Suezmax Rates

Latest News. Type your search and press Enter. This development continued last week. Nordic American Tanker Shipping Ltd. 01/07/2020 Nordic American Tankers Ltd. 19 per share for the current quarter, according to Zacks. Teekay Tankers has emerged as the winning bidder for Principal Maritime’s Suezmax fleet, ending months of speculation. The joint ventures have acquired the two Suezmax tankers for a total consideration of 40. Once the flow has been established and into the correct tanks, the loading rate may be increased to the agreed figure. General cargo ships accounted for the majority of ships in the world merchant fleet as of January. Teekay Tankers has been able to benefit from this strengthening tanker market as evidenced by the strong Suezmax and Aframax tanker rates we have secured in the fourth quarter of 2019 to-date, which have so far averaged approximately 133 percent and 105 percent higher than rates we earned in the third quarter of 2019, respectively. Their weight ranges from 70,000 to 120,000 dead weight tons, with a capacity of 750,000 barrels of oil. 2 million DWT. Charterers continue to put pressure on West Africa to US market. The Stena Sonangol Suezmax Pool has today a total of some 20 Suezmax tankers. Ultra large crude carriers (ULCC) can carry in excess of 320,000 DWT, roughly three million barrels of oil. Check today's rates. There is a strong upward pressure on major Suezmax tanker-routes. As this follow‐on round on newbuilding deliveries wore on and created the worst fundamentals setup witnessed in decades, earnings continued to erode and between 3Q16 and 3Q18, spot Suezmax earnings averaged below OPEX, at just ~$9,528/day. Re: Suezmax rates hit rock bottom - below NAT breakeven Often mentioned by NAT that they had the lowest breakeven price vs their competitors. The company's other two suezmax tankers and four aframax tankers are working the spot market. It is the one slide that clearly shows the current state of the shipping industry. (NYSE:NAT. During loading the mast riser valve is open (unless vapour emission control is performed) and VOC is expelled to air. ShippingWatch - nyheder, holdninger, profiler og tendenser fra det blå erhvervsliv - rederier, leverandører, offshore, havne mm. The Greek shipping company pointed out hat this increases the number of vessels fixed on secured revenue contracts since the beginning of the year to 24, the majority of which on rates with upside. Suezmax period rates jump on buoyant spot trade Tankers 'Madness' persists as Dynacom ties up tanker fixtures at scorching rates Tankers Oil spilled as Iranian tanker explodes off Jeddah in. Frontline started in the mid 1990s with six ships, but rapidly grew to its fleet of 69 VLCC and Suezmax ships today (40 VLCCs plus one newbuild, 21 Suezmax and eight Suezmax OBOs). Mjølner Shipping’s fleet of vessels are carefully and deliberately employed using proven trade strategies that deliver superior results to the prevailing market. The second option will expire if the first option is. Similarly a Suezmax booking on the Basrah-Vadinar route was made at WS 420 compared with WS 550 one a day ago. Transaction consideration to consist of (i) 16,035,856 ordinary shares of Frontline at an agreed price of USD8. Les navires de taille Aframax sont des pétroliers dont le port en lourd est compris entre 80 000 tonnes et 120 000 tonnes. The 155,000-dwt tanker Olympic Flag (built 2004), delivered soon after the Olympic Future from the same yard, has been fixed by Sun Oil for up to seven years at an undisclosed rate. In the first week of May, week 18, VLCC (very large crude carriers) rates rose by 62%. This increase in spot rates reflects higher fleet utilization compared to this time last year and is a strong indication of. A Primer on Dry Bulk Freight Rates 2. The average Suezmax rates dropped from $5,603 per day. Using current 12-month TCE as a proxy for Suezmax day rates, NAT could generate up to $40 million in 2019 cash flow after Maintenance CapEx, Principal Payments, and Dividends. Suezmax rates finally broke the ws 85 recent ceiling, with a tighter tonnage list and a concentration of stems needing to be covered, 140,000mt x ws 90 has been paid multiple times for European destinations. The market level for our ships has. Time Charter Contracts. The terminal has two Single Point Moorings (SPMs), where vessels are loaded at a water depth of 54-56 metres. During 2018, 28 suezmax vessels were delivered from the shipyards and 21 vessels were scrapped, the international tanker company said in an announcement. Rates for LR2 and LR1 tankers reached USD 32,000 per day, but those for MRs disappointed because they only reached USD 20,000 per day. In order to counterbalance the spot employment of its VLCC fleet, Euronav chooses to employ a part of its Suezmax fleet on long-term time charter. 