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Sunday, July 22, 2018

MARKET INFORMATION

International Conference on Tankers at Sarnico, Italy - 7-8 October

Erik Ranheim, as a guest of Tamoil, will talk about the changing conditions in the tanker market at a two-day seminar in Sarnico on 7-8 October. His presentation will include the phase-out of single hull tankers, consolidation, and the tanker market's increasing dependence on eastern markets. We expect to see several members at the conference.

Contact: Erik Ranheim if you would like to participate

Russian pipeline to China - Itar-Tass

The Baikal area is preparing for the construction of an oil pipeline between Russia and China. The city of Angarsk, where it will begin, has started building four tanks with a total capacity of 30,000 tonnes and a transit trestlework. For this purpose, USD 18 mil were appropriated, Tass learned on Friday at the Irkutsk office of the YUKOS oil company. The oil pipeline, an intergovernmental agreement on the construction of which was signed early in September, will be a continuation of the operating Omsk-Angarsk trunk pipeline. It will cross the Trans-Baikal area from Angarsk to the city of Daqing in north-eastern China. The Russian companies YUKOS and Transsneft as well as the Chinese Oil Company are working on the project and they will then actively participate in its implementation.

According to the plan, China will receive 20 million tonnes of oil annually at the initial stage (2005-2009), mostly from Western Siberia. Starting from 2010, the volume of deliveries will rise to 30 million, thanks to the development of deposits in the Krasnoyarsk Territory, Yakutia and the Irkutsk Region. The annual export of crude from Russia to China by rail is no more than one mil ts (0.02 mbd) for the time being.

Source: IRKUTSK, Eastern Siberia, Sep 21, 2001 (Itar-Tass via COMTEX) via NewsEdge Corporation.