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Tuesday, January 23, 2018

MARKET INFORMATION

MARPOL 13G revision – consequences for the tanker fleet

2,218 single-hull tankers (5,000 dwt and above) totalling 175.3 million dwt will need to be phased out in the period 2003 to 2015, according to the revised MARPOL 13G regulation. Pre-MARPOL tankers trading beyond 2005 and MARPOL tankers trading beyond 2010 need to comply with the Condition Assessment Scheme (CAS), which in practice is a strengthening of the Class 5th Enhanced Special Periodical Survey.  Initially there seemed to be some confusion in that CAS was believed by some to be a watering down of the phase out scheme, whereas in reality it was created to ensure appropriate standards of tankers until the end of their lifetime.

30% of the VLCC fleet, 26% of the Suezmax fleet, 30% of the Aframax fleet and 35% of the Handysize fleet will be phased out in the period 2003 to (and including) 2007 according to the anniversary date of the individual ship. The fleet figures used included tankers used for storage and converted tankers, consequently these figures have been reduced by 12 VLCCs and 5 Suezmaxes either recently scrapped, used for storage or converted.

Please click here for an overview and analysis 

 

US oil stocks increasing – still lower than last 5 year average - EIA

The US stock level of 318.2 million barrels on 27 April was 1.1% lower than the 5-year average, but 5.3 percent higher than this time last year. Crude oil refinery inputs fell to about 15.8 mbd, while crude oil imports climbed to 10.3 mbd.

 

OECD crude oil imports up 2% in 2000 - OECD

Total crude oil imports to the OECD area increased by 2.1% to 1,535 million tones (30.3 mbd) in the year 2000, according to the OECD monthly survey.  January 2001 imports were at 32.0 mbd.

N American oil imports up 3% to 550 mil tonnes or 11.1 mbd - January 2001 imports at 10.9 mbd.

OECD Pacific oil imports flat at 362 mil tonnes or 7.3 mbd - January 2001 imports at 7.8 mbd.

OECD European oil imports up 2.6% to 622 mil tonnes or 12.5 mbd - January 2001 imports at 13.3 mbd.

Oil Product imports up 5% in 2000 - OECD

Total oil products imports to the OECD area increased by 5.3% to 408 million tonnes (8.2 mbd) in the year 2000, according to the OECD monthly survey.  January 2001 imports were at 9.0 mbd.

N American oil imports up 5.8% to 90 mil tonnes or 1.8 mbd - January 2001 imports at 2.8 mbd.

OECD Pacific oil imports up 3.5% to 79 mil tonnes or 1.6 mbd - January 2001 imports at 1.7 mbd.

OECD European oil imports up 5.7% to 239 mil tonnes or 4.8 mbd  - January 2001 imports at 4.5 mbd.