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

Tanker Trends

Tanker Retrofitted with Dual Fuel Engine

Caterpillar Marine informs it has begin a dual fuel engine retrofit conversion onboard the 472-foot Fure West tanker, owned by Furetank Rederi A/B. The MaK M 43

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

Ondimar Firms Order Suezmax Quartet at Navantia

Navantia and Maritime Transport Ondimar LDA (shipping company Ibaizabal Group) today ratified the contracts signed in late June and the financial structure for

Energy

CWind Joins National Workboat Association

Citing crew transfer services as an integral part of its offering, offshore wind industry service provider CWind announced it is now a member of the National Workboat Association (NWA) of the U.

First Vessel of New Rescue Class Launched

Global shipping and energy services firm, Craig Group, has launched its first F-Class vessel, the Grampian Fortress. The IMT 958 multi-role emergency response and

BG Group Starts up Sixth FPSO in the Santos Basin

BG Group announced first oil from the Cidade de Itaguaí floating, production, storage and offloading (FPSO) vessel, the sixth unit to start production across the

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Salvage Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.2498 sec (4 req/sec)