Register of Shipping are in conformity to the International Maritime Organization (IMO)goal-based standards (GBS), the IMO’s Maritime

Asia Tankers-VLCC Rates to Climb Slowly

Around 47 MidEast charters fixed for July loading so far; older tonnage and new vessels a drag on freight rates. Freight rates for very large crude carriers

Finance

VEB Guarantees $3 Bln of Yamal LNG Debt

Russian development bank VEB said on Friday it had provided a guarantee for $3 billion of debt to the Yamal liquefied natural gas (LNG) project, led by Russian gas firm Novatek.

US Oil Drillers Cut Rigs after 3 Weeks of Additions

U.S. oil drillers cut rigs this week for a 20th week this year after three weeks of additions, according to a closely followed report on Friday, as crude prices

World Stocks Tumble as Britain Votes for EU Exit

Global capital markets reeled on Friday after Britain voted to leave the European Union, with $2 trillion in value wiped from equity bourses worldwide, while money

News

HCI Capital Renamed Ernst Russ AG

A vote was passed at the ordinary shareholders’ meeting of HCI Capital AG yesterday to change the company’s name to Ernst Russ AG. The Executive Board and Supervisory

ABP orders Two Gottwald cranes

Terex Port Solutions (TPS) has received an order from Associated British Ports (ABP) for two electric Terex Gottwald Model 8 portal harbour cranes in the G HSK 8424 B four-rope grab variant.

Traffic Separation Schemes off Western Australia

On 1 December 2016 two new Traffic Separation Schemes (TSS) will come into effect off the south-west coast of Western Australia. Australia’s proposal to establish

Vessels

US Navy Accepts Delivery of Future USS Montgomery

The U.S. Navy has accepted delivery of future USS Montgomery (LCS 8) during a ceremony on June 23 at the Austal USA shipyard in Mobile, Ala.   Marking the official

Kiel is First German Port of Call for Mein Schiff 5

The brand-new TUI Cruises newbuilding Mein Schiff 5 has arrived in Kiel – her first German port of call since being handed over in Turku, Finland, a few days ago.

ST Marine Delivers 4th Patrol Vessel to Oman

Singapore Technologies Marine Ltd (ST Marine), the marine arm of Singapore Technologies Engineering Ltd (ST Engineering), has held the Interim Acceptance ceremony

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.1159 sec (9 req/sec)