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Sunday, May 19, 2013

Tanker news

Published	Article
13.05.2013	Oil tanker trade growth is fastest in a decade - FT/ICAP Financial Times says that o il tanker trade is growing at its fastest rate in a decade as the boom in US production forces exporters that in the past supplied the American market to seek new customers further afield. The number of oil tonne-miles – a proxy for the global oil trade that captures both the volume traded and the distance travelled – surged last year by almost 10 per cent to a...... Login to view this article
07.05.2013	VLCCs - 30% oversupply - BraemarSeascope BraemarSeascope said in their weekly report 2 May: Despite the significantly increased activity from charterers and a bottleneck of cargoes for AG loading VLCCs, very little progress was actually made this week, and certainly no money. Some will congratulate owners for moving the AG/East market up from last week’s levels of ws32.0 to ws35.0, but realistically we are nowhere near where the tradi...... Login to view this article
03.05.2013	Saudi welcomes rapid rise in US oil Output – OPIS/Reuters OIL PRICE INFORMATION SERVICE reports that The oil minister of Saudi Arabia, Mr. Ali al-Naimi welcomes the U.S. decision to raise output but adds that the boom in new global output may hold the kingdom’s production at current levels until the next decade. The US crude output has jumped to its highest level in the past 20 years and will add stability in global oil markets, Naimi says. However,...... Login to view this article
24.04.2013	China's March crude oil stocks up 2.2 pct - Bunker Ports News/Xinhua China's crude oil inventories rose 2.2 percent month on month by the end of March, while stocks of refined oil products fell 1.8 percent in the same period, according to a monthly data report released by the Xinhua News Agency. Gasoline and kerosene stocks surged 1.37 percent and 6.62 percent by the end of March, respectively, while that of diesel was down 4.97 percent from February, the data...... Login to view this article
24.04.2013	Natural gas threatens a quarter of world's oil demand - Citi Group Abundant and relatively cheap supplies of natural gas threaten almost a quarter of total world oil demand, Edward Morse, global head of commodity research for Citi Group, said Tuesday. Citi has identified an estimated 20 million barrels/day (mbd) of world oil demand which could be replaced by demand for natural gas-based fuels, including 12 mbd of oil demand from the transport sector, said...... Login to view this article
24.04.2013	Oil investments, producer governments need $100/b price- Total Crude oil prices at "roughly" $100/barrel are required for future upstream investments in unconventional oil production as well as for the sustainability of producer governments, Xavier Preel, vice president for Middle East E&P at France's Total, said Tuesday. Speaking at the Middle East Petroleum and Gas Conference in Abu Dhabi, Preel said that without the relatively high oil prices since 2005...... Login to view this article
18.04.2013	Fuel subsidies are the single biggest item on the Nigeria’s budget -OPIS According to OIL PRICE INFORMATION SERVICE (OPIS) 400,000 b/d refinery to be built in Nigeria Africa's richest man, Aliko Dangote, plans to invest up to $8 billion to build a Nigerian oil refinery with a capacity of around 400,000 b/d by late 2016, almost doubling Nigeria's refining capacity. The country currently has the capacity to produce some 445,000 b/d from its refineries, 110,000 b/d...... Login to view this article
17.04.2013	Jamnagar Refinery utilization rate 110% - Reliance Indian refining and petrochemical giant Reliance Industries reported Tuesday a 33% increase in its gross refining margin for the January-March quarter to $10.10/barrel. Reliance said refining margins for the full financial year ended March rose 7% to $9.20/b from $8.60/b in the previous year, the highest in the last four years. Reliance, India's largest private refiner, said crude processing ...... Login to view this article
17.04.2013	NnB expects tanker utilisation (speed adjusted) to fall from 90% in 2012 to 86% in 2013 and 2014, NnB expects tanker utilisation (speed adjusted) to fall from 90% in 2012 to 86% in 2013 and 2014, but pick up to 87% in 2015. They forecast 3% conventional fleet growth for 2013, down from 5% in 2012, before falling further to 1% in 2014 and negative growth of 1% in 2015. We assume US crude oil imports will decline 0.55 mbd annually, mainly due to increased US shale oil production, of which...... Login to view this article
11.04.2013	OPEC oil Supply and Sustainable Production Capacity and Spare Capacity - IEA OPEC oil Supply and Sustainable Production Capacity and Spare Capacity Jan 2013 Feb 2013 Mar 2013 Sustainable Production Capacity [i] Spare Capacity vs Mar 2013 Supply 1Q13 Average Crude Supply 1Q13 Vs 1Q12 Volume Change Algeria 1.16 1.16 1.14 1.19 0.05 1.15 -0.01 Angola 1.77 1.73 1.77 1.82 0.05 1.76 -0.01 Ecuador 0.50 0.50 0.50 0.52 0.02 0.50 0.12 Iran 2.65 2.72 2.68 3.01 0.33 2.68 -0.69 Ira...... Login to view this article

