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Wednesday, October 17, 2018


We are pleased to note that the market information on our web site is visited regularly by the membership and last week 135 members and associate members accessed these pages.

Market pages on web site on provide useful information to the membership

The web site is still under development however your comments and ideas for development of the market pages would be much appreciated.  This week we have published a number of time series on tanker trade, supply and demand and rates that you may find useful. If you experience problems to access the web site or require your membership password, please contact the web master who will be pleased to assist you:


The five largest oil companies as per October 2000

Oil major           Capitalisationoil/gas prod.   refining capacity
ExxonMobilUSD 315 billion4.40 mbd        6.5 mbd (8% share)
ShellUSD 220 billion     3.64 mbd        4.0 mbd
BP USD 207 billion     3.29 mbd        3.3 mbd
TotalFinaUSD 112 billion     2.13 mbd         2.4 mbd (3% share)
ChevronTexaco USD  85 billion      2.71 mbd        3.1 mbd

As a comparison the capitalisation of Frontline is some USD 1.30 billion and Bergesen USD 1.37 billion.

World scale to T/C equivalent conversion on the web

A conversion spreadsheet for Worldscale to T/C equivalents for selected trades is now available to download on the INTERTANKO tanker market pages:

Tanker tonnage demand to rise by 3.5% in 2001 says Fearnleys

In their comprehensive Oil Tanker Market Quarterly Report No.3/2000, Fearnleys expect tanker tonnage demand to increase by 3.1% this year and 3.5% in 2001. This forecast is for the tanker fleet of 50,000 dwt and above including combination carriers. Fearnleys expect the tanker fleet to increase by 3.2% in 2001 and by as much as 5.0% in 2002.

November VLCC fixtures are set to be  record high according to Marinav Geneva

Our Tanker Market pages on the web show that already 129 fixtures VLCC are made with laycan Persian Gulf/Red Sea for November, which is the highest in five years.

For further details on the market information, please contact or

“E-com”- just another way to do the same?

Per Heidenreich, Heidenreich Marine, responded to last week’s Weekly NEWS article on e-commerce, where we questioned whether e-commerce was just a white elephant by saying that he had reached that conclusion quite some time ago.  He felt that B2B (business-to-business) for chartering may be good for small owners but will likely get little or no support from large owners or pools. Such owners and pools have quick and very often direct communication via e-mail or phone with few, if any, intermediaries.  Mr Heidenreich said it was difficult to envisage that any portal will be able to come up with a system that will give incentives to such owners/pools to change. The large oil companies or oil traders are unlikely to change either. Despite this, there could be a change if a portal emerged that was far superior to what we have seen so far and which would include position lists, market info etc. However, as long as the majority of fixtures are done on a private basis, the .com companies will have a hard time penetrating and changing the present system of fixing cargoes.

Peter Brandt from commented that does not seek to replace the current way of doing business but aims to enhance the process with the application of new tools.  To quote Per Brandt from "With laycan ASA's system you read the market, communicate to your desired counterparts, negotiate, fix and operate, exactly the way you do today, except faster and more accurately.", according to Lloyd’s List is backed by Enron, Frontline, Stena and Transpetrol, and is anticipating a public listing in 2001. encourages brokers to use the system as a means of continuing to do business as today.

Tony Amriati of Fearnleys believes that it will be a long time before tankers are fixed on the internet for three reasons:

1. It would be too complicated due to lack of a standard charter party or a standard set of clauses.

2. Some 90 percent of all cargoes are private and this fact does not lend itself to trading on a public medium. 

3. The majority wish to consult tanker brokers in person for professional advice.

However Mr Amriati believes that Internet portals could still eliminate many time-consuming tasks such as position lists, vessel questionnaires, and basic operational procedures.

Johan Dicksved of Stockholm Chartering finds it fascinating that so many well paid and highly regarded management consultants and representatives from the capital markets/investment banks have swallowed the bait of e-commerce. He said that it appears they have forgotten their business school education with respect to business habits, relations, value added etc. which appear to have been overlooked in the blind faith that everyone will do everything on the internet. Johan Dicksved refuted the view that the brokering community was self-protective and reactionary in not going on-line with their brokering. It is not due to fear of something new or a belief that it would mean loss of business, but simply the fact that it does not add any value.  He said that a group e-mail address-book does the job more efficiently. It will be interesting to see how long the many ship-fixing sites now launched survive before their financiers tire of burning money.

E-commerce may, then, only replace the current way of communication with a more formalised system. We still believe that if internet portals are established as gateways to tanker chartering, it may also gradually change the chartering process.  We await further comments from members and associate members.