Suezmax Rates





Day rates for Saudi Arabia-Japan VLCC rates fell nearly 50%, reaching $50,955/day in January after briefly reaching the expected $100,000/day mark just one month earlier. This, in turn, is affected by economic problems in Asia. 9k TEU Feeder < 3k TEU 2018. Average price abt. The Suezmax fleet witnessed a net fleet growth of 9. SHTP and SCM are related parties to the Company. (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. Gibraltar to release Iranian oil tanker 'Grace 1' today. Ocean Tankers has a modern fleet of more than 100 oil tankers of various sizes. To learn more, visit www. VLCC rates along the Middle East to China route also cooled, falling to about $210,000 per day on Wednesday, down from about $265,000 on Monday, the data ship broking showed. Prices are typically weaker at this time of year as demand does drop off in the summer months, sources said. The July and August 2019 sale and purchase market saw very firm interest in the Suezmax sector. When there are too many ships in an area, rates tend to go down. AFRAMAX: A tanker of maximum 79,999 tonnes deadweight, or the largest tanker size in the Average Freight Rate Assessment Scale. Dirty Suezmax Wafr/UKC - 130,000 6 months. A daily global picture of the physical bunker fuels market, providing you with the latest marine fuel prices for all major ports along with insight in Spot new opportunities and develop a more informed forward plan with access to over 100 independent dry freight rates for the world's most traded comm Get the most important developments in. com Stena Bulk AB. DWT 147080, BLT 2000, SAMSUNG HEAVY INDUSTRI, KRS. A surge in demand to ship the flood of crude oil unleashed by Saudi Arabia and its OPEC peers is sending freight rates surging and forcing buyers to seek out space on smaller tankers after the largest ones have been booked out, shipping sources said. The average Diamond S Shipping stock price for the. agreed to buy 10 Suezmax crude oil tankers built in 2019 from Trafigura Pte Ltd. The size of tankers we deal with ranges from 20,000 dwt. Nordic American - A Different Company. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece. Baltic Exchange Indices Calculation methods and upcoming regulation International Maritime Statistics Forum April 2013. Email: [email protected] hernesheir commented on the word suezmax. However, rates have held up better than feared, and plummeting bunker prices have by and large compensated for sliding WS rates in terms of daily earnings. Suezmax crude oil tanker TOUR 2 is to be refloated and taken from Latakia beach, Syria, this or next week, probably. The Suezmax class has found itself in a downward trajectory with little resistance offered. The new dock construction was a joint effort between the Port of Corpus Christi Authority and Pin Oak Terminals. Keyword CPC PCC Volume Score; suezmax pool: 1. SUEZMAX 23-12-1997 Nordic American Tankers 02-07-2018 Al Shegaya VLCC 03-07-1998 KOTC 02-07-2018 Niagara SMALL TANKER 01-04-1981 AzovTransTerminal Ltd 28-06-2018 Cap Romuald SUEZMAX 02-10-1998 Euronav. As of February 21, 2013, the company's tanker fleet consisted of 48 vessels, including 34 VLCCs and 14 Suezmax tankers. Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company. Oil Tankers Oil Shipped Around the World The Transfer of oil from one country to another is a very large task. Advantage Tankers suezmax set for auction as Hayfin enforces mortgage claim Published 19 March 2020 16:36 GMT Tankers Oil price war boosts tanker rates and share prices. The Suezmax tanker Cape Brindiski is set to be loaded with US crude this week and then will sail for Trieste, Italy, according to a S&P Global Platts shipping report. As previously reported by FreightWaves, VLCC rates are being energized by: (1) the Sept. Dividend is a priority. US LPG exports totalled 4. Chih Chwen has 6 jobs listed on their profile. Why Oil Tanker Rates Just Doubled By Irina Slav - Feb 25, 2019, 6:00 PM CST. Frontline has also agreed to charter five of these vessels back to Trafigura on three-year time charters at a daily base rate of USD 28,400 with a 50% profit share above the base rate. The cost of shipping crude oil on a Suezmax from the Middle East Gulf to India jumped to about $200,000 per day by Friday, up from about $20,000 per day in the week before, according to shipbrokers. 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. Weber Tanker Market Updated by 10am EST Daily Thursday October 10 2019. VLCC rates along the Middle East to China route also cooled, falling to about $210,000 per day on Wednesday, down from about $265,000 on Monday, the data ship broking showed. BPCL looking at buying rare grades of crude oil at cheaper rates 26 Feb, 2020, 12:23PM IST BPCL eyes cheaper crude as Coronavirus hits Chinese "The Corona virus has disrupted crude oil prices and China has rejected a lot of crude oil in the last 3-4 months, and there is a. Approximately 80,000 dwt, which is the AFRA (Average Freight Rate Assessment) standard. 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. SALE AND PURCHASE MARKET REPORT. 4320 Chantilly Shopping Center, Chantilly, VA 20151. SECONDHAND. Amidst heightened tensions in the Middle East, an Iranian Suezmax was damaged by an alleged rocket attack later last week in the Red Sea. The new dock can accommodate fully laden bulk liquid tankers up to Suezmax class with loading rates in excess of 40,000 barrels per hour. 5 on Wednesday. It owns and operates Suezmax crude oil tankers. 20 Aframax / LR2. Suezmax: 285 m: 45 m: 23 m: Between 125,000 and 180,000 dwt, originally the maximum capacity of the Suez Canal. As previously reported by FreightWaves, VLCC rates are being energized by: (1) the Sept. Suezmax crude oil tanker TOUR 2 is to be refloated and taken from Latakia beach, Syria, this or next week, probably. Tanker spot rates have strengthened at the beginning of Q4-2018 due to an increase in OPEC production and strong seasonal demand. This development continued last week. SFL – Sale of older Suezmax tanker Press release from Ship Finance International Limited, November 13, 2015. 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. Posted in Accidents by Mikhail Voytenko on Apr 11, 2019 at 05:40. com According to Clarksons Platou Securities, Suezmax crude tanker rates were $68,300 per day as of Oct. Seabrook Logistics plans to construct nearly 700,000 barrels (111,000 cubic meters) of additional crude oil and condensate storage in Seabrook, Texas as well as a new Suezmax dock with up to a 45-foot draft (14 meters) and approximately 400,000 barrels per day (“bpd”) of dock capacity. 62 , which is 30. The Suez Canal passage requirements make it mandatory for the Suezmax to have a length of a maximum of 275. In addition, the two LNG carriers Neo Energy and Maria Energy, again earned higher rates in the fourth quarter of 2019 than in the 2018 fourth quarter, by 45% and 58% respectively. Scrolling Ticker. Installed on more than 1. Small Nuclear Power Reactors (Updated March 2020) There is strong interest in small and simpler units for generating electricity from nuclear power, and for process heat. The delivery of 50 […]. 40,000 liters of oil have spilled into the sea off a remote island in Chile's pristine Patagonia. That's quite a decline from Q4's peak of over $42k/day. The maximum size of vessel to use the Average Freight Rate Assessment method for calculating shipping rates, these tankers. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered. In 2020 we currently see 19 conventional Suezmax tankers scheduled for delivery. See all our fleet. The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. Any cheer among owners was short‐lived, however, as Aframax TCEs have largely corrected: presently, the MED‐MED route yields ~$9,776/day and the NSEA‐UKC route. According to Weber’s week 46 report, the Suezmax rates on the route from West Africa to the United Kingdom fell from $9,501 per day on November 10, 2017, to $8,122 per day on November 17, 2017. According to Weber's weekly report, the Suezmax market was busy this week. As the winds eased and freight rates rose, tanker owners looked to the future with renewed optimism. 