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It is the best of times; it is the worst of times. Just as spot freight rates for supertankers have reached epic new heights, crude-tanker stocks are plummeting.Rates for very large crude carriers ...
Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969.
U.S. sanctions on subsidiaries of vast Chinese shipping fleet Cosco in September sparked a surge in global oil shipping rates as traders scrambled to find non-blacklisted vessels to get their oil ...
"Crude-tanker rates at historic levels!" blared the recent headlines. Lost in the media storm: Spot rates for liquefied natural gas (LNG) carriers are now higher – much higher – than for crude ...
Oil tanker freight cost rates could be highly volatile, due to circular dependence on fuel oil prices and ultimately crude prices, to demand for oil tankers to serve non-USGC non-North-Sea trade routes (especially to China), and to demand for using oil tankers as floating storage for crude oil. From 2000 to 2009, oil tanker freight rates ...
In 2005, oil tankers made up 36.9% of the world's fleet in terms of deadweight tonnage. [61] The world's total oil tankers deadweight tonnage has increased from 326.1 million DWT in 1970 to 960.0 million DWT in 2005. [61] The combined deadweight tonnage of oil tankers and bulk carriers, represents 72.9% of the world's fleet. [62]