Published

Article

13.05.2013

Oil tanker trade growth is fastest in a decade - FT/ICAP

Financial Times says that o il tanker trade is growing at its fastest rate in a decade as the boom in US production forces exporters that in the past supplied the American market to seek new customers further afield. The number of oil tonne-miles – a proxy for the global oil trade that captures both the volume traded and the distance travelled – surged last year by almost 10 per cent to a...... Login to view this article

07.05.2013

VLCCs - 30% oversupply - BraemarSeascope

BraemarSeascope said in their weekly report 2 May: Despite the significantly increased activity from charterers and a bottleneck of cargoes for AG loading VLCCs, very little progress was actually made this week, and certainly no money. Some will congratulate owners for moving the AG/East market up from last week’s levels of ws32.0 to ws35.0, but realistically we are nowhere near where the tradi...... Login to view this article

03.05.2013

Saudi welcomes rapid rise in US oil Output – OPIS/Reuters

OIL PRICE INFORMATION SERVICE reports that The oil minister of Saudi Arabia, Mr. Ali al-Naimi welcomes the U.S. decision to raise output but adds that the boom in new global output may hold the kingdom’s production at current levels until the next decade. The US crude output has jumped to its highest level in the past 20 years and will add stability in global oil markets, Naimi says. However,...... Login to view this article

24.04.2013

China's March crude oil stocks up 2.2 pct - Bunker Ports News/Xinhua

China's crude oil inventories rose 2.2 percent month on month by the end of March, while stocks of refined oil products fell 1.8 percent in the same period, according to a monthly data report released by the Xinhua News Agency. Gasoline and kerosene stocks surged 1.37 percent and 6.62 percent by the end of March, respectively, while that of diesel was down 4.97 percent from February, the data...... Login to view this article

24.04.2013

Natural gas threatens a quarter of world's oil demand - Citi Group

Abundant and relatively cheap supplies of natural gas threaten almost a quarter of total world oil demand, Edward Morse, global head of commodity research for Citi Group, said Tuesday. Citi has identified an estimated 20 million barrels/day (mbd) of world oil demand which could be replaced by demand for natural gas-based fuels, including 12 mbd of oil demand from the transport sector, said...... Login to view this article

24.04.2013

Oil investments, producer governments need $100/b price- Total

Crude oil prices at "roughly" $100/barrel are required for future upstream investments in unconventional oil production as well as for the sustainability of producer governments, Xavier Preel, vice president for Middle East E&P at France's Total, said Tuesday. Speaking at the Middle East Petroleum and Gas Conference in Abu Dhabi, Preel said that without the relatively high oil prices since 2005...... Login to view this article

18.04.2013

Fuel subsidies are the single biggest item on the Nigeria’s budget -OPIS

According to OIL PRICE INFORMATION SERVICE (OPIS) 400,000 b/d refinery to be built in Nigeria Africa's richest man, Aliko Dangote, plans to invest up to $8 billion to build a Nigerian oil refinery with a capacity of around 400,000 b/d by late 2016, almost doubling Nigeria's refining capacity. The country currently has the capacity to produce some 445,000 b/d from its refineries, 110,000 b/d...... Login to view this article

17.04.2013

Jamnagar Refinery utilization rate 110% - Reliance

Indian refining and petrochemical giant Reliance Industries reported Tuesday a 33% increase in its gross refining margin for the January-March quarter to $10.10/barrel. Reliance said refining margins for the full financial year ended March rose 7% to $9.20/b from $8.60/b in the previous year, the highest in the last four years. Reliance, India's largest private refiner, said crude processing ...... Login to view this article

17.04.2013

NnB expects tanker utilisation (speed adjusted) to fall from 90% in 2012 to 86% in 2013 and 2014,

NnB expects tanker utilisation (speed adjusted) to fall from 90% in 2012 to 86% in 2013 and 2014, but pick up to 87% in 2015. They forecast 3% conventional fleet growth for 2013, down from 5% in 2012, before falling further to 1% in 2014 and negative growth of 1% in 2015. We assume US crude oil imports will decline 0.55 mbd annually, mainly due to increased US shale oil production, of which...... Login to view this article

11.04.2013

OPEC oil Supply and Sustainable Production Capacity and Spare Capacity - IEA

OPEC oil Supply and Sustainable Production Capacity and Spare Capacity Jan 2013 Feb 2013 Mar 2013 Sustainable Production Capacity [i] Spare Capacity vs Mar 2013 Supply 1Q13 Average Crude Supply 1Q13 Vs 1Q12 Volume Change Algeria 1.16 1.16 1.14 1.19 0.05 1.15 -0.01 Angola 1.77 1.73 1.77 1.82 0.05 1.76 -0.01 Ecuador 0.50 0.50 0.50 0.52 0.02 0.50 0.12 Iran 2.65 2.72 2.68 3.01 0.33 2.68 -0.69 Ira...... Login to view this article