00 m and the maximum draft is 19. In today's note from equity research firm BTIG (summarized on StreetInsider. Frontline started in the mid 1990s with six ships, but rapidly grew to its fleet of 69 VLCC and Suezmax ships today (40 VLCCs plus one newbuild, 21 Suezmax and eight Suezmax OBOs). Suezmax: Süveyş Kanalından geçebilecek en büyük gemi sınıfıdır. in August agreed to buy 10 Suezmax crude oil tankers built in. Despite a high volume of newbuilding deliveries in the Suezmax tanker market over 2017 which led freight rates levels to average lows of $14,000/day, demand growth evolution could help return the segment back to growth. Nordic American Tankers (owner of 23 Suezmax tankers with operating costs of about $8,000 per day per ship). Market Rates Spot rates will vary in the market as driven by the forces of tonnage supply and demand Spot rates are typically quoted as a percentage premium or discount of the published rate or WS100 rate Therefore a Suezmax rate of WS 125 is 125% of the WS100 rate Similarly a VLCC rate of WS 90 is 90% of the WS100 rate The Baltic Exchange. Owing to these restrictions a new design of VLCC was made by Stena which is a wide body VLCC with a suezmax depth. The correlation between the Suezmax voyage, WAF-USAC, and the benchmark VLCC voyage, AG-East, can clearly be seen in the past three years, most noticeably in 2013. 19/mt on Monday, the lowest since it was assessed at $5. zoom Teekay Tankers Ltd. Suezmax tanker freight rates on a roll. When there are too many ships in an area, rates tend to go down. The #Capesize rates today exceed $30,000 for the first time since Dec 2017. Platts assessed the cost of carrying 70,000 mt of crude on a Aframax vessel from the US Gulf Coast to the UK Continent at $17. This DWT converts into around 750,000 barrels of oil on any average AfraMax tanker. 95 m by the end of 2017. VLCC rates have climbed to USD 300,000 per day, the highest level in 15 years, analyst firm writes. Suezmax rates followed a similar trend. ME-GI Dual Fuel MAN B&W Engines A Technical, Operational and Cost-effective Solution for Ships Fuelled by Gas. Rates were down $$42,800. With tanker rates across all sectors currently at levels well above long-term averages, it is impressive to note the rally in Suezmax rates over the past three months. Currency Converter. This development continued last week. It serves as a document of title, a contract of carriage and a receipt for goods. 84 (WS115) in early September for a Suezmax cargo West Africa-U. Aframax (average freight rate assessment maximal) sind Tanker mit einer Tragfähigkeit zwischen 80. Nov 15 2013. The Suezmax market in 114 characters. Although some rates have historically been quoted in $/(long) ton, they are all now expressed in $/metric tonne, as is the custom of the trade. “The second quarter was dominated with one of the […]. 2 million DWT. The price of very low-sulfur fuel oil (VLSFO) has risen in recent months, a sign of increasing worry there is not enough of the fuel to comply with new global shipping laws that took effect this year. Suezmax rates on the route from West Africa to the United Kingdom dropped to $2,737 per day on April 6 from $2,806 per day on March 29, 2018. The current market rate for hiring a VLCC for three years is $29,250 per day while the rate for a Suezmax carrier is $22,500 per day, according to Allied Shipping Research. The only positive has been the significantly improved Angolan schedule, which increased optimism among Suezmax owners. (“DHT”) (NYSE:DHT) today announced that it took delivery of the Overseas London, a 2000 built Suezmax tanker, on January 28, 2008. As of today Frontline has cash breakeven rates for VLCCs and Suezmaxes of $21,400 and $15,900, respectively. Tanker Demand Rises, VLCC Rates Rise and Suezmax Fall. Definition of suezmax in the Definitions. A SuezMax is the largest tanker with a full cargo that can pass through the Suez Canal. Teekay Tankers has emerged as the winning bidder for Principal Maritime’s Suezmax fleet, ending months of speculation. The rate at which US and Iranian crude exports enter the market will help determine the severity of downward pressure on freight rates. In this respect, Drewry forecasts that freight rates for Suezmax tankers will build on the strength of the first six months of 1996, reaching a cyclical peak around the end of the decade with time. The typical deadweight of a Suezmax ship