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 September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

Energy

PES to Begin Operating Benzene Terminal in November

Philadelphia Energy Solutions plans to start operating a new benzene offtake terminal next month at its 335,000-barrel-per-day refinery in Philadelphia, two people familiar with the plans said.

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Renewable Energy: Schottel Tidal Turbines Ready For Use

In the last months Schottel  successfully tested its hydrokinetic turbines in Strangford Lough, Northern Ireland. The full-scale tests included 260 operating hours under realistic conditions.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0974 sec (10 req/sec)