General Tanker News

Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

Maersk Tankers to welcome fuel efficient tankers
quote:

Maersk Tankers will take delivery of two 'super fuel efficient', Japan-built VLCCs on long-term bare-boat from South Korean operator Cido.The vessels will be delivered from Universal Shipyard in Japan in November and December this year.
More at http://www.hellenicshippingnews.com/index.php?option=com_content&view=article&id=53368:maersk-tankers-to-welcome-fuel-efficient-tankers-&catid=44:late st-news&Itemid=64
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
Dec 2, 2000
58,582
372
283
Easley South Carolina
Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

Mideast turmoil boosts oil routes threat
quote:

The combination of Yemen's looming civil war, chaos in Somalia, trouble in Saudi Arabia's oil province, increased Israeli and Iranian naval activity in the Red Sea, unrest in revolutionary Egypt have heightened the security threat to the region's maritime chokepoints.
More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=53961:mideast-turmo il-boosts-oil-routes-threat-&catid=44:latest-news& Itemid=64
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

So What Has Gone Wrong With the Tanker Market?
quote:

Figuring out the tanker spot market is a frustrating business. Although "fundamentals" analysis generally prevails in the end, the world where tankers trade is constantly producing surprises. Today, while Capesizes enjoy earnings over $30,000/day, despite their heroic orderbook, VLCCs with their more modest orderbook, struggle to bring in $7,000/day.
More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54247:so-what-has-g one-wrong-with-the-tanker-market-&catid=1&Itemid=6 1
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

Oil-Tanker Glut Shrinks to Four-Month Low as Ship Demand Rises
quote:

A surplus of the largest crude-oil carriers competing to load 2 million-barrel cargoes at Persian Gulf ports shrank to a four-month low as demand for vessels increased, a survey showed.
More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54417:eek:il-tanker-gl ut-shrinks-to-four-month-low-as-ship-demand-rises- &catid=44:latest-news&Itemid=64
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

DryShips Announces Signing of $141 Million Loan Facility for Four Tankers
quote:

DryShips Inc., a global provider of marine transportation services for drybulk and petroleum cargoes and off-shore contract drilling oil services, announced the signing of a $141 million syndicated secured term loan facility to partially finance the construction costs of the tankers Belmar, Calida, Lipari and Petalidi.
More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54670:dryships-anno unces-signing-of-141-million-loan-facility-for-fou r-tankers-&catid=1&Itemid=61
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
From The Hellenic Shipping News:

Tanker values offer investment opportunity
quote:

As evidenced by plenty of recent deals done by ship owners around the world, including many Hellenic owners, tanker values have retreated to such levels, that are pretty much irresistable, despite the short-term challenges that the tanker market is faced with.
More at http://www.hellenicshippingnews.com/index.php?opti on=com_content&view=article&id=54906:tanker-values -offer-investment-opportunity-&catid=1&Itemid=61
 
Dec 2, 2000
58,582
372
283
Easley South Carolina
Dec 2, 2000
58,582
372
283
Easley South Carolina
Today's Feature Story from The Hellenic Shipping News:

China shipbuilding plans threaten VLCC business
quote:

The tanker market is facing a bleak future as China restates its intention to control the transport of 50 percent of its crude oil needs by 2015.Growth may have slowed in some mainland sectors this year, but it takes a lot of fuel to stoke an economy growing at 8.5 percent.
More at http://www.hellenicshippingnews.com/en-gb/News.aspx?ElementId=e39236b3-22eb-48d0-9c7c-52e6d8626fa6

Comment: With the existing glut of tankers on the market right now, you can be sure that this little manuever will not make the Chinese any friends.