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The Saudis rushed to book supertankers, on top of their own fleet, to send record high volumes of crude oil to the most transparent market, the United States, and its …
(Bloomberg) -- The market for moving oil across the world's oceans is currently so bad that owners of the industry's biggest supertankers are actually subsidizing the delivery of cargoes.
Iran's biggest oil shipping company has amassed the world's largest fleet of super tankers and is in talks to sail back into western waters should the Islamic Republic strike a nuclear deal ...
Storing oil on supertankers is far from cheap. A six-month contract can cost anywhere from $50,000 to $150,000 a day depending on the type of …
COVID-19 is destroying the market for supertankers that deliver about a fifth of the world's crude oil. The result is likely to be booming trade on …
A record six supertankers keep Louisiana Offshore Oil Port busy. Medium-sour crudes from the U.S. Gulf of Mexico are being snapped up by overseas buyers, paving the way for a record six supertankers to load at the Louisiana Offshore Oil Port in a matter of weeks, people familiar with the matter tell Reuters. The six scheduled loadings in late ...
The surge in oil production by Saudi Arabia and subsequent increase in demand for oil tankers has seen daily rates for supertankers double in less than a week. ... Industry Reports. Industry ...
As crude production ramps up, demand for supertankers has surged, dampening the outlook for oil prices but potentially signalling strength in the shipping industry …
The report provides an in-depth study of the Bunker Fuel market, highlighting the latest growth trends and dynamics in the Bunker Fuel market. The report is intended to assist readers in accurately assessing current and future Bunker Fuel market scenarios. A Courier news source reports that about the latest market research report titled ...
Covid-19 is destroying the market for supertankers that deliver about a fifth of the world's crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap. Last week, the 1,200-foot vessels plying the industry's busiest trade route ...
Based on RBN's latest midrange market scenario, we are forecasting additional growth from here, by an estimated 800 /d each year for the next 5 years. ... three of those nine supertankers were ...
supertanker A term originally applied to the class of tankers too large to transit international canals while carrying cargo, and currently defined by two ship classes: Very Large Crude Carriers (VLCCs) between ~200,000 and ~300,000 deadweight tons (dwt) and Ultra Large Crude Carriers (ULCCs) greater than ~300,000 dwt. Supertankers are a remarkable technological response to market conditions ...
Covid-19 is destroying the market for supertankers that deliver about a fifth of the world's crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan ...
The world's oil tankers are being filled with crude at a record pace as the options to store a glut on land rapidly diminish, one of the industry's largest owners said.
CRUDEOIL (19-Oct-2021) Saudi Arabia seems to have made good on its promise to cut oil production by a record amount in June. Observed Saudi crude exports for this month fell to 5.7 million barrels a day through June 29, the lowest since Bloomberg began tracking the flows at the start of 2017. That compares with 6.2 million a day in May.
Major oil trading firms stow diesel, jet fuel on supertankers as demand rebound eyed. Trafigura, Glencore and Vitol are holding about 1.5 million tonnes of the industrial and aviation fuel on at least seven Very Large Crude Carriers (VLCCs) off Singapore, Malaysia, Sri Lanka and Africa, according to shipping sources and data from analytics ...
Supertankers hauling oil on some of the world's longest trade trade routes had already been enjoying a massive windfall. Then came a reported attack on an Iranian ship (original text Bloomberg) By Brian Wingfield and Firat Kayakiran (Bloomberg) –Supertankers hauling oil on some of the world's longest trade trade routes had already been ...
The summer doldrums are here for oil supertankers. (Bloomberg) -- The summer doldrums are here for oil supertankers. Freight rates on the benchmark route from the Middle East to Asia have slipped ...
Freight rates for supertankers from the Louisiana Offshore Oil Port to Singapore TD-LPP-SIN climbed to a record $9.28 a barrel last week, Reuters reports. But...
While bunker fuel prices have slipped from their 2021 high in July, they still remain elevated. The OPEC+ alliance is set to pump 400,000 more barrels a day of crude this month, which could increase exports. However, this "has yet to significantly boost tanker activity," the IEA said, while lowering its oil demand outlook in general.
The disruptions to the Suez Canal in the 1950s, 1960s and 1970s precipitated the rise in popularity for VLCCs over Suezmaxes and, in 1977, the opening of the SUMED pipeline. As a consequence of VLCCs and SUMED, an accident closing the Suez Canal, like the grounding of the Ever Given, is dramatically less important to tanker rates than it would ...
Robust data is an essential underwriting tool. In a sector rife with market volatility and other unknowns, Big Oil often carries outsized exposures. Unlike general property insurance for commercial enterprises, where the law of large numbers sharpens underwriting for more than 5 million buildings, data on the roughly 135 oil and gas refineries ...
Supertanker spot rates reach record highs. Crude-tanker rates continue to surge. Photo credit: Shutterstock. On Friday, Oct. 11, headlines blared of crude-tanker rates topping $300,000 per day, but the reality didn't quite match the initial hype. Those numbers were for conditional deals, known in the industry as "on subjects.".
The New Supertanker Plague. Blame it on super-rust, a virulent form of corrosion that has destroyed hundreds of ships and could sink the oil industry. On …
Supertankers could change U.S. oil export game ... according to a report by S&P Global ... The U.S. oil industry also has a growing export …
The Supertanker will bring to the aerial firefighting industry a patented pressurized drop capability, which is another significant safety benefit of the Evergreen program. This allows the aircraft to drop at higher altitudes while keeping within the aircraft's design envelope.
The growth of the global crude oil pipelines market is likely to be influenced by the rising demand for crude oil across the globe. According to the estimates of International Energy Agency (IEA), around 1 Mn barrels is needed every day by the end of forecast tenure, from 2020 to 2030. In an effort to meet this ever rising demand for crude oil ...
U.S. crude oil exports hit an all-time high of 3.607 million bpd in the week to February 15, and held close to that record level, at 3.359 million bpd, in the week ending February 22, according to ...
The Louisiana Offshore Oil Port, or LOOP for short, is an innovative solution to the problem. The LOOP is located in the middle of a 36-square-mile safety zone in 115 feet of water 18 miles off the coast of Louisiana. It can safely host the world's largest supertankers and up to three supertankers can unload their cargo of oil at the same time.
One example of the whipsaw in Saudi flows is India, the closest major market. Riyadh's crude exports to India soared to more than a million barrels a …
An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers. Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries. Product tankers, generally much smaller, are designed to move refined products from refineries to ...
The smaller vessels on the AFRA scale, the General Purpose (GP) and Medium Range (MR) tankers, are commonly used to transport cargos of refined petroleum products over relatively shorter distances, such as from Europe to the U.S. East Coast.
China's demand for crude oil shows no signs of abating. There are currently more supertankers bound for the Asian nation than at any time since the start of 2017 and possibly longer. That could ...
Covid-19 is destroying the market for supertankers that deliver about a fifth of the world's crude oil. The result is likely to be booming trade on the beaches of Bangladesh, India and Pakistan, where obsolete ships go to get blow-torched and sold for scrap. Last week, the 1,200-foot vessels plying the industry's busiest trade route -- from ...
Marine Market Research Report Fortune Business Insights™ offers all-encompassing market research reports on the energy and power industry that contain comprehensive analysis of the industry trends and drivers and projections about its future growth and revenue patterns based on in …