is about 160,000 tons and typically has a beam (width) of 50 m (164. Basic daily research charter rates for the RV Celtic Explorer, RV Celtic Voyager and ROV Holland I are outlined below. It is a measure of the usefulness of theship in a stranding scenario or in holding a large tanker or aircraft carrier off a lee shore. Takes Delivery of Second Suezmax Tanker: ST. Nov 15 2013. We are initiating coverage on DHT (DHT) with a Buy rating and $7. An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. com), we learn that the 30-year average rate for chartering a Suezmax oil tanker has been roughly $30,000 per day, but "[f]rom the start of 2017 through the first half of 2019, Suezmax rates averaged just $16k/d" -- a trend that BTIG describes as a "nuclear winter for. TORM PLC Incorporated under the Companies Act 2006 and registered in England and Wales with number 09818726 Admission to Listing of up to 68,614,131 A Shares in TORM plc with a nominal value of USD0. CEO of Nordic American Tankers, Herbjørn Hansson, points to several things indicating a rebound of the crude oil market. This strategy allows the Company to benefit from a secure, steady and visible flow of income. net dictionary. 00 per day for probably 45 to 60 days. HELIER, JERSEY, Channel Islands–(BUSINESS WIRE)–Jan. 022 MTRS DRAFT Maximum loading rate for homogenous cargo per manifold connection:. The rate on the Suezmax benchmark route (TD20) rose to $38,866 per day on September 23 from $16,124 per day on September 16, 2016—a 141% week-over-week increase. Weber Company, Inc. " ABT 150,581 DWT ON 16. In the Average Freight Rate Assessment tanker system (AFRA), they are the largest tankers. Meanwhile, the demand growth rates in traditionally Aframax markets, petered out. rate on the Black Sea-Med route remaining at WS 90. During loading the mast riser valve is open (unless vapour emission control is performed) and VOC is expelled to air. However, Suezmax and Aframax rates fell week-over-week. (OSG) has penned an agreement to takeover Alaska Tanker Company (ATC) that will also see the company. 14 strikes on Saudi Arabia’s oil fields, which Saudi Arabia has blamed on Iran. The maximum allowed draught of the Suez canal is currently 18. Gulf Coast hit a record this week, according to three shipbrokers, reflecting strong demand in Europe Read More December 20, 2019. It serves as a document of title, a contract of carriage and a receipt for goods. Baltic Clean Tanker Historical Data Get free historical data for Baltic Clean Tanker. This development continued last week. The decrease was attributed to lower spot tanker rates compared to the same period of the prior year along with losses on the sales of two Suezmax tankers and two Medium Range (MR) tankers, which were sold in the first quarter of 2017 and the second half of 2016, respectively. An overview of the types and sizes of dry cargo and tanker ships The international dry cargo and tanker markets are immense and served by numerous ships of several types and various sizes. Thousands of cargo carriers ply the world's seas and oceans each year, handling the bulk of international trade. ” Haughn said a surplus of ships available in the US Gulf has dwindled in recent weeks. In the Average Freight Rate Assessment tanker system (AFRA), they are the largest tankers. (NYSE:NAT. 00 m, the depth is 29. 61 per barrel (WS240) for an intra- Med cargo, versus $0. Trafigura’s wholly-owned subsidiary Trafigura Marine Logistics has entered into an agreement to sell 10 2019-built Suezmax tankers to Frontline through the sale of a TML special purpose vehicle which holds the vessels. A combination of a heavy flow of West African cargoes and a position list that has dwindled by the day has sent WAF Suezmax rates surging in the past week, shipping sources quoted as saying. Crude Oil Tankers For Sale - Vessels For Sale - Ship Sales - Advertise your commercial vessel or ship - List Your Vessel with Horizon Ship Brokers, Inc. Contact us on mail: [email protected] Our fleet Concordia Maritime's product tanker fleet consists of ten P-MAX product tankers, two newly built IMOIIMAX chemical and product tankers and shares in one contracted MR (ECO) vessel. 5 million for a 5 year old) and the spot market rate is about $60,000 per day. The Clarksea Index acts as the heart rate monitor of shipping, covering all the main sectors. Although some rates have historically been quoted in $/(long) ton, they are all now expressed in $/metric tonne, as is the custom of the trade. The average Suezmax rates dropped from $5,603 per day on March 29 to $5,426 per day on April 6, 2018. 