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Wednesday, January 17, 2018

The modern Suezmax fleet according to Johan G. Olsen

Johan G. Olsen has issued its Suezmax fleet list that not only lists the ships, but also the employment of the ships and the charterer. The publication lists 303 existing ships and 62 newbuildings (including 15 OBOS + 2 newbuildings).

Johan G. Olsen has issued its Suezmax fleet list, which not only lists the ships, but also the employment of the ships and the charterer. The publication lists 303 existing ships and 62 newbuildings (including 15 OBOS + 2 newbuildings). Oil or state-owned companies own 90 of the existing ships and in addition they control 44 ships which are on contract to 2004 and beyond. This means that some 56% of the Suezmaxes are owned by independent owners. The independent owners have 47 Suezmaxes on order of which 15 are fixed for 2004 and beyond. The four remaining oil majors, BPAmoco, ChevronTexaco, ExxonMobil and Shell, have a total fleet of 19 Suezmaxes plus 11 on period charter..

The biggest Suezmax owner is clearly Frontline with 29 Suezmaxes, including 6 OBOS. All the Frontline ships are, according to the report, in the voyage market. 12 of the tankers have double hulls and 2 double sides. Metrostar is the 2nd biggest operator in this market with 14 Suezmaxes, plus 2 newbuildings, 9 with double hulls and 4 with double sides; 4 are on period contracts. The third biggest operator is Sovcomflot with 11 Suezmaxes plus one newbuilding, one on period contract, all with double hulls.

Looking at 3-year periods, the largest number of Suezmaxes were delivered in the periods 1991-1993, and 2000-2002 (62 in both periods), only 5 were delivered 1985-1987, whereas 48 were delivered before 1982, when segregated ballast tanks became mandatory.

Excluding the combination ships, Fairplay lists some 178 Suezmaxes with double hulls, 13 with double bottom and 10 with double sides. This means that the single hull share is only 29% and the average age 9.6 years. The last single-hulled Suezmax tanker was delivered in April 1993

Contact: Erik Ranheim on email: erik.ranheim@intertanko.com