As the Solomon Trader disaster shows, nowhere is safe from oil spills, write Dr Sian Prior, Eelco Leemans and Dave Walsh from the Clean Arctic Alliance. This Sunday, Alaskans will mark the 30th anniversary of the Exxon Valdez disaster, when, due to human error, a single-hulled oil tanker struck a...
However, product tanker specialist expects “significant upswing” later this year ahead of IMO 2020.
The Port of Corpus Christi in Texas should be capable of loading Aframaxes, Suezmaxes and partially loaded VLCCs to export US crude by October 2020, an executive with the Carlyle Group, the company that is involved in the port’s expansion, informed.
Namely, Ferris Hussein, managing director at The Carlyle Group, noted that the Port is expected to be ready by October, 2020, at 54 feet. This will enable it to accommodate Aframaxes, Suezmaxes and partially loaded VLCCs to export crude.
OPEC crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years, said Gibson Shipbrokers in its weekly tanker market report. The heavy crude market is already incredibly tight and production cuts come at a time when demand for heavy grades is rising, the report notes.
A disappointing week for previously hopeful VLCC Owners, slow throughout as final March needs were merely dripfed into the marketplace, with full April programmes only in hand...
In its weekly report for 12-20 March, Fearnleys said that VLCC activity has been far disappointing, the market for Aframaxes trading in the North Sea and Baltic came off significantly, while for the Suezmax type, continued sparse activity in the West has allowed Charterers to pull rates even further down.
With the March VLCC MEG program behind, the owning community was looking forward to a sprout of activity for early April with ambition to push rates up in to the ws60 eastbound. However,...