Job Search
 
 
  CV Search
 
 
  News
All types of tonnage in line for demolition as market picks up pace
  
Newbuilding Orders Pick Up as Shipowners Boost Global Orderbook
  
ICS Launches Free Guidance on Preparing for 2020 Sulphur Cap
  
ABS International Regulation News Update Marine Environment Protection Committee 72nd Session
  
Contaminated bunkers: protecting the purchaser
  
 
 

Maritime News

VLCC Cargoes from the US A New Market Development

The news that a trial VLCC loading occurred in Louisiana was a rather significant development in the global tanker market. According to the latest weekly report from shipbroker Gibson, the successful loading of a VLCC at the Louisiana Offshore Oil Port (LOOP) was a “culmination of the port’s efforts to modify one of its pipelines to accommodate the bidirectional flow of crude through the terminal. It remains to be seen how much will be exported from the port on a regular basis, taking into account its restricted pipeline connectivity to the key shale plays. However, undoubtedly there is no shortage of export demand. The growth in US crude exports was spectacular last year, with total volumes up by around 1 million b/d over the course of the year. The biggest increases were seen in long haul trade to Asia, stimulated by restricted crude flows out of the Middle East and the need for diversification by energy hungry Asia Pacific countries. Both Suezmaxes and VLCCs benefited from these incremental long haul barrels, although to date loading a VLCC required an expensive reverse lighting exercise. Infrastructure improvements at LOOP would certainly improve freight economics for VLCCs. In addition, once the dredging project at the port of Corpus Christi is completed, the terminal is also expected to be able to load partladen VLCCs”.

According to Gibson “long haul trade from Latin/South America to Asia also remains strong, despite the economic turmoil in Venezuela, which is affecting the country’s crude exports. Venezuela’s short haul crude trade to US has been in decline for quite some time, while long-haul volumes to the East have started to slip of late. Nonetheless, this has been more than offset by growing shipments of Brazilian crude both from Brazil and Uruguay.According to AIS movements, last year the volume of crude exported on VLCCs from these two countries reached 25 million tonnes, up by over 25% versus 2016”.

The shipbroker added that “robust crude trade from Latin/South America, coupled with the increasing number of long haul shipments out of the US Gulf, is translating into gradual increases in demand for VLCCs. Yet, the availability of naturally positioned tonnage in the region is at best static, if not at risk of decline, as ongoing increases in US crude production threaten to lower the country’s crude import requirements, including those barrels shipped from the Middle East. For VLCCs, discharging in Europe, loading in the Caribbean or the US Gulf is already a natural step forward. Furthermore, a new trend has emerged since last year, with VLCCs occasionally ballasting from the East to load off the South American coast or in the Caribbean”.

Gibson noted that “keeping all things equal, strong prospects for continued growth in US crude exports and VLCC infrastructure developments suggest further increases in chartering demand and with it, dwindling availability of naturally positioned VLCCs in the region. This implies a greater need for ballasters; however, the majority of the US business is done on a speculative basis. Quite possibly these market dynamics will pull more prompt tonnage towards the US Gulf, creating additional opportunities for Eastern ballasters for Caribs/South American term loadings. Of course, owners will only welcome more inefficiencies in trade, yet a watchful eye has to be kept on developments out of Venezuela, as a further decline in long haul crude trade out of the country cannot be ruled out”, the shipbroker concluded.

Meanwhile, in the crude tanker this week, in the Middle East, Gibson said that “Chinese holidays, and I.P. Week in London, handicapped VLCC Owners’ hopes from the very start of the week and although volumes were not as thin as they could have been, ongoing heavy availability continued to weigh heavily, and rates remained stuck fast within their recent lowly range. Older/more challenged units at down to ws 30 to the East with modern units into the high ws 30’s and runs to the West as low as ws 15.5 via the Suez. Perhaps busier next week, but supply will remain a negative drag anchor. Suezmaxes found very little to do and competed extra hard for any stray cargo to the West to force rates there into the very low ws 20’s with no better than ws 57.5 available to the East. Some have ballasted to the Atlantic, but even that exodus has barely dented supply. Aframaxes remained weak, and rates edged off further from their recent lows. 80,000mt by ws 82.5 to Singapore now, and similarly poor values likely over the near term, at least”, the shipbroker concluded.
Nikos Roussanoglou, Hellenic Shipping News Worldwide

Click Here To Read More.