13 last Monday. Indian Suezmax tanker covertly delivered Iranian oil to Syria and ran aground. Installed on more than 1. 5% below the current share price. 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. This need will persist, grow even, as long as the gap between crude consumption and production remains. Suezmax Rates in this sector have tumbled, not only due to the collapsing VLCC market, but also the lack of enquiry and the small armada of cargo free vessels sitting off Gibraltar waiting for their next opportunities for gainful employment. The crash in crude oil prices has come to the aid of the beleaguered shipping sector because of higher demand for oil tankers. "In addition, the tanker rates in the first and second quarters of 2014 have been stronger than the respective quarters in 2013, indicating that the. One of the largest Suezmax fleets in the world. 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. agreed to buy 10 Suezmax crude oil tankers built in 2019 from Trafigura Pte Ltd. FINANCIAL CALENDAR. Since our last week three weeks ago, crude tanker rates have softened with VLCC and Aframax average spot rates at approximately $12,000 pd and Suezmax tankers at approximately $16,000 pd, on the back of weak trading activity. Produced by - Amar Ehsan, CFA 2 Three Main Types of Freight • Refers to any type of cargo that can be stored without any need for sorting, packaging or special climate control • Can be further subdivided into “major” bulk (iron ore, coal and grains) and “minor” b. Nevertheless, the fleet is only set to grow at a level that should. 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. The limiting factors are beam , draft , height (because of the Suez Canal Bridge ), and length [1] (even though the canal has no locks ). 92 per barrel (WS245), as. Suezmax rates in the same markets rallied in tandem as they have been trading at an effective floor dictated by Afrramaxes, with $/mt rates matching those of the smaller class. A Primer on Dry Bulk Freight Rates 2. They carry about 800,000 to more than 1,000,000 barrels. Olivia Konotey-Ahulu. According to Weber's weekly report, the Suezmax market was busy this week. #N#333m VLCC 2004 - Japan Built - 334704 CBM - DWT 306352. Thus far this year, US export LPG demand has recovered from a downturn in 2013, mainly due to the weather. Time charter equivalent is calculated by taking voyage revenues. They are designed to pass through the majority of the ports in the world. It owns and operates Suezmax crude oil tankers. Clarksons Platou Securities reported that as of June 12, Suezmax rates were averaging $26,700 per day, up 73 percent week-on-week and almost double current VLCC rates, which are at $13,600 per day. 5% below the current share price. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. Transaction consideration to consist of (i) 16,035,856 ordinary shares of Frontline at an agreed price of USD8. Supertanker rates jump after big capacity squeeze. Name Type Flag Built Owned Interest Spot/ TC DWT* Draft Length** Shipyard; 1: Aegean: VLCC BE: 2016: Yes 100%: SPOT 299,999: 21. Ship Finance International Limited (NYSE: SFL) (“Ship Finance” or the “Company”), today announced that it has agreed to sell the 1998 built Suezmax tanker Mindanao to an unrelated third party. 47: Hyundai. Email: [email protected] American Journal of Transportation 116 Court Street, Suite 5 Plymouth, MA 02360 (508) 927-4188. 8%, while the Suezmax fleet grew by 2%. Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company. Crude tankers spiked to all-time high levels during Q4’19, with Suezmax rates reaching USD 160kpd for Suezmax vessels. The size of tankers we deal with ranges from 20,000 dwt. 2 million DWT. It is encouraging to see the return of volatility to the spot. "The Suezmax rates on the route from West Africa to the United Kingdom rose from $2,772 per day on April 20 to $8,339 per day on April 27. As of April 16, data provided by VesselsValue shows that of the 802 VLCCs on the water 60 are now being used as floating. Suezmax Class Ship. NAT has 23 suezmaxes which can load one mill barrels each. Suezmax Tanker Spot Rates 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Q1 Q2 Q3 Q4 / Day Source: Clarksons (Suezmax Global Average) 2013 2014 2015 Last Update: September 4, 2015. Shares of Nordic American Tankers (NYSE: NAT), which owns a fleet of large oil-carrying ships (referred to as Suezmax tankers in the industry), shot higher by nearly 25% in early trading on April 28. Time charter equivalent is calculated by taking voyage revenues. 9k TEU Neo Panamax 8-11. It owns and operates Suezmax crude oil tankers. A capacidade de carga do navio varia cerca de 1,1 milhão de barris. Dam 5626 gearbox. The imposition of size constraints when large oil tankers entered sea-routes highly prone to traffic created the need for the creation of Aframaxes. 33 million tonne of emergency storage -- enough to meet its oil needs for 9. Freight rates spiked on Sept. The downside is increased VLCC participation in West African, Carib- bean, and North Sea trades, capping how high Suezmax tanker rates rise. Takes Delivery of Second Suezmax Tanker: ST. 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. There is a strong upward pressure on major Suezmax tanker-routes. This Forecaster annual subscription package now includes FREE Monthly Supplements. 999 DWT, but the type has subsequently grown and is today typically of 800. 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. Our operating costs are about $8,000 per day per vessel. 00 per share issuable upon signing and (ii) a cash amount ranging from USD538 to USD547 million, payable upon the closing of the Transaction. Penfield Marine | Penfield Marine's next focus is on building a suezmax presence Penfield Marine has found a new front for expansion, telling TradeWinds that the shipmanager is laying the groundwork to take in the larger tankers by gearing up to add suezmaxes. 1 Spot Rates 2 Spot Earnings / TCE 3 Timecharter Rates 4 Trip Charter Rates 5 Own Brand Indices 6 Secondhand Prices 7 Resale Prices 8 Delivered Prices 9 S&P Activity 10 Newbuilding Prices 11 Scrap Prices 12 Fixtures 13 FFAs 14 Port Costs 15 Opex 16 Repayment Estimate 17 Contracting Activity (new orders) 18 Fleet Size 19 Fleet losses 20 Fleet. Why Oil Tanker Rates Just Doubled By Irina Slav - Feb 25, 2019, 6:00 PM CST. Short-term spot tanker rates may be. Day rates for Saudi Arabia-Japan VLCC rates fell nearly 50%, reaching $50,955/day in January after briefly reaching the expected $100,000/day mark just one month earlier. TCE rates are a non-GAAP measure. ; (2) increasing seasonal demand; (3) the looming IMO 2020 sulfur-cap rule, which has boosted refinery runs and pulled. 50% of Teekay Tankers. 20 Aframax / LR2. There are maximum conditions for DWT, depth, beam but all are interchangeable and the Suez Canal Authority produces tables regarding the conditions for tankers which have specific dimensions. 