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Thursday, September 20, 2018

Persian Gulf/Red Sea spot fixtures 1999 - ULCCs loosing ground

Figures from Marinav in Geneva for different segments outline the number of reported spot fixtures from PG/Red Sea:

Figures from Marinav in Geneva for different segments outline the

number of reported spot fixtures from PG/Red Sea:

* ULCC fixtures declined to 118 in 1999, down from 172 in 1998 and 166 in 1997(ULCCs, the big losers in 1999).

* VLCC fixtures increased from 1,066 in 1998 to 1,072 in 1999.

* Smaller tankers fixed increased for the third consecutive year from 499 in 1997, to 624 in 1998, to 651 in 1999.

Cargo tonnes fixed from PG/Red Sea:

* Eastwards increased from 224 million ts (1,193 fixtures) in 1998 to 233 mil ts in 1999 (1,279 fixtures).

* Westwards on the other hand declined from 111 million ts in 1998 to 97 mil ts (374 fixtures) in 1999.

* To the Red Sea declined from 44 million ts (137 fixtures) in 1998 to 36 mil ts (127 fixtures) in 1999.

* To South Africa increased from 12 million ts (51 fixtures) in 1998 to 15 mil ts (61 fixtures) in 1999.

Oil export from the Middle East may probably increase by more than one million barrels per day in the year 2000. This would entail an increased demand almost 40 VLCCs Westwards and some 25 VLCCs Eastwards.

For further information please mailto:erik.ranheim@intertanko.com or visit INTERTANKO's web pages at http://www.intertanko.com