19/mt on Monday, the lowest since it was assessed at $5. Definition of suezmax in the Definitions. iv Abstract Title: Strategic Management of Oil Tankers Companies during recession periods The increase in demand for oil in the international markets offers good opportunities. Currency Charts. The average Suezmax rates dropped from $5,603 per day. They are mid-sized cargo vessels with a capacity ranging between 120,000 to 200,000 DWT. Suezmax are named after the famous Suez Canal. The Greek shipping company pointed out hat this increases the number of vessels fixed on secured revenue contracts since the beginning of the year to 24, the majority of which on rates with upside. Based in Greenwich, Connecticut, Charles R. Tanker Demand Rises, VLCC Rates Rise and Suezmax Fall. Rate indexes for Suezmax tankers are now in excess of $20,000 per day on a TC basis, which is a good indication of the level of the market. Our current fleet is focused on VLCC, Suezmax, and Aframax / LR2 segments. The Sabiti is a Suezmax-size vessel (a Suezmax can carry 1 million barrels of crude oil) that was reportedly fully laden when it was hit. Aframaxes and two Lr2 product tankers averaged $45,000/day vs. these remaining to be delivered during 4Q19. VLCC owners are raking in between $94k/d and $121k/d, depending on vintage and scrubbers installed. dk or phone: +45 70 777 445. Suezmax: This standard, which represents the limitations of the Suez Canal, has evolved. Hamilton, Bermuda, January 16. In the Average Freight Rate Assessment tanker system (AFRA), they are the largest tankers. As of March 18, 2019, it owned and managed a fleet of 72 vessels, including 43 very large crude carriers, 2 V-Plus vessels, 2 FSO vessels, and 25 Suezmax vessels, as well as 2 floating, storage, and offloading vessels. The second option will expire if the first option is. Suezmax Rates Surging December 2, 2005 With tanker rates across all sectors currently at levels well above long-term averages, it is impressive to note the rally in Suezmax rates over the past three months. (NYSE: NAT) announced today that it has agreed to acquire a double-hull Suezmax tanker which is expected to be delivered to the Company by March 15, 2009. The maximum DWT of a SuezMax changes with the development of the Canal and is dictated by the Suez Canal Authority, but it is limited by a few key factors. 50% m/m from 3. Rates for the fourth quarter are three to four times as high as for the first 9 months of 2018. Suezmax rates have reached their highest level since January 2014, said Paddy Rodgers, CEO at Euronav, Belgium-based tanker owner and operator, adding that crude oil tanker rates should remain strong in the coming months due to positive seasonal demand factors and improving underlying supply/demand fundamentals. Tankers: WAF-UKC Suezmax freight rates surge to eight-month high on cargo flow The cost of sending crude oil cargoes from West Africa to the UK-Continent has surged to the highest level in over eight months due to a sharp increase in Nigerian cargo flow in recent weeks. An overview of the types and sizes of dry cargo and tanker ships The international dry cargo and tanker markets are immense and served by numerous ships of several types and various sizes. Oil tanker sizes range from general purpose to ultra-large crude carriers on AFRA scale Source: T. Four Suezmax vessels with an average age of 2 years. Amidst heightened tensions in the Middle East, an Iranian Suezmax was damaged by an alleged rocket attack later last week in the Red Sea. Bill of Lading A document that establishes the terms of a contract between a shipper and a transportation company. The average daily TCEs earned in the spot and period market by the Company’s VLCCs, Suezmax tankers, and Suezmax OBO carriers in 2003 were $42,300, $33,900 and $31,900, respectively. Les navires de taille Aframax sont des pétroliers dont le port en lourd est compris entre 80 000 tonnes et 120 000 tonnes. Shipping & Chartering Ltd in Hull, UK, a sub-sidiary of H. There is a strong upward pressure on major Suezmax tanker-routes. Two analysts have made estimates for Nordic American Tanker’s earnings. net dictionary. Asked when a potential recovery of rates to $30,000-40,000 per day for VLCCs and $20,000-30,000 per day for Suezmax vessels could take place, Macleod pointed to the second half of 2018 as a. 95 m by the end of 2017. The Suezmax class has found itself in a downward trajectory with little resistance offered. A VLCC typically cost about $121 million ($116 million for a 5 year old) and the spot market rate is about $100,000 per day. However the break-even is a function of charter rates and other