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

Bloomberg.com
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.

Bloomberg.com
 

Maritime Reporter October 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Scanjet Secures 30-ship Tank Management Order

Scanjet Group has followed up its Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Odfjell Finalizes LPG/Ethylene Joint Venture Deal

Following Odfjell SE’s May 16, 2014 announcement declaring the signing of a definitive agreement to form a LPG/E shipping joint venture, Odfjell today announced

Scanjet Bags Multiple Tank Management Orders

SCANJET Group has followed up its breakthrough Tank Management order from Stolt-Nielsen with a series of contracts for its ITAMA Intelligent Tank Management concept including Tankcleaning,

Energy

Leak May Sideline New Mexico Nuclear Waste Site

It may be five years before a nuclear waste dump in New Mexico closed by a radiation leak is fully operational again, and the facility will need at least $240

Imperial Oil Completes Maintenance at Kearl Oil Mine

Imperial Oil Ltd said on Tuesday it has completed a two-week major maintenance turnaround at its 110,000 barrel per day Kearl oil sands mine in northern Alberta.

Swissco Doubles Rig Fleet

SGX Mainboard-listed Swissco Holdings Limited an integrated, international marine services provider, today announced having completed the acquisition of four additional mobile offshore drilling units,

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1059 sec (9 req/sec)