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Saturday, October 20, 2018


Accidental oil pollution from tankers continues to decline ITOPF

ITOPF has updated its accidental pollution figures from tankers for 2000.  The figures show that pollution has declined from 24,000 tonnes in 1999 to 12,000 tonnes in 2000 (2,000 ts more than INTERTANKO previously had estimated).  The number of small spills (7-700 tonnes) has declined by 1 to 18 and the number of large spills (above 700 tonnes) by 2 to 3 spills.  Please click here to view the development of pollution trends.

US short term energy outlook, domestic production increasing in 2002 (EIA)

US revised its short term outlook 6 July.  Until now US oil production has been declining steadily to 5.82 mbd in 2000.  EIA project the oil production to stay at this level this year, but increase marginally to 5.86 mbd in 2002.  Oil imports are still expected to increase by 0.36 mbd this year and by 0.23 mbd in 2002 to 11.01 mbd. US oil consumption is expected to increase to 20.18 mbd in 2002, an increase of 0.28 mbd over 2000. Much of the growth of 0.57 mbd in 1Q this year is attributed to the switch to petroleum from mainly gas in the power-generation sector. In 2Q the demand increase was recorded to be only 0.15 mbd, and growth is expected to be less than 0.07 mbd during the second part of the year. For 2002 stronger economic growth is expected to offset some anticipated reversal of fuel switching seen in early 2001.

US economic growth is projected to slow down from the 5% increase in 1999-2000 to 1.8% this year and 2.5% in 2002 over 2001.

World oil demand is expected to increase by 1.2% in 2001 and a further 1.4% in 2002 to 78.1 mbd.  Non-OPEC oil supply is expected to increase by 0.9 mbd both this and next year to 47.8 mbd in 2002.

Source: Energy Information Administration

Declining crude oil stocks  Increasing distillate stocks – EIA

Crude oil stocks fell 2.9 million barrels (MMB) to end last week at 307.8 MMB. As of 6 July, crude oil stocks were 6.4% higher than at the same time last year but 3.0% lower than the five-year average. Crude oil inputs stayed static at 15.8 million barrels per day (MMBD), and crude oil imports fell to 9.3 MMBD.

Steady distillate production and lower demand combined to increase inventory levels despite a drop in imports. Total distillate stocks, increasing for the fourth straight week, climbed to 116.4 MMB on 6 July 2001, 8.7% above the year-ago level. Inventories rose 3.6 MMB above the previous week and were 9.3 MMB higher than last year. Diesel fuel inventory was 70.2 MMB, rising 2.6 MMB from last week and 1.8 MMB more than last year. Heating oil stocks rose to 46.2 MMB, 1.1 MMB more than last week and 7.6 MMB higher than last year.

Greeks 35% of current tanker orderbook – 563 tankers, 57.3 mil dwt

Greek owners represent some 35% by dwt of the June chemical and oil tanker orderbook, other European owners represent some 23%, Asian owners 12%, and Japanese owners 13%.

Looking at the number of ships, the Greek owners represent some 27% of the June chemical and oil tanker orderbook. Other European owners represent some 36%, Asian owners 10%, and Japanese owners 7.5%.

The largest orderbooks by owner are Hellespont Steamship with 8 tankers of 2,972 mil dwt, National Iranian Tanker Company with 8 tankers of 2,402 mil dwt, Nippon Yusen Kaisha with 7 tankers of 2.096 mil dwt. The largest orderbook by number of tankers is Thenamaris with 12 tankers of 1,085 mil dwt.  Some 200 owners are listed with tanker orders, 70 with one on order and 52 with two ships on order.

The largest orderbooks by yard are Hyundai H.I with 50 tankers of 9.290 mil dwt, Daewoo H.I with 42 tankers of 8,217 mil dwt, Samho S.B. with 33 tankers of 5,660 mil dwt and Samsung S.B.  with 25 tankers of 5,601 mil dwt. Hyundai Mipo has the second largest orderbook by number of 45 tankers of 1,676 mil dwt.  The orderbook includes 88 yards with tankers on order including 23 yards with one tanker on order and another 35 yards with 2-5 tankers on their order books.

The orderbooks of South Korean yards include 248 tankers of 32 mil dwt or 56% of the orders (by dwt), those of Japan 27% (110 tankers of 15 mil dwt), of China 8% (56 tankers of 4 mil dwt) and of Croatia 4% (40 tankers of 2 mil dwt). Turkey is also building 27 tankers totalling 0.15 mil dwt.(Based on Clarkson Shipyard Review)