5% Suezmax 13. Why Oil Tanker Stocks Are the Hottest Spot in Energy Today Suezmax is up 114% and 359%. The West Africa to UK-Continent Suezmax route, basis 130,000 mt, was assessed at $6. Mideast crude tanker rates negative, supply bites. Vitol is listed as that shipment's charterer. Dirty VLCC MEG/Jap - 260,000. The largest ships that can transit the Suez Canal, these tankers are some 275 metres (900 feet) long and have a capacity of 120,000 to 200,000 dwt. Aids • New Training for Vessel Pilots and Tug Captains • Supporting BCIT Testing and simulation • 2nd narrows channel dredging. Following the trend of increased tanker rates, in the first quarter of 2020, TNK increased its spot tanker rates to $51,700 per day for their Suezmax vessel and $38,600 per day for their Aframax. SMRP is operated by SCM. There is a strong upward pressure on major Suezmax tanker-routes. Suezmax Rates in this sector have tumbled, not only due to the collapsing VLCC market, but also the lack of enquiry and the small armada of cargo free vessels sitting off Gibraltar waiting for their next opportunities for gainful employment. 9k TEU Neo Panamax 8-11. 2 million b/d (three vessels every two days) and close to 500,000 b/d for VLCCs (one full cargo every. That's quite a decline from Q4's. The Spike in Oil-Tanker Rates May Be Over, But a Boom Is Coming By. Stena currently runs the 15-vessel Stena Sonangol Suezmax Pool with Angolan state oil major Sonangol in the global suezmax spot markets. 2% >8K TEU 1. Following the trend of increased tanker rates, in the first quarter of 2020, TNK increased its spot tanker rates to $51,700 per day for their Suezmax vessel and $38,600 per day for their Aframax. Dirty Suezmax Wafr/UKC - 130,000 6 months. Number of Rear Axles: Tri. com 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. However, rates have held up better than feared, and plummeting bunker prices have by and large compensated for sliding WS rates in terms of daily earnings. Hamilton, Bermuda, September 23, 2019 Dear shareholders and investors, Spot rates for our Suezmax tankers are on the move. The Crude Fleet consists of 15 Suezmax vessels and one Aframax vessel. A typical Suezmax vessel has a capacity of 120,000 to 200,000 DWT with maximum 20. VLCC rates from the Middle East to China rose to about $265,000 per day on Monday, up from about $30,000 a day last week, broker data showed. The average Suezmax rates dropped from $5,603 per day on March 29 to $5,426 per day on April 6, 2018. agreed to buy 10 Suezmax crude oil tankers built in 2019 from Trafigura Pte Ltd. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. Rate this definition: Suezmax "Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the. Dirty VLCC MEG/Jap - 260,000. The Stena Sonangol Suezmax Pool has today a total of some 20 Suezmax tankers. Teekay Tankers has inked deals to sell three suezmax tankers and close a new five-year $533m revolving credit facility to refinance 31 vessels. Time charter equivalent is calculated by taking voyage revenues. It is encouraging to see the return of volatility to the spot. Further benchmarking the U. 2 million b/d (three vessels every two days) and close to 500,000 b/d for VLCCs (one full cargo every. Suezmax News: Coronavirus Disrupts Supply Of Ships And Demand -BIMCO, Tanker Rates Fall, But Storage Demand Stays Firm, TEN Sells Five Tankers, SHI Wins $314M. There are volume rates or weight rates for any shipment of any kind. Charter rates for a Suezmax tanker, which can carry around 1 million barrels of oil, are down to around $15,000 per day, brokers said, compared with around $44,000 per day for a VLCC that can. Cobo Center 1 Washington Blvd. There is a strong upward pressure on major Suezmax tanker-routes. As previously reported by FreightWaves, VLCC rates are being energized by: (1) the Sept. All quarterly report updates are accompanied by tables and charts in MS Excel format. Likewise, suezmax rates on the West Africa-China route reached $278,057 per day, gaining nearly $135,000 in 24 hours last Friday. The drop came after rates surged to record levels a week earlier. According to Weber’s week 46 report, the Suezmax rates on the route from West Africa to the United Kingdom fell from $9,501 per day on November 10, 2017, to $8,122 per day on November 17, 2017. Posted in Accidents by Mikhail Voytenko on Apr 11, 2019 at 05:40. Tanker Fleet. A stronger market going forward will form the basis for increased dividends. The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. SECONDHAND. Spot VLCC earnings have collapsed by more than 50% over the last week as fixture activity slowed down sharply. Scrolling Ticker. Trafigura Marine Logistics, a wholly-owned subsidiary of Trafigura Pte Ltd ("Trafigura"), announced that it has entered into an agreement to sell ten Suezmax tankers built-in 2019 to Frontline Ltd. DNB Markets has acted as mandated advisor between the parties in the transaction. VLCC rates typically begin a downward trajectory starting in late November. NAT has 23 suezmaxes which can load one mill barrels each. The July and August 2019 sale and purchase market saw very firm interest in the Suezmax sector. “Suezmax earnings continue to rise, with rates improving largely on higher activity out of West Africa,” said Clarksons Platou Securities. "Teekay Tankers will become one of the largest owners of modern Suezmax tankers at the right point in the tanker market cycle when positive market fundamentals support continued strength in spot tanker rates," Kevin Mackay, CEO at Teekay Tankers. ULCC, VLCC, Aframax tanker, Oil Tankers, LPG tanker, crude oil tanker,oil storage tanker, oil storage ship, storage ship, general area of coverage; Mediterranean sea. Dirty Aframax UKC/UKC - 80,000. Transaction Overview. The limiting factors are beam , draft , height (because of the Suez Canal Bridge ), and length [1] (even though the canal has no locks ). Please refer to non-GAAP measure disclosures at the end of this presentation. This vessel operates in the Scorpio Handymax Tanker Pool (SHTP). Baltic Dirty Tanker Historical Data Get free historical data for Baltic Dirty Tanker. Short-term spot tanker rates may be. Now the rates for VLCC are between $100,000 and $300,000 and Suezmax between $50,000 and $115,000 but the stock prices are lower. US$ Handysize 20,000 t < DW < 30,000 t HandyMax DW ~ 45,000 dwt Aframax 80,000 t < DW < 119,000 t (American Freight Rate Association). 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. 00 per share issuable upon signing; and (ii) a cash amount ranging from USD 538 to 547 million, payable upon the closing of the. These rates don’t predict future rates. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. 31, 2008-Double Hull Tankers, Inc. Reports & Presentations. Other articles where Suezmax is discussed: tanker: Suezmax. Chih Chwen has 6 jobs listed on their profile. A Primer on Dry Bulk Freight Rates 2. Built by Japan Marine United (JMU), the newbuild has an LOA of 274. While this current uptick in freight rates might merely be seasonally-lived, longer-term positives exist for this semi-slighted sector. VesselsValue reports Suezmax spot rates at just $3,591/day as of March 26th for the benchmark TD20 route, rebounding from the recent low of $2,577 on March 22nd. View Chih Chwen Heng’s profile on LinkedIn, the world's largest professional community. 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. Charterers are currently paying $3. 00 per share issuable upon signing and (ii) a cash amount ranging from USD538 to USD547 million, payable upon the closing of. 06/monthly* Stock Number: 1307191006. This vessel operates in the Scorpio MR Pool (SMRP). 50 a barrel to costs for Asian refineries, Mr. Nordic American Tankers Ltd. for as much as $675 million in cash and shares. The all-time high Diamond S Shipping stock closing price was 17. As of June 10, 2019, the Company operates a fleet of 32 vessels comprised of (i) 6 Panamax drybulk vessels; (ii) 9 Newcastlemax drybulk vessels; (iii) 5 Kamsarmax drybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 3 Aframax tankers; (vi) 2 Suezmax tankers; and (vii) 6. Suezmax owners’ earnings have surged by more than 350% on average worldwide since the beginning of September. Dirty Aframax UKC/UKC - 80,000. agreed to buy 10 Suezmax crude oil tankers built in 2019 from Trafigura Pte Ltd. Established in 1940, the company is an independent full-service shipbroker and marine consultant. 