values, and so varies with time. The AfraMax name comes from the Average Rate Freight Assessment (AFRA) guide as set out by Shell in 1954, and the tanker size was created specifically to serve waterways and ports that were unable to handle the larger VLCC and. The Greek shipping company pointed out hat this increases the number of vessels fixed on secured revenue contracts since the beginning of the year to 24, the majority of which on rates with upside. Asked when a potential recovery of rates to $30,000-40,000 per day for VLCCs and $20,000-30,000 per day for Suezmax vessels could take place, Macleod pointed to the second half of 2018 as a. A joint venture has signed a deal with the Port of Corpus Christi to use a crude oil export dock to load Suezmax tankers. (DTM) was founded in 1991 to manage oil tankers. Specially designed from a charterer's perspective, our new buildings are engineered to provide faster maximum achievable speed, larger carrying capacity relative to vessels of the same class and double-up pumping capabilities. Clarkson & Co. Most tankers carry either crude oil from oil fields to refineries or petroleum products such as gasoline , diesel fuel , fuel oil , or petrochemical feedstock from refineries to distribution centres. TNK investment & stock information. In the last five years, the VLCC rates had touched $ 57,750 per day for a one-year charter and $45,000 per day for a three-year charter. Also, even as Suezmax fleet growth is moderating, VLCC fleet growth is projected at 7. Seafarers, Ship-Chandlers, ITF inspectors and Mission to seafarers can edit the page to put new information. This compares with the most recent peak, in late 2015, of more than USD35,000/day. This pushed rates closer to USD 2. Based in Greenwich, Connecticut, Charles R. Double Hull Tankers, Inc. Markets - US LPG exports and Suezmax rates soar. Suezmax the largest tanker that can cross the Suez. View Teekay Tankers Ltd. Other categories of tankers include: Medium Range (MR), Panamax (the largest tankers that can fit through the Panama Canal), Aframax, and Suezmax (the largest tankers that can fit through the Suez Canal). , the world's largest oil shipping company. Similarly, 260,000mt West Africa to China rose to WS115. Mason Hamilton, U. Oil tanker sizes range from general purpose to ultra-large crude carriers on AFRA scale Source: T. This will cover the cost of crewing, basic equipment requirements, victuals and fuel. Seafarers, Ship-Chandlers, ITF inspectors and Mission to seafarers can edit the page to put new information. (NYSE: NAT) announced today that it has agreed to acquire a double-hull Suezmax tanker which is expected to be delivered to the Company by March 15, 2009. Daily rates on main tanker routes as compiled by shipbroker Charles R. Overseas Shipholding Group, Inc. 05/mt on August 23, according to S&P Global Platts data. SCNT: This is the Suez Canal Net Tonnage. In order to counterbalance the spot employment of its VLCC fleet, Euronav chooses to employ a part of its Suezmax fleet on long-term time charter. As of March 18, 2019, it owned and managed a fleet of 72 vessels, including 43 very large crude carriers, 2 V-Plus vessels, 2 FSO vessels, and 25 Suezmax vessels, as well as 2 floating, storage, and offloading vessels. ANTWERP, Belgium, 15 January 2019 - Euronav NV (NYSE: EURN & Euronext: EURN) ("Euronav" or the "Company") is pleased to announce that the Company has sold the Suezmax vessel Felicity (2009 - 157,667 dwt) to a global supplier and operator of offshore floating platforms. View Teekay Tankers Ltd. Since the canal has no locks, the only serious limiting factors are draft (maximum depth below waterline), and height due to the Suez Canal Bridge. com Suezmax Tanker Spot Rates 0 10,000 20,000 30,000 40,000 50,000 Q1 Q2 Q3 Q4 Source : Clarksons (Suezmax global average) USD / Day 2011 2012 2013 Last Update: June 28, 2013. In West Africa, rates for 260,000mt initially held at around WS 41 before Maran tonnage fixed at WS 43 with CNOOC. 7% for 2019 (the loftiest annual growth rate for the class in 43 years), which risks derailing the fragile. 120-200 bin DWT arasındaki gemiler bu sınıfa girmektedir. Tsakos Energy Navigation (TEN) has announced the charter with profit sharing provisions of one suezmax tanker for 18 months to a major oil concern. The current market rate for hiring a VLCC for three years is $29,250 per day while the rate for a Suezmax carrier is $22,500 per day, according to Allied Shipping Research. In today's note from equity research firm BTIG (summarized on StreetInsider. 