Exxon Books Tankers to U.S. at Lowest Rates of 2013

Wednesday, April 24, 2013

Exxon Mobil Corp. booked two tankers to haul oil to the U.S. Gulf Coast via the Suez Canal in May at what may be this year’s lowest rates, a shipbroker told Bloomberg.com.

“The very large crude carriers, each able to haul 2 million barrels of oil, will load in the Persian Gulf on May 7, Athens- based Optima Shipbrokers Ltd. said in an e-mailed report today,” Bloomberg.com reported. “The ships were chartered at rates of 15.75 and 16 industry- standard Worldscale points, it said. Those would be the lowest levels so far in 2013 for the route, according to figures compiled by Bloomberg.”

Hire costs for tankers shipping crude from the Middle East to the Gulf Coast continue to drop and are now down 26% from the start of 2013.

Clarkson Plc (CKN) found VLCCs built in 2010 and carrying oil to the U.S. from the Middle East were losing $2,140 a week on average as of April 19, while the ships were earning $31,227 a year earlier.

Hire costs for VLCCs on the benchmark Saudi Arabia-to-Japan journey were little changed today, figures from the Baltic Exchange showed. The ships’ daily losses widened to $714 from $254 on April 19.

“The exchange’s assessments don’t account for owners’ efforts to improve returns by securing cargoes for return voyages or reducing speed to burn less fuel. The price of fuel, or bunkers, the industry’s main expense, fell 1.4% to $599.88 a metric ton today, figures compiled by Bloomberg from 25 ports showed.”

Bloomber.com also noted that the Baltic Dirty Tanker Index added 0.6% to 638, according to the exchange.


Maritime Today

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

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,


ESL Shipping to Enter the Renewable Energy Market

ESL Shipping and AB Fortum Värme have signed an agreement for biofuel transport. The agreement provides ESL Shipping with access to the renewable fuels transport market.

Deltamarin to Designs First LNG Handysize Bulk Carriers

Deltamarin Ltd proudly announces that it has signed a contract to design the world’s first LNG handysize bulk carriers, which will point the way towards greener shipping of commodities.

Asia Fuel Oil-Cracks, Spreads Tight; Bunker Prices Climb

Asia's fuel oil crack for benchmark 180-centistroke rebounded to a discount of $6.79 a barrel on Wednesday, gaining as bunker prices firmed on the possibility of

Maritime Careers / Shipboard Positions Maritime Security Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0723 sec (14 req/sec)