8%, while the Suezmax fleet grew by 2%. crude export trend, a single vessel load record was set at Port Corpus Christi in April 2017, when 930,000 barrels of crude oil was loaded to the Suezmax class Cap. The aim of the joint venture is to create a single point of contact for cargo owners to access a large fleet of 43 modern Suezmax vessels, including newbuildings, operated on the spot market. Frontline to acquire ten Korean 2019-built Suezmax tankers all fitted with exhaust gas cleaning systems Transaction consideration to consist of (i) 16,035,856 ordinary shares of Frontline at an agreed price of USD 8. They are mid-sized cargo vessels with a capacity ranging between 120,000 to 200,000 DWT. Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company. $28,042; 3-Year Rate. It is also involved in the charter, purchase, and sale of vessels. The maximum DWT of a SuezMax changes with the development of the Canal and is dictated by the Suez Canal Authority. Suezmax spot rates are expected to improve by the fourth quarter (Q4), according to Stena Bulk COO and vice-president Kim Ullman. 13 timecharter rates are also collected for LPG vessels. The tanker rates suffered from low activity and high newbuilding deliveries and as a result rates were down substantially in all segments. 2% Afras 9%Pmax 11% LR2 7% LR1 8% MRs/Handies Containers OB: 20. However, rates have held up better than feared, and plummeting bunker prices have by and large compensated for sliding WS rates in terms of daily earnings. 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. While this current uptick in freight rates might merely be seasonally-lived, longer-term positives exist for this semi-slighted sector. Freight rates are expected to rise significantly on the back of tighter tonnage supply, increased slow steaming and stronger demand for oil shipments following the implementation of International Maritime Organization (IMO) 2020 regulations, according to speakers at the Association of Shipbrokers and Agents Cargo Conference in Miami today. SUEZMAX TROUBLES The size of overall global tanker fleet has surged in recent years and the Suezmax size group is no exception to that. Charterers are currently paying $3. The limiting factors are beam, draft, height (because of the Suez Canal Bridge), and length (even though the canal has no locks. Suezmax rates showed much smaller and less dramatic drops, falling between 17% and 25%, while aframax earnings continued to rise, reflecting the trickle-down impact of the recent heat on the larger tanker sizes. Euronav owns and employs 27 Suezmax vessels. This was the case when rates surged in Q4,. Suezmax News: Coronavirus Disrupts Supply Of Ships And Demand -BIMCO, Tanker Rates Fall, But Storage Demand Stays Firm, TEN Sells Five Tankers, SHI Wins $314M. "The second quarter was dominated with one of the […]. Though more expensive, the wide contango structure still supports these near record charter rates for tankers we've been seeing as of late. The terminal is operated and 80% owned by Buckeye and 20% owned by Trafigura, with the latter retaining exclusive throughput rights. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. American dollar exchange rate American Dollar Exchange Rate. The delivery of 50 […]. Too much of a good thing is a bad thing. 2 million DWT. 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. This is the largest tanker passing the Suez Canal with the range of deadweight tons from 120,000 to 200,000 and 1,000,000 barrels of oil. At a time of high tanker freight rates, one of the challenges is to explain to investors that not all ships can bag the towering rates being reported, Concordia Maritime CEO Kim Ullman says in an interview with ShippingWatch. This interest in small and medium nuclear power reactors is driven both by a desire to reduce the impact of capital costs and to provide power away from large grid systems. Tanker freight rates soared to their highest levels of the year this week as Asian importers scrambled to secure crude supplies from the U. Spot Rates VLCC $66,525 Suezmax $42,019 Aframax $36,042 Panamax $22,418 LR2 $33,614 LR1 $22,155 MR/Handy $24,322 Source: Howe Robinson Partners Daily Tanker Report, November 5, 2015 Tanker Rates Remain Strong… Timely Acquisitions - Low Q3 Breakeven Rates 7. Both ship types carry crude, and hence, the demand drivers are basically the same. historically, VLCC and Suezmax rates have been highly correlated, and in our view, the rates for the two different ship types are likely to continue to move in tandem. Clarksons is the world's leading provider of integrated shipping services, bringing our connections and experience to an international client base. They steadied to $255,169 daily on Monday. Suezmax rates in WAF surged last week on the back of a jump in cargo volumes for 2nd decade June. VLCC rates to China from West Africa, which had nearly nudged $300,000 as well, also showed large falls, dropping below $190,000 per day. Clarksons is the world’s leading provider of integrated shipping services, bringing our connections and experience to an international client base. The VLCC FFA rates for the second quarter are $49,500, according to the Gibson’s Tanker Report. BPCL looking at buying rare grades of crude oil at cheaper rates 26 Feb, 2020, 12:23PM IST BPCL eyes cheaper crude as Coronavirus hits Chinese "The Corona virus has disrupted crude oil prices and China has rejected a lot of crude oil in the last 3-4 months, and there is a. Frontline has also agreed to charter five of these vessels back to Trafigura on three-year time charters at a daily base rate of USD 28,400 with a 50% profit share above the base rate. Weber Company, Inc. A classification used to describe a large portion of the global tanker fleet is AFRAMAX. The Diamond S Shipping 52-week high stock price is 17. US$ Handysize 20,000 t < DW < 30,000 t HandyMax DW ~ 45,000 dwt Aframax 80,000 t < DW < 119,000 t (American Freight Rate Association). 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. When there is scarcity of ships, rates tend to go up. #N#333m VLCC 2004 - Japan Built - 334704 CBM - DWT 306352. Frontline owns and operates a large and modern fleet. The cost of shipping crude oil on a Suezmax from the Middle East Gulf to India jumped to about $200,000 per day by Friday, up from about $20,000 per day in the week before, according to shipbrokers. DESCRIPTION • single screw VLCC oil tanker, with 17 cargo oil tanks including 2 slop tanks A and 12 segregated water ballast tanks. BURR BOULEVARD TEANECK, NJ 07666 (201) 907-0009 May 1st 2020 / Week 18 THE VIEW FROM THE BRIDGE VLCC's dominated the shipping headlines again this week as high volatility continued with charter rates/public shipping equity prices. "Teekay Tankers will become one of the largest owners of modern Suezmax tankers at the right point in the tanker market cycle when positive market fundamentals support continued strength in spot tanker rates," Kevin Mackay, CEO at Teekay Tankers. "The second quarter was dominated with one of the […]. Rhythmic, a new 157,000DWT Suezmax tanker, was delivered to Panama-registered Emperor Marine on Thursday, April 25. Rates for suezmax tankers on the Black Sea to Med route rose to W121. Dirty VLCC MEG/Jap - 260,000. 2nd Quarter 2019 Results. The standout deal was John Fredriksen’s Frontline, which took on up to 14 Suezmax tankers from commodity trader Trafigura to lift its fleet to 30 vessels and take over the ’king of the Suezmax’ crown. Scrolling Ticker. Size and height of the ships is restricted by draft below the water line and the height of the Suez Canal Bridge. There are three main problems associated with high loading rates which may result in over-stressing the ship's structure, namely:. As part of fleet positioning ahead of the progressively stronger market. 