15 Mn for Suezmaxes. (It is currently well above that price). Following the acquisition of the 10 Suezmax tankers from Trafigura, Frontline's fleet will consist of 75 vessels, including newbuildings, with an aggregate carrying capacity of 14. Scorpio Tankers' strategy is to be a leading owner and operator in the tanker industry and to seek the best risk adjusted returns throughout the industry cycle. Specially designed from a charterer’s perspective, our new buildings are engineered to provide faster maximum achievable speed, larger carrying capacity relative to vessels of the same class and double-up pumping capabilities. An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. " Despite the restart of Forcados, it said "the tonnage list in West Africa remains long, compounded by a weaker Arabian Gulf market sending ballasters into the region. Time Charter Contracts. " På sikt er det muligheter i tank, men våren kan bli seig. Suezmax market rates showed a sharp increase of 24. In its weekly analysis, Poten says because only a small percentage of ships will have scrubbers by the start of the year, the freight rates will, at least initially, be driven by ships without scrubbers, burning more expensive low-sulphur fuel. Scorpio Tankers' strategy is to be a leading owner and operator in the tanker industry and to seek the best risk adjusted returns throughout the industry cycle. This strategy allows the Company to benefit from a secure, steady and visible flow of income. This development continued last week. Overseas Shipholding Group, Inc. Check today's rates. Marine Technology with Honours in Marine Engineering, University of Newcastle upon Tyne, 2002 SUBMITTED TO THE DEPARTMENT OF OCEAN ENGINEERING IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF MASTER OF SCIENCE IN OCEAN SYSTEMS MANAGEMENT. The Suezmax class also benefited from a firming market, showing higher levels of increases in spot freight rates supported by a tightening tonnage list and increased transit delays in the Turkish. Nordic American Tankers is experiencing lower daily charter rates for its fleet of 30 Suezmax tankers during this quarter than it did in the first three months of the year. 1/10/11(Bloomberg) Freight Rates Tumbling as 35-Mile Line of Ships Sails Even at an average of $22,000, ship owners should be able to make money, with average daily expenses last year of about $15,000 for costs including crew and depreciation, Clarkson estimates. Following the acquisition of the 10 Suezmax tankers from Trafigura, Frontline's fleet will consist of 75 vessels, including newbuildings, with an aggregate carrying capacity of 14. Set your target rate and we will alert you once met. Mjølner Shipping's fleet of vessels are carefully and deliberately employed using proven trade strategies that deliver superior results to the prevailing market. In the previous week, the rates. The Suez Canal Net Tonnage Certificate can be obtained from any class society. Year to date, the index is now up 228%. 6 million USD with the vessels being delivered for the winter spot market 2019/2020 (one vessel delivered with immediate effect and one vessel expected to be delivered before the end of the month). The attack on the Iranian tanker comes less than a month after the Sept. Our fleet has been certified in the International Safety Management system (ISM) by ABS. As this follow‐on round on newbuilding deliveries wore on and created the worst fundamentals setup witnessed in decades, earnings continued to erode and between 3Q16 and 3Q18, spot Suezmax earnings averaged below OPEX, at just ~$9,528/day. Although some rates have historically been quoted in $/(long) ton, they are all now expressed in $/metric tonne, as is the custom of the trade. Mjølner's scale is driven solely by its ability to generate premium rates of return with the ships that it controls. Overseas Shipholding Group, Inc. However, Herbjørn Hansson, chief executive officer, said the rates remain well above the Bermudian-based company’s break. offers a broad range of maritime brokerage and consulting services to international oil, marine, trading and financial clients worldwide. During the period the Suezmax fleet increased by 43 tankers, reaching a total of 492 on August 1, 2017, compared to 449 units reported a year earlier. VLCC spot rates seem to have held up from a strong Q4 2015, Suezmax rates have eased off somewhat, and Aframax have also held up quite well. in August agreed to buy 10 Suezmax crude oil tankers built in. Nordic American Tankers is experiencing lower daily charter rates for its fleet of 30 Suezmax tankers during this quarter than it did in the first three months of the year. Continued strong demand ex-WAF is lifting Suezmax rates, which are threatening to break out of the $11-13,000 / day band they have been trading in for much of the year. In today's note from equity research firm BTIG (summarized on StreetInsider. Dirty Suezmax Wafr/UKC - 130,000 6 months. Suezmax rates have reached their highest level since January 2014, said Paddy Rodgers, CEO at Euronav, Belgium-based tanker owner and operator, adding that crude oil tanker rates should remain strong in the coming months due to positive seasonal demand factors and improving underlying supply/demand fundamentals. 