Too Many Tankships Vie for Persian Gulf Cargoes

Bloomberg
Wednesday, August 15, 2012

A surplus of tankships seeking Persian Gulf cargoes curbs earlier charter rate increases.

There are 20 percent more very large crude carriers for hire over the next 30 days than there are cargoes, according to the median estimate of seven shipbrokers and owners (TANKER) surveyed by Bloomberg News. A week ago, the excess was 16.5 percent.

The cost of chartering the ships fell to 36.58 Worldscale points yesterday, snapping six days of gains, according to data from the Baltic Exchange in London. The ships are losing $4,648 daily, according to the bourse, whose calculations don’t take account of speed alterations that can boost the vessels’ earnings by lowering their fuel consumption.

Source: Bloomberg

 

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

News

SAAM SMIT Towage Brazil Signs on with Helm

Helm Operations has signed on Brazilian harbor services company SAAM SMIT Towage to its Helm Marine Operations software to manage its billing and dispatch.    SAAM

Siemens Wins Vessel Electrical Installation Contract

Nautilus Minerals Inc. announces that the order for the supply of the entire electrical installation for the production support vessel has been awarded to Siemens International Trading (Shanghai) Ltd.

Delivery Begins for HMS Prince of Wales Bridge

The bridge section of the U.K.’s second Queen Elizabeth Class aircraft carrier has been loaded out of its dock hall in Glasgow ahead of its first sea voyage to Rosyth.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage 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: 0.1322 sec (8 req/sec)