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. 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. Smaller Suezmax tankers also cost more than $100,000 a day even though they hold half as much oil as VLCCs, Poten said. In the European market, rates to move cargo from the Black Sea to the Mediterranean have declined during the last couple of weeks, currently standing close to USD 10,000 per day. According to Weber's weekly report, the Suezmax market was busy this week. Suezmax Asian oil buyers hiring smaller ships as supertanker rates soar [SINGAPORE] A growing number of Asian oil refiners are looking to hire smaller vessels to carry crude from the Persian Gulf after a Saudi Arabian booking spree spurred a surge in supertanker rates. This interest in small and medium nuclear power reactors is driven both by a desire to reduce the impact of capital costs and to provide power away from large grid systems. The Suez market topped out end of last week with a number of deals done in the high W100s being failed over rate as charterers managed to regain momentum. They carry about 800,000 to more than 1,000,000 barrels. American dollar exchange rate American Dollar Exchange Rate. See all our fleet. AFRAMAX vessels refer to ships between 80,000 and 120,000 deadweight tons. The Global Fearnbulk organisation gives our clients access to market. Approximately 80,000 dwt, which is the AFRA (Average Freight Rate Assessment) standard. The Crude Fleet consists of 15 Suezmax vessels and one Aframax vessel. AFRAMAX: A tanker of maximum 79,999 tonnes deadweight, or the largest tanker size in the Average Freight Rate Assessment Scale. Indian Suezmax tanker covertly delivered Iranian oil to Syria and ran aground Posted in Accidents by Mikhail Voytenko on Apr 11, 2019 at 05:40. Tanker freight rates soared to their highest levels of the year this week as Asian importers scrambled to secure crude supplies from the U. 999 DWT, but the type has subsequently grown and is today typically of 800. See all our fleet. Now the rates for VLCC are between $100,000 and $300,000 and Suezmax between $50,000 and $115,000 but the stock prices are lower. Other articles where Suezmax is discussed: tanker: Suezmax. Define frontline. Built by Japan Marine United (JMU), the newbuild has an LOA of 274. Oil tanker cargo loading procedure Many tankers now load from oilfields at sea. When there is scarcity of ships, rates tend to go up. Since our last week three weeks ago, crude tanker rates have softened with VLCC and Aframax average spot rates at approximately $12,000 pd and Suezmax tankers at approximately $16,000 pd, on the back of weak trading activity. Time Charter Contracts. Email: [email protected] 5 as of today. “We are very pleased to have signed the Lease Financing with ICBCL, which marks an important transaction between ICBCL and Frontline," comments Inger M Klemp, chief financial officer of Frontline Management. The limiting factors are beam , draft , height (because of the Suez Canal Bridge ), and length [1] (even though the canal has no locks ). 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. The maximum size of vessel to use the Average Freight Rate Assessment method for calculating shipping rates, these tankers. Suezmax: This standard, which represents the limitations of the Suez Canal, has evolved. Many of the crude tanker companies have reported Q1 2016 results- SFL, TNP and FRO have yet to report. The Suezmax sector is being hampered by excess tonnage with 29 ships delivered year to date and 31 more to come. This is the largest tanker passing the Suez Canal with the range of deadweight tons from 120,000 to 200,000 and 1,000,000 barrels of oil. ULCC, VLCC, Aframax tanker, Oil Tankers, LPG tanker, crude oil tanker,oil storage tanker, oil storage ship, storage ship, general area of coverage; Mediterranean sea. 5 million for a 5 year old) and the spot market rate is about $60,000 per day. This year has seen a major comeback of the Suezmax tanker market prompted by the recent surge in newbuilding orders, after three years of very few orders, according to London-based shipbroker Gibson. This ship size is popular with oil companies for logistical purposes, and, therefore, many ships have been built within these specifications. A daily global picture of the physical bunker fuels market, providing you with the latest marine fuel prices for all major ports along with insight in Spot new opportunities and develop a more informed forward plan with access to over 100 independent dry freight rates for the world's most traded comm Get the most important developments in. Oil Tankers - Typical Sizes Products tanker for refined products with 35,000 t < DW < 70,000 t. IHS Markit is your source for US and international engineering and technical standards, specifications, codes, and training materials in hardcopy of PDF download. Freight rates for Aframax tankers to Asia have reached their highest level so far this year,. The Cape Brindiski was at the Energy Transfer Partner docks in Nederland, Texas on Monday, according cFlow, Platts trade flow software. Scrolling Ticker. by ShippingHerald Headlines, Shipping News, Tankers, The Wire, Top Stories. (DHT) DHT is based in Hamilton, Bermuda and was founded in 2005. The information contained in this website, as well as all trademarks and logos displayed therein, belong solely to Hudson Shipping Lines (Hudson), and may not be copied or reproduced in any format for either public or commercial use without the express written consent of Hudson. The Company groups its business primarily by commodity transported and segments its fleet into a 16-vessel crude oil transportation fleet (the “Crude Fleet”) and a 50-vessel refined petroleum product transportation fleet (the “Product Fleet”). (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 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. Sold 7 owned suezmax tankers and arranged the sale of 6 chartered in tankers and terminated respective leases. Maersk Tankers stowaway escapes as handover impasse continues. When there are too many ships in an area, rates tend to go down. All quarterly report updates are accompanied by tables and charts in MS Excel format. If we were going to see a rate increase, we should have seen it by now. (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. Average price abt. 3: 516: 36: suezmax tanker: 1. This Forecaster annual subscription package now includes FREE Monthly Supplements. The company was founded by Herbjorn Hansson on June 12, 1995 and is headquartered. Even during the downturn in the shipping industry, Essar Shipping registered profits. DryShips Inc. For 135,000mt Black Sea to the Mediterranean rates are assessed at around WS157. These ships are 225,6 m (740 ft) long, 23,8 m (78 ft) wide and 35,5 m (116 ft) high, with a draught of 7,92 metres (26 ft). Demolition Vessels that are past their useful lives are broken up and the steel and parts are sold. There are some signs of oil-market stress from the surge in rates. Baltic Dirty Tanker Historical Data Get free historical data for Baltic Dirty Tanker. Suezmax Tanker Spot Rates 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Q1 Q2 Q3 Q4 / Day Source: Clarksons (Suezmax Global Average) 2013 2014 2015 Last Update: September 4, 2015. Scrolling Ticker. They are designed to pass through the majority of the ports in the world. The average Suezmax rates dropped from $5,603 per day on March 29 to $5,426 per day on April 6, 2018. FINANCIAL CALENDAR. Capital Product Partners was founded on January 16, 2007 and is headquartered in Piraeus, Greece. Mideast crude tanker rates negative, supply bites. For 135,000mt Black Sea to the Mediterranean rates are assessed at around