 Featured Company
AL-HUZAIR MARINE SERVICES PVT.LTD,India West Zone Marine Pvt Ltd,India Admiral Marine Services Pvt. Ltd.,India
Udya Shipping Services Pvt. Ltd. ,India CCrescent,India Nimbus Maritime Services Private Limited,India
S K ENGINEERING SHIPPING I PVT LTD,India Vrinda Global Pvt. Ltd.,India AUBURN SHIPMANAGEMENT DMCC,India
Trycon Marine Services Private Limited,India ASIA MARITIME SERVICES PVT.LTD.,India ASP Ship Management (India) Pvt Ltd,India
Aark Shipping And Manning Pvt. Ltd.,India Euro Crewing Service LLC,India Ocean Offshore Marine India,India
AMAZE MARITIME SERVICES PVT. LTD. ,India HOLY ANGEL MARINE SERVICES PVT LTD,India BD Shipping,India
Global Jobs Pool. ,India CORPORATE MARITIME SER PVT LTD,India Arctic Offshore & Manning Company Pvt. Ltd.,India
Vigil Marine Services Private Limited,India NAAVEX MARINE SERVICES,India World Ships Management Pvt Ltd,India
Sea Wealth Maine Solutions,India Marine Solutionz Ship Management Pvt. Ltd.,India TEJAS MARITIME PVT. LTD. ( MAC SHIP DESIGN AND CONSTRUCTION PRIVATE LIMITED ),India
DP SHIP MANAGEMENT PVT. LTD,India BELLFRANC ALLIED SERVICES PRIVATE LIMITED,India DS MARINE,India
Trinitas Ship Management Private Limited,India OLIVE CREW MANAGEMENT,India Nams Ship Management Pvt.Ltd,India
IMS SHIP MANAGEMENT Pvt Ltd,India vencen marine solution,India SS Maritime Services,India
Seastrom Marine Pvt. Ltd.,India Malawat Ship Management Pvt.Ltd.,India Mariners Community Ship Management Private Limited,India
SEASON SHIP MANAGEMENT & MARITIME SERVICES,India Tapti Waterways Private Limited,India Naz Maritime Services Pvt.Ltd.,India
Swar India Shipping Services Pvt. Ltd,India Quadrant Maritime Pvt Ltd,India Tangar Ship Management Pvt Ltd,India
Glance One Ship Management Pvt. Ltd.,India Oath Marine Services Pvt Ltd,India MARVIN INTERNATIONAL SHIP MANAGEMENT,India
Rassiya Shipping Services Pvt Ltd,India AUBURN SHIPMANAGEMENT DMCC,India Mr.Sushant,India
Summai Shipping Pvt.Ltd.,India MMS Maritime (India) Pvt.Ltd,India AMSWAY SHIP MANAGEMENT PRIVATE LIMITED,India
AG. MARITIME PRIVATE LIMITED,India Pelorus shipping pvt.ltd,India SVS MARINE SERVICES PRIVATE LIMITED,India
Seashell Marine Service Pvt. Ltd,India East India Shipping Agency,India Campbell Shipping Pvt. Ltd.,India
Phelix Shipping Ventures Pvt. Ltd,India SHODEN MARITIME & SHIPPING VENTURES PVT LTD,India Coastal Shipping Links(India) Pvt.Ltd,India
DMC SHIP MANAGMENT PVT LTD ,India Unimar Marine Services Pvt. Ltd.,India Three Bees Shipping Pvt. Ltd,India
Ocean Glaxy Marine Pvt. Ltd.,India VR MARITIME SERVICES PVT LTD,India Seaprime Marine Mgmt Pvt.Ltd,India
sarwamangla Marine Pvt Ltd,India Twilight Shipping,India Indocean Maritime Services Pvt Ltd,India
Valaf DMCC,India Lilly Maritime Pvt. Ltd.,India Neptune Ship Management ,India
Nimbusmaritime Service,India MMS Americas LLC,India Amag Ships Pvt. Ltd.,India
gwl maritime services india pvt ltd ,India RAMAN MARITIME ACADEMY PVT. LTD.,India Eklavya Ship Management,India
Penta Crystal Ship Management,India Oceanic Shipping Services Private Limited,India Synergy Maritime Recruitment Services Pvt Ltd,India
MAERSK ,India RAMAN MARITIME ACADEMY PVT. LTD.,India SeaJobhunt,India
APAC Marine Services Pvt. Ltd,India Angel Maritime (India) Services ,India Albatross  Marine Services  ,India
AET Shipmanagement (India) Pvt. Ltd,India Helm Shipping Management Private Limited,India SHRI MAHAVIR MARINE SERVICES PVT LTD,India
Ind-Aust Maritime Pvt. Ltd,India Bridgeview Maritime Pvt.Ltd,India Calm Seas Shipping and Maritime Services Pvt.ltd,India
Ad Ship Management pvt. Ltd,India Tristarr Maritime And Shipping Private Limited,India

Copyrights © 2012 seajobhunt.com
Terms and Conditions  -   Sitemap  -   Private Policy  -   FAQ  -   Contact Us
Site By : Pheunix