7% for 2019 (the loftiest annual growth rate for the class in 43 years), which risks derailing the fragile. shuttle, product & Jones Act tankers) counts 517 vessels at the end of 2Q2019, said Nordic American Tankers (NAT). Teekay Tankers has emerged as the winning bidder for Principal Maritime’s Suezmax fleet, ending months of speculation. Suezmax rates have reached their highest level since January 2014, said Paddy Rodgers, CEO at Euronav, Belgium-based tanker owner and operator, adding that crude oil tanker rates should remain strong in the coming months due to positive seasonal demand factors and improving underlying supply/demand fundamentals. 8 years old. Dirty Suezmax Wafr/UKC - 130,000 6 months. During 2018, 28 suezmax vessels were delivered from the shipyards and 21 vessels were scrapped, the international tanker company said in an announcement. Nordic American Tankers ( NAT ) only has Suezmax vessels in its fleet. The company operates through two segments, Tankers; and Floating Production, Storage, and Offloading Operations. Therefore, our 4Q2019 results are out Tuesday February 18, 2020 which also is dividend declaration day. Tsakos Energy Navigation (TEN) has announced the charter with profit sharing provisions of one suezmax tanker for 18 months to a major oil concern. We work with the best shipyards & maritime companies to offer you the best tanker ships and crude oil tanker ships for sale and we can guarantee you only the best quality and service here. Namely, after a strong 2015, good 2016 and a decent 2017, loses came back to the industry, after three years with profits. • Future: Suezmax tanker capacity, 1,000,000 bbls, savings $1. Suezmax period rates jump on buoyant spot trade Tankers 'Madness' persists as Dynacom ties up tanker fixtures at scorching rates Tankers Oil spilled as Iranian tanker explodes off Jeddah in. NYSE-listed Teekay Tankers will pay USD662 million in cash and shares for 12 Suezmaxes built in 2005-13: the Princimar Courage, Princimar Pride, Princimar Integrity, Princimar Grace, Princimar Hope, Princimar Promise, Princimar Joy, Princimar Strength, Princimar Truth. The vessel operating expenses we incur primarily consist of crew wages and associated costs,insurance premiums, lubricants and spare parts, and repair and maintenance costs and technical management fees. The canal was closed between 1967 and 1975 because of the Israel - Arab conflict. Currency Converter. How the attack affects shipping rates. HELIER, JERSEY, Channel Islands–(BUSINESS WIRE)–Jan. Thus far this year, US export LPG demand has recovered from a downturn in 2013, mainly due to the weather. We work with the best shipyards & maritime companies to offer you the best tanker ships and crude oil tanker ships for sale and we can guarantee you only the best quality and service here. The average spread between Rotterdam and Singapore fuel oil prices during that period is $23. Daily rates on main tanker routes as compiled by shipbroker Charles R. As part of the transaction, options have also been agreed for Frontline to acquire a further four Suezmax tankers built in 2019 through the sale of a second TML special purpose vehicle. Week 50 begins on Monday, December 7, 2020. Clarksons Research (2004b) kindly provided time series of weekly 2 TCE spot freight rate for the period from January 5, 1990, through October 1, 2004, for the VLCC, Suezmax, and Aframax sectors, corresponding to T = 770 observations. Particular stress is also evident in the ‘old Panamax’ sector, with the price for a 15 year old 4,400 TEU ship now assessed at $5m, in line with estimated scrap values. The Suezmax sector saw a drop in rates at the beginning of the week particularly for Wafr load, and we are now back at the starting point. Nordic American Tankers ( NAT ) only has Suezmax vessels in its fleet. In sum, it is an encouraging start to the fourth quarter for crude tanker spot rates, and we remain optimistic that rates will increase meaningfully throughout the winter months. Prior to last week's massive run-up in Suezmax rates, the previous three