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Saturday, October 20, 2018

Focus on aframaxes - Part 2

Excluding the combination ships, Fairplay lists some 368 aframaxes with double hulls, 78 with double bottom or sides. This means that only some 27% of existing ships are single-hulled. By end 2005 more than 65% will be double-hulled.

If we look at the phase-out of aframaxes, 43 of the trading ships have already been denied access to the US (except dedicated lightering areas and LOOP), while EU denied access to 63 as from 21 October. Only 5 (plus 11) are due for phase-out this year (and next) according to MARPOL. If IMO decides to adjust again to a new international phase-out regime, 67 will have to go in the implementation year 2005.

Year

Current phase-out schemes

Possible compromise in IMO

OPA90

MARPOL

EU

Max 20

Max 23

Max 25

2002

43

 

 

 

 

 

2003

26

5

63

5

5

5

2004

26

11

14

11

11

11

2005

10

13

6

67

67

67

2006

7

39

2

2

2

2

2007

1

35

18

18

18

18

2008

8

4

4

4

5

5

2009

12

7

7

7

7

7

2010

56

3

87

69

36

22

2011

1

17

10

19

19

22

2012

2

22

13

19

21

15

2013

9

16

4

4

19

13

2014

10

13

6

7

15

14

2015

44

70

21

23

30

54

Total no. of tankers

255

255

255

255

255

255

We have recorded 29 aframaxes sold for decommissioning so far in 2003 ranging from 21 to 35 years: 14 were older than 25 years, 9 were 23 years old and 4 were 22 years old. The average age was 25 years.

The aframax tanker is a most versatile crude oil carrier, which is also frequently used in the product trades. There are therefore a multitude of aframax trades. However, there were two that were dominant: Caribbean to N America East/Gulf representing 27% of the aframax trade and intra NW Europe, representing 16% of total. (The total trade from the Caribbean areas was some 29% of the total aframax trades.) Trades to Europe/Mediterranean represented some 34% of the market, and trades to N America about 30% of the market. The three biggest aframax trades were:

1.             Caribbean to N America E/Gulf            218 m dwt          27% of total

2.             NW Europe to NW Europe                  128 “                 16% “

3.             N Africa to Mediterranean                   77 “                 10% “

Please click here to view a graph on Aframax trades