WS157. Maersk Tankers stowaway escapes as handover impasse continues. However, they can be used as a tool to gauge market sentiments. In addition, Frontline has options to acquire a further four Suezmax tankers from companies associated with Trafigura - a possible 14 Suezmax vessels in total. VesselsValue reports Suezmax spot rates at just $3,591/day as of March 26th for the benchmark TD20 route, rebounding from the recent low of $2,577 on March 22nd. Dirty VLCC MEG/Jap - 260,000. History 1700 1800 1900 Singapore office. SUEZMAX 23-12-1997 Nordic American Tankers 02-07-2018 Al Shegaya VLCC 03-07-1998 KOTC 02-07-2018 Niagara SMALL TANKER 01-04-1981 AzovTransTerminal Ltd 28-06-2018 Cap Romuald SUEZMAX 02-10-1998 Euronav. This was the case when rates surged in Q4,. Definition of suezmax in the Definitions. The new dock construction was a joint effort between the Port of Corpus Christi Authority and Pin Oak Terminals. Suezmax News: Coronavirus Disrupts Supply Of Ships And Demand -BIMCO, Tanker Rates Fall, But Storage Demand Stays Firm, TEN Sells Five Tankers, SHI Wins $314M. Freight for the 270,000 mt VLCC US Gulf Coast-China route has so far averaged $11. Nordic American Tankers ( NAT ) only has Suezmax vessels in its fleet. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. 50 , which is 41% above the current share price. The information contained in this website, as well as all trademarks and logos displayed therein, belong solely to Hudson Shipping Lines (Hudson), and may not be copied or reproduced in any format for either public or commercial use without the express written consent of Hudson. A daily global picture of the physical bunker fuels market, providing you with the latest marine fuel prices for all major ports along with insight in Spot new opportunities and develop a more informed forward plan with access to over 100 independent dry freight rates for the world's most traded comm Get the most important developments in. Our company MSA, having ISO-9001-2000 quality certificate is providing transit ship agency services for vessels Panamax, Suezmax, Bulk Carrier, tanker, Lng, Lpg, General Cargo, container and Cruise only for corporate companies of our country and worldwide in Turkish Straits with Istanbul Office and general charterers’ agency services for exporter and importer holding companies. #N#333m VLCC 2004 - Japan Built - 334704 CBM - DWT 306352. 1 and a beam having a maximum width of 50 meters to 77. Suezmax rates in WAF surged last week on the back of a jump in cargo volumes for 2nd decade June. Filed Under: Tanker Report. 3rd Quarter 2019 Results. Oil Tankers - Typical Sizes Products tanker for refined products with 35,000 t < DW < 70,000 t. The "mini" surge in the newbuilding market, caused by more regular spikes in the spot market, has seen 24 vessels placed for the year to date. Strong market Improvement for NAT's Suezmax Tankers Nordic American Tankers on Monday stated that the spot rates for the company's Suezmax tankers are on the move. GLENPOINTE CENTRE WEST, FIRST FLOOR, 500 FRANK W. The largest ships that can transit the Suez Canal, these tankers are some 275 metres (900 feet) long and have a capacity of 120,000 to 200,000 dwt. The drop came after rates surged to record levels a week earlier. Tanker demand and freight rates are usually a reliable metric of oil demand patterns and trends. LNG tankers are typically 850 feet in length (about the size of a Suezmax Tanker) and capable of carrying 120,000 cbms of liquefied gas. And of course, the fact that by the end of the first week, activity westbound got much stronger. Jones Act trades tanker rates, some of which have topped $100,000 per day recently. Shipping Intelligence Weekly - Sources, Methods & Definitions Clarkson Research Services 4 February 2015 Timecharter rates are cross checked with the timecharter matrices that both the tanker and bulk carrier broker desks publish each week. The number of fixtures rose by two to 15. In its latest weekly report, shipbroker Gibson said that "like all other crude tanker segments, Suezmax rates have been on a rollercoaster ride over the past six months. The index covering shipments from China to the North American West Coast ( SONAR: FBXD. In any case, it is critical to see just a single ship will be chosen to go through the last vetting procedure. 00 per share issuable upon signing; and (ii) a cash amount ranging from USD 538 to 547 million, payable upon the closing of the. 4Q2019 report is to be released on Tuesday February 18, 2020. Crude tankers spiked to all-time high levels during Q4'19, with Suezmax rates reaching USD 160kpd for Suezmax vessels. 20 Aframax / LR2. Frontline owns and operates a large and modern fleet. 47: Hyundai. Nordic American Tankers ( NAT ) only has Suezmax vessels in its fleet. All ties severed: On Monday, a group of Arab states led by Saudi Arabia, the United Arab Emirates, Egypt and Bahrain severed ties with Qatar, effectively bringing all road. Though more expensive, the wide contango structure still supports these near record charter rates for tankers we've been seeing as of late. They steadied to $255,169 daily on Monday. •he is a double hull oil tanker with longitudinal bulkheads in way of cargo S. 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 week time charter equivalents have rocketed from around $30,000 per day to $250,000 per day with the period upon rates as high as WS 215 for long east runs and. (4) 2012 Dragon Crude Oil Trailers WILL BE PUT IN TEST 10,500 gallons Triple Axle Rear lift axle Titan gauges Robinson grind out box API fitting Clear coat on tank when bought new Tanks wash up like new. Suezmax are named after the famous Suez Canal. See the complete profile on LinkedIn and discover Chih Chwen’s connections and jobs at similar companies. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. SALE AND PURCHASE MARKET REPORT. 4% by the end of 2012. Join Our Community. In today's note from equity research firm BTIG (summarized on StreetInsider. VesselsValue reports Suezmax spot rates at just $3,591/day as of March 26th for the benchmark TD20 route, rebounding from the recent low of $2,577 on March 22nd. Suezmax rates improved by $4,000 per day or 33% year-over-year. There is a strong upward pressure on major Suezmax tanker-routes. Adding the 14 Suezmax tankers to the 16 Suezmax tankers already in the Frontline fleet (live and on order - source VesselsValue) will increase the fleet to 30 vessels, overtaking. This Forecaster annual subscription package now includes FREE Monthly Supplements. As of April 16, data provided by VesselsValue shows that of the 802 VLCCs on the water 60 are now being used as floating. SS Flexible Hose Pipes from Size 1/4” TO 12” ID IN SS 304, 321, 316, 316L – 100% Leak Proof Flexible Hose Pipes SS Flexible Hose Pipe & Expansion Joint Manufacturers Metline is a professional manufacturer of stainless steel flexible hose pipes and expansion joints, with flanges, camlock couplings, union, nuts and nipples as end connections. 31, 2008-Double Hull Tankers, Inc. 303 Monroe Ave NW Grand Rapids, MI 49503. The outlook for 2019 is positive, although we believe the market will calm before rising to new highs in the second half of the year and beyond. Advantage Tankers suezmax set for auction as Hayfin enforces mortgage claim Published 19 March 2020 16:36 GMT Tankers Oil price war boosts tanker rates and share prices. A SuezMax is the largest tanker with a full cargo that can pass through the Suez Canal. 