Not Logged In, Login,

Thursday, September 20, 2018

MARKET INFORMATION

Average July 2001 tanker spot freight rates slightly up from June

The average spot freight rates (time charter equivalent rate) for VLCCs (trading AG-Japan) went up to USD 21,624 per day for a modern vessel; this is up 12.7% from the average of June 2001. The corresponding rate for a modern Suezmax trading West Africa to US went up to USD 30,125 per day or up 28.7%. For a modern Aframax tanker trading North Sea to UK/Cont. the average rate for July 2001 was USD 29,511, up 67.5% from the low level obtained in June. The average monthly rates for these three trades had been steadily declining from March to June 2001.

For the two clean trades that INTERTANKO is registering, the freight levels in July were down from June 2001. For a modern product tanker trading clean cargoes in the 30,000 tonne range from Caribs to the U.S. the average time charter equivalent rate in July was USD 15,973 per day down 12.2% from the average of June. For a modern product tanker transporting a 33,000 tonne clean cargo from Europe Cont. to the US the average rate for July 2001 was USD 14,042 per day, down 28.3% from the average June level. The average monthly rates for these two trades have been declining since May 2001.

Please click here to view development in monthly average freight rates Jan. 2000 to July 2001

End July 2001 U.S. crude oil inventories 11% higher than same period last year – EIA reports

According to the US Energy Information Administration (EIA), US crude oil stocks as of 27 July 2001 are 11.1% higher than for the same time in 2000. However, the stock level is nearly identical to the five-year average.

US crude oil imports averaged 8.9 mbd during the week ending 27 July 2001; this is the first time in six weeks that the US crude oil imports have fallen below 9 mbd. However, US crude oil imports averaged 9.1 mbd during the first half of 2001, which is the highest first half-year average recorded and 5% above the same period last year.

US oil product imports averaged 2.7 mbd during the first half of 2001, also the highest first half-year average recorded and 26% above the same period in 2000.

Please click here to view link to U.S. oil imports development