Too Many Tankships Vie for Persian Gulf Cargoes

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 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,


Nakilat Damen Shipyards Qatar JV is 5

On 23 November 2015, Nakilat Damen Shipyards Qatar celebrated its first 5 years of operation. With 40 vessels delivered or under construction, the yard has proven

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.

Wärtsilä's' Digital Services for Performance Enhancement

Wärtsilä, a global leader in complete lifecycle solutions for the marine and energy markets, launches a new service portfolio, Wärtsilä Genius services to help

Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Pod Propulsion Salvage Ship Electronics 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: 0.0812 sec (12 req/sec)