3 metres, a beam of 48 metres, a depth of 23. Markets - US LPG exports and Suezmax rates soar. Teekay Tankers currently owns a fleet of 44 double-hull tankers, including 22 Suezmax tankers (including the 12 acquired vessels), 12 Aframax tankers, seven LR2 product tankers and three Medium. Location: ECI. They will calculate which rate will yield the greater charge, and that greater charge is the RT. The Stena Sonangol Suezmax Pool has today a total of some 20 Suezmax tankers. DNB Markets has acted as mandated advisor between the parties in the transaction. An oil tanker, also known as a petroleum tanker, is a ship designed for the bulk transport of oil or its products. Day rates for Saudi Arabia-Japan VLCC rates fell nearly 50%, reaching $50,955/day in January after briefly reaching the expected $100,000/day mark just one month earlier. Nordic American Tanker Shipping Ltd. 47: Hyundai. In its latest Tanker Freight Forecaster MSI notes that the VLCC and Suezmax markets moved unequivocally downwards in January, with spot rates sliding rapidly from a seasonally strong December. Smaller Suezmax tankers also cost more than $100,000 a day even though they hold half as much oil as VLCCs, Poten said. Tankers Ships For Sale. 4, up 126% week-on-week and up 321% month-on-month, while LR2 product tanker rates were $29,800 per day, up 53% week-on-week and 46% month-on-month. The stronger freight rates for crude tankers led to improved product tanker freight rates and ultimately improved chemical tanker freight rates The impact reached chemical tankers with the usual 6-8 weeks time-lag in early/mid November This effect naturally works both ways and it remains to be seen how quickly the. This development continued last week. 24 September 2019 Tuesday 16:40. However, they can be used as a tool to gauge market sentiments. The Suezmax sector is being hampered by excess tonnage with 29 ships delivered year to date and 31 more to come. Keyword Research: People who searched suezmax also searched. This need will persist, grow even, as long as the gap between crude consumption and production remains. Suezmax WAFR/USAC is also replaced by Suezmax Med/CHINA. 00 per share issuable upon signing and (ii) a cash amount ranging from USD538 to USD547 million, payable upon the closing of the Transaction. Suezmax News: Coronavirus Disrupts Supply Of Ships And Demand -BIMCO, Tanker Rates Fall, But Storage Demand Stays Firm, TEN Sells Five Tankers, SHI Wins $314M. There is a strong upward pressure on major Suezmax tanker-routes. Teekay Tankers Ltd. com), we learn that the 30-year average rate for chartering a Suezmax oil tanker has been roughly $30,000 per day, but. A typical Suezmax vessel has a capacity of 120,000 to 200,000 DWT with maximum 20. Shares of Nordic American Tankers (NYSE: NAT), which owns a fleet of large oil-carrying ships (referred to as Suezmax tankers in the industry), shot higher by nearly 25% in early trading on April 28. (a Suezmax is a tanker that. Likewise, suezmax rates on the West Africa-China route reached $278,057 per day, gaining nearly $135,000 in 24 hours last Friday. Suezmax Tanker Spot Rates 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 80,000 90,000 100,000 Q1 Q2 Q3 Q4 / Day Source: Clarksons (Suezmax Global Average) 2013 2014 2015 Last Update: September 4, 2015. AFRA system was created in 1954 by Shell Oil to standardise contract terms. As of April 16, data provided by VesselsValue shows that of the 802 VLCCs on the water 60 are now being used as floating. by ShippingHerald Headlines, Shipping News, Tankers, The Wire, Top Stories. 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. A SuezMax is the largest tanker with a full cargo that can pass through the Suez Canal. Because the AFRAMAX range exists. The cost of shipping crude oil on a Suezmax from the Middle East Gulf to India jumped to about $200,000 per day by Friday, up from about $20,000 per day in the week before, according to shipbrokers. A classification used to describe a large portion of the global tanker fleet is AFRAMAX. The market level for our ships has improved to more than. Shipping analyst Poten & Partners see the impending 2020 sulphur cap driving tanker charter rates as owners are forced to use MGO. The deal is said to give Teekay one of the largest suezmax fleets in the world, adding the 12 new vessels to Teekay's already existing fleet of 10 Suezmax. "The Suezmax rates on the route from West Africa to the United Kingdom rose from $2,772 per day on April 20 to $8,339 per day on April 27. 2 million DWT and an average age of 3. Suezmax crude cargoes News and Updates from The Economictimes. Because the AFRAMAX range exists. SECONDHAND. Maersk Tankers’ Aframax pool provides enhanced commercial performance for owners with uncoated Aframax tankers and LR2s trading dirty petroleum products. Insiders buy NAT stock. , through the sale of a TML special purpose vehicle which holds the vessels (the "Transaction"). 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. The only positive has been the significantly improved Angolan schedule, which increased optimism among Suezmax owners. Acquisition Overview. 9k TEU Feeder < 3k TEU 2018. As a result, strong VLCC rates have allowed for upward movements in Suezmax rates. • Future: Suezmax tanker capacity, 1,000,000 bbls, savings $1. Our worldwide team delivers best-in-class performance in all three major deep sea markets - crude oil, 'clean' and 'dirty' petroleum products. Teekay Tankers has inked deals to sell three suezmax tankers and close a new five-year $533m revolving credit facility to refinance 31 vessels. Nordic American Tankers ( NAT ) only has Suezmax vessels in its fleet. This standard was established to standardize contract terms with well defined ship capacity. the week time charter equivalents have rocketed from around $30,000 per day to $250,000 per day with the period upon rates as high as WS 215 for long east runs and. Both ship types carry crude, and hence, the demand drivers are basically the same. Typically, a Suezmax has a draft that is at a maximum of 20. Looking at CR Weber's latest report, spot rates continue to ease a little. 00 per share issuable upon signing and (ii) a cash amount ranging from USD538 to USD547 million, payable upon the closing of the Transaction. Oil producers in North America have announced vast cuts in output, led by ConocoPhillips, ExxonMobil and Chevron. Fixed all dry bulk vessels on medium to long term charters at high charter rates. Load Port Data The Al Basra Oil Terminal, commonly referred to as ABOT, is a deep sea island offshore crude terminal located approximately 31 nautical miles SE of the Iraqi port of Al Faw. By the end of June, Suezmax spot rates on the benchmark TD20 West Africa-UK/continent route had fallen close to just USD10,000/day timecharter equivalent. Capacity: 10,500 gal. That's quite a decline from Q4's. com 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. LNG tankers are typically 850 feet in length (about the size of a Suezmax Tanker) and capable of carrying 120,000 cbms of liquefied gas. DNB Markets has acted as mandated advisor between the parties in the transaction. Aids • New Training for Vessel Pilots and Tug Captains • Supporting BCIT Testing and simulation • 2nd narrows channel dredging. Frontline to acquire ten Korean 2019-built Suezmax tankers all fitted with exhaust gas cleaning systems Transaction consideration to consist of (i) 16,035,856 ordinary shares of Frontline at an agreed price of USD 8. Our company MSA, having ISO-9001-2000 quality certificate is providing transit ship agency services for vessels Panamax, Suezmax, Bulk Carrier, tanker, Lng, Lpg, General Cargo, container and Cruise only for corporate companies of our country and worldwide in Turkish Straits with Istanbul Office and general charterers’ agency services for exporter and importer holding companies. 