Serial_Worrier wrote:This doesn't make sense, the tankers have limited fuel. They can't idle around forever.
3aidlillahi wrote:I don't think that they consume much. Water transport is very energy friendly - even for supertankers.Serial_Worrier wrote:This doesn't make sense, the tankers have limited fuel. They can't idle around forever.
Serial_Worrier wrote:This doesn't make sense, the tankers have limited fuel. They can't idle around forever.
ReverseEngineer wrote:It seems to me that lots of Super Tankers puttering around with Full Tanks and nowhere to go would be Sitting Ducks for Pirates.3aidlillahi wrote:I don't think that they consume much. Water transport is very energy friendly - even for supertankers.Serial_Worrier wrote:This doesn't make sense, the tankers have limited fuel. They can't idle around forever.
ROCKMAN wrote:In the oil patch we would call them "promoters". They risk other people's money to make their profit. At least speculators risk their own money .
Drop in crude tanker demand
Maritime
January 19, 2009
DEMAND for crude tanker shipping is expected to contract by 13% this year as the Organisation of Petroleum Exporting Countries (Opec) cuts oil production.
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It said this would reflect an excess supply of 47.8 million dead weight tonnes (dwt) or 160 very large crude carriers (VLCC).
The Baltic Dirty Tanker index (BDTI) could fall as much as 51% year-on-year (y-o-y) to just 750 points or lower.
The BDTI is the average rate on dirty tanker routes. Large tankers generally carry “dirty” (black oil or crude oil) cargo as opposed to clean tankers that ship refined products such as petroleum, diesel fuel, jet fuel or chemicals.
The most recent cut in Opec production quota by 2.2 million barrels per day came into effect on Jan 1 but most likely had not been implemented in full, suggesting that tanker rates would see more pressure ahead, the report said.
“We conclude that Opec production cuts alone are enough to force VLCC and suezmax tankers demand for this year to fall as much as 13% y-o-y, while aframax tanker demand could fall by 9% y-o-y,” it said.
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Armed men in speedboats have abducted a Romanian crew member after an attack on an oil tanker off Nigeria's southern coast, security sources say.
The MT Meredith, loaded with 4,000 tonnes of diesel, was badly damaged in the attack early on Wednesday.
"The ship called for assistance as its engine and superstructure were reported to have been seriously damaged," a private security source, who asked not to be named, said.
The Movement for the Emancipation of the Niger Delta (Mend), which wants greater autonomy for the region, claimed that an "affiliate group" carried out the attack.
"This recent attack should send a clear message to the oil companies that even with the four Mantra class seaward defence boats and two Augusta helicopters acquired by the navy, the only thing that can stop attacks is justice," a Mend statement said.
"Mend is in touch with the group and will ensure the abducted man is released unharmed at the earliest convenience."
"Mend is in touch with the group and will ensure the abducted man is released unharmed at the earliest convenience."
This recent attack should send a clear message to the oil companies that even with the four Mantra class seaward defence boats and two Augusta helicopters acquired by the navy, the only thing that can stop attacks is justice," a Mend statement said.
Interfector wrote:I wonder if the Somali naval wealth redistribution unit will capitalize on this opportunity as well.
Shipping investor Nobu Su plans to offer his fleet of 20 supertankers to speculators to store crude and bet that prices will appreciate later in the year.
Su’s Taipei-based company, TMT Co. Ltd., will lease out its 2 million-barrel vessels at below-market prices in return for a share of any profit from the trade on the oil. His fleet, able to hold enough crude to supply Europe for two days, is available for immediate hire, he said.
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