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This year, tanker rates have already increased to levels we would typically expect months from now. Tanker Stocks Continue Bucking the Market's Downtrend Skip to main content
The market is affected by a wide variety of variables such as the supply and demand of oil as well as the supply and demand of oil tankers. Some particular variables include winter temperatures, excess tanker tonnage, supply fluctuations in the Persian Gulf , and interruptions in refinery services.
Worldscale was established in November 1952 by London Tanker Brokers' Panel on the request of British Petroleum and Shell as an average total cost of shipping oil from one port to another by ship. A large table was created as result. The same scale is used today, although it was merged with the American Tanker Rate Schedule (ATRS) in 1969.
Options trading in the dry market hit an all-time high of 409,255, up 25% on the previous year. The most heavily traded contract was settled against the Baltic Exchange's panamax timecharter assessment (PTC) which saw 1,202,432 lots traded in 2021. Tanker FFA volumes were down 16% on the previous year, reaching 553,535 lots.
It was October 2019, just six months ago, but ancient history for tanker trades. Rates for very large crude carriers (VLCCs, tankers that carry 2 million barrels of crude oil) spiked to $200,000 ...
Boeing Co. (BA) is facing another setback as the U.S. Air Force has delayed by four years a decision on whether its $44 billion KC-46 tanker program should be approved for full-rate production ...
External research concluded that the contribution of the various dry bulk vessel types to the dry bulk market was 40% Capesize, 25% Panamax, 25% Supramax and 10% Handysize. This analysis was based on the fleet composition, vessel utilisation including ballasting and total cargo moved – based on import/export reports and AIS data, the BDI ...
Conflicting reports of promises to increase OPEC output to compensate for embargo of Iraq and Kuwait oil further compound market uncertainties. Aug 2: Iraq invades Kuwait. Bush orders troops to Saudi Arabia. Aug 27: Market prices plunge as OPEC nears informal agreement to increase output to cover 4 Mbbl/d (640,000 m 3 /d) shortfall due to ...