303 Monroe Ave NW Grand Rapids, MI 49503. There is a strong upward pressure on major Suezmax tanker-routes. Suezmax Wafr/Usac: ws 95-100 ($34k/day) Turkish Straits Delays: 2. High loading rates may cause significant overloading within a very short space of time. Shipping Intelligence Weekly - Sources, Methods & Definitions Clarkson Research Services 4 February 2015 Timecharter rates are cross checked with the timecharter matrices that both the tanker and bulk carrier broker desks publish each week. The all-time high Diamond S Shipping stock closing price was 17. 50% of Teekay Tankers. IHS Markit is your source for US and international engineering and technical standards, specifications, codes, and training materials in hardcopy of PDF download. Suezmax Rates in this sector have tumbled, not only due to the collapsing VLCC market, but also the lack of enquiry and the small armada of cargo free vessels sitting off Gibraltar waiting for their next opportunities for gainful employment. 3 metres, a beam of 48 metres, a depth of 23. com), we learn that the 30-year average rate for chartering a Suezmax oil tanker has been roughly $30,000 per day, but. There is a strong upward pressure on major Suezmax tanker-routes. Clarksons is the world's leading provider of integrated shipping services, bringing our connections and experience to an international client base. June 13th, 2017 19:48 GMT. "Suezmax" is a naval architecture term for the largest ship measurements capable of transiting the Suez Canal in a laden condition, and is almost exclusively used in reference to tankers. What does suezmax mean? Information and translations of suezmax in the most comprehensive dictionary definitions resource on the web. 5 s (unchanged) V activity has slowed while rates remain the same in the AG. Owners wince as suezmax spot rates slip below W90. 19: Hyundai * Summer DWT ** Length in meters *** Euronav takes from time to time participation in ships that are chartered in by Tankers International (the pool) of which consolidated position is presented here. 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. History 1700 1800 1900 Singapore office. Worldscale's definitive guide to tanker freight rates is now available on the Internet. Likewise, suezmax rates on the West Africa-China route reached $278,057 per day, gaining nearly $135,000 in 24 hours last Friday. With a recent. This Forecaster annual subscription package now includes FREE Monthly Supplements. Penfield Marine | Penfield Marine's next focus is on building a suezmax presence Penfield Marine has found a new front for expansion, telling TradeWinds that the shipmanager is laying the groundwork to take in the larger tankers by gearing up to add suezmaxes. The daily rates for very large crude carrier (VLCC) along the Middle East-Asia route have jumped to between US$160,000 and US$210,000 late last week as compared with between US$20,000 and US. Prior to 1967, a Suezmax was a maximum of 80,000 dwt. CEO of Nordic American Tankers, Herbjørn Hansson, points to several things indicating a rebound of the crude oil market. Ocean Tankers has a modern fleet of more than 100 oil tankers of various sizes. (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. Nordic American Tankers Ltd. Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company. Now the rates for VLCC are between $100,000 and $300,000 and Suezmax between $50,000 and $115,000 but the stock prices are lower. Suezmax owners’ earnings have surged by more than 350% on average worldwide since the beginning of September. The Suezmax class has found itself in a downward trajectory with little resistance offered. Location: ECI. This interest in small and medium nuclear power reactors is driven both by a desire to reduce the impact of capital costs and to provide power away from large grid systems. The maximum size of vessel to use the Average Freight Rate Assessment method for calculating shipping rates, these tankers. There is a strong upward pressure on major Suezmax tanker-routes. Strong market Improvement for NAT's Suezmax Tankers Nordic American Tankers on Monday stated that the spot rates for the company's Suezmax tankers are on the move. Oil prices fell for a third session on Wednesday, with U. Daily rates on main tanker routes as compiled by shipbroker Charles R. “As Suezmax values have risen and newbuilding delivery timelines extended into 2021 in the period since its granting, the option is presently well in-the-money and accretive to NAV,” OET said. Suezmax rates in WAF surged last week on the back of a jump in cargo volumes for 2nd decade June. Nordic American Tankers Ltd. Suezmax owners’ earnings have surged by more than 350% on average worldwide since the beginning of September. Stena Sonangol Suezmax Pool is a unique joint venture between Stena Bulk, a leading innovative tanker Owner, and Sonangol, the Angolan public sector energy company. the week time charter equivalents have rocketed from around $30,000 per day to $250,000 per day with the period upon rates as high as WS 215 for long east runs and. Our company MSA, having ISO-9001-2000 quality certificate is providing transit ship agency services for vessels Panamax, Suezmax, Bulk Carrier, tanker, Lng, Lpg, General Cargo, container and Cruise only for corporate companies of our country and worldwide in Turkish Straits with Istanbul Office and general charterers’ agency services for exporter and importer holding companies. Olivia Konotey-Ahulu. After deduction of operational expenditures (OPEX), bunker cost and capital expenditures (CAPEX), all crude oil tanker spot fixtures made in Q4-2018 were profitable. More Options and routes. Suezmax rates showed much smaller and less dramatic drops, falling between 17% and 25%, while aframax earnings continued to rise, reflecting the trickle-down impact of the recent heat on the larger tanker sizes. Tsakos Energy Navigation (TEN) has announced the charter with profit sharing provisions of one suezmax tanker for 18 months to a major oil concern. Why Oil Tanker Stocks Are the Hottest Spot in Energy Today Suezmax is up 114% and 359%. MALACCAMAX: The maximum hull form using the maximum draught permissible to pass through the Strait of Malacca in Malays. The maximum size of vessel to use the Average Freight Rate Assessment method for calculating shipping rates, these tankers. Plus, contrasting gas market signals from both sides of the Atlantic, Brazilian corn exports under pressure and more, in S&P Global Platts editors’ pick of key trends in energy and commodities this week. 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. Since our last week three weeks ago, crude tanker rates have softened with VLCC and Aframax average spot rates at approximately $12,000 pd and Suezmax tankers at approximately $16,000 pd, on the back of weak trading activity. A Suezmax is the largest type of oil tanker that can pass through the Suez Canal. 5 million for a 5 year old) and the spot market rate is about $60,000 per day. As of April 16, data provided by VesselsValue shows that of the 802 VLCCs on the water 60 are now being used as floating. Vitol is listed as that shipment's charterer. "The second quarter was dominated with one of the […]. DryShips Inc. In 2005, when the vessel rates peaked, Essar sold its five Suezmax tankers at the price at which they were bought in 1994. Weber Company, Inc. "Teekay Tankers will become one of the largest owners of modern Suezmax tankers at the right point in the tanker market cycle when positive market fundamentals support continued strength in spot tanker rates," Kevin Mackay, CEO at Teekay Tankers. Tanker demand and freight rates are usually a reliable metric of oil demand patterns and trends. Email: [email protected] Shipping Intelligence Weekly - Sources, Methods & Definitions Clarkson Research Services 4 February 2015 Timecharter rates are cross checked with the timecharter matrices that both the tanker and bulk carrier broker desks publish each week. This compares with the most recent peak, in late 2015, of more than USD35,000/day.
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