weeks had averaged $40,000/day, representing roughly 25-30% of the 4Q19 earnings period. Suezmax tanker freight rates on a roll. LAY-UPS FEES at competitive rates from the Philippine Port Authorities. Price idea is about 20 Mill. Charterers continue to put pressure on West Africa to US market. One-year timecharter rates had declined to USD16,000/day. In West Africa, rates for 260,000mt initially held at around WS 41 before Maran tonnage fixed at WS 43 with CNOOC. Oil Tanker 150,581 Dwt Suezmax 2004 Ref C4495 M/T "M. The East Dock, located adjacent to the West Dock, is a greenfield dock facility that will be able to load Suezmax tankers (which are capable of transporting up to 1,000,000 barrels) at a max rate of 40,000 barrels per hour. 50 price target. Pure-play Suezmax platform set up for material shift in cash flow profile. Rates in the Middle East Gulf continued an upward trajectory, with 270,000mt to China at WS 66, up about five points and 280,000mt to the US Gulf, basis Cape/Cape, rated at WS 30, an increase of three points. VLCC freight rates down by 65% in 2017, Suezmax and Aframax rates retreat in half Saturday, 06 January 2018 | 00:00 It's safe to say that 2017 has been a dismal year for the tanker market, with average rates down by at least 50% across the board. WEST Africa suezmax charter rates are set to fall below the pyschological W100 barrier this week, or under $25,000 per day, as charterers maintain control in the spot market to force rates down on voyages to the US Gulf. The Cape Brindiski was at the Energy Transfer Partner docks in Nederland, Texas on Monday, according cFlow, Platts trade flow software. Short-term spot tanker rates may be. Latest News. Over the past couple of months, it's all been about the VLCC tankers and their substantial gains, in terms of earnings rise. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430. Freight rates on the WAF-UK Continent and WAF-Mediterranean routes, basis 130,000 mt, were assessed at Worldscale 75 last Tuesday up from w52. Royal Dutch Shell chartered the Suezmax vessel Amoureux this week for $9. 00 from last week. 00 m and the maximum draft is 19. In the Average Freight Rate Assessment tanker system (AFRA), they are the largest tankers. Suezmax spot freight rates for tankers operating on the West Africa-to-USGC route went up by 17% from a month before to stand at WS79 points. HELIER, JERSEY, Channel Islands–(BUSINESS WIRE)–Jan. The Clarksea Index acts as the heart rate monitor of shipping, covering all the main sectors. A Suezmax tanker typically cost about $80 million ($73. Rates for Aframax-class crude oil tankers leaving the U. Two analysts have made estimates for Nordic American Tanker’s earnings. The tanker derives its name from AFRA which stands for Average Freight Rate Assessment. Expect broker quoted spot rates to come down significantly today, not that this is dramatic in any way. There is a strong upward pressure on major Suezmax tanker-routes. Tanker Fleet. AFRA system was created in 1954 by Shell Oil to standardise contract terms. From 1 January 2020, the limit for sulphur in fuel oil used on board ships operating outside designated emission control areas reduced to 0. Stena currently runs the 15-vessel Stena Sonangol Suezmax Pool with Angolan state oil major Sonangol in the global suezmax spot markets. The WAF-UK Continent route, basis 130,000 mt, was assessed Worldscale 10 higher at w45 Wednesday, having spent the previous 10 days mired at w35. TCE rates are a non-GAAP measure. 95 m by the end of 2017. Specially designed from a charterer's perspective, our new buildings are engineered to provide faster maximum achievable speed, larger carrying capacity relative to vessels of the same class and double-up pumping capabilities. During the first and second week positive sentiment pushed the market up as limited tonnage availability, decent cargo interest and a bullish sentiment by owners contributed to rate increases. This week has seen freight rates for both clean and dirty Handies in the Black Sea and Mediterranean surge to Continue reading Gibson tanker report – Fleet of the Future. A combination of a heavy flow of West African cargoes and a position list that has dwindled by the day has sent WAF Suezmax rates surging in the past week, shipping sources quoted as saying. There is now a clear upward trend in vessel time charter rates. The fleet swelled 41 percent since 2008 because owners ordered. Crude Oil Tankers For Sale - Vessels For Sale - Ship Sales - Advertise your commercial vessel or ship - List Your Vessel with Horizon Ship Brokers, Inc. Euronav owns and employs 21 Suezmax vessels.