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Friday, September 21, 2018


Reflections from Athens Market Seminar

At the Athens Market Seminar last week, Erik Ranheim looked at the relation between safe transport, clean seas and free competition.

Proficient quality is hard to obtain without an understanding of market forces and the use of market forces. Firstly, it has to be accepted that free and fair competition and a perfect market in economic terms assume that everybody plays according to the same rules. Secondly, these rules and standards have to reflect society's requirements with regard to safety and environmental protection. These requirements should be crystal clear to avoid abuse by those who would cut costs by lowering standards and last but not least, there must be a system that ensures that the good standards are maintained and the rules complied with.

Web links: for the full article 'Reflections from the Athens Market Seminar'

And for Erik Ranheim's Athens presentation

US oil imports still above last year - API

US crude oil imports January to June 2001 were above the 2000 level in each month. However, crude oil imports during 3rd quarter were below the 2000-year level for each month. Crude oil imports in August 2001 were about 1.0 mbd below the August 2000 level and the September 2001 level was 0.3 mbd below that of September 2000. Crude oil imports Jan-Sept. 2001 were record high, 0.10 mbd above the Jan-Sep. 2000 level.

The highest US crude oil imports ever - 9.484 mbd - were recorded in August 2000.

US product imports declined dramatically from 3.33 mbd in January 2001 to 2.12 mbd in August, increasing slightly to 2.24 mbd in September 2001. Products imports Jan-Sept. 2001 were also record high, 0.21 mbd above the Jan-Sep. 2000 level.

US crude oil stocks rising - EIA

Crude oil stocks rose 2.5 million barrels (MMB) to end the week at 308.3 MMB. As of 26 October, crude oil stocks were 10.9 percent higher than last year, and 0.8 percent higher than the five-year average.

Distillate inventories rose 0.4 MMB to 127.9 MMB by 26 October 2001 and are within their normal seasonal range. Individually, diesel fuel inventories increased 0.4 MMB to 70.7 MMB and heating oil inventories rose 0.1 MMB to 57.3 MMB. Total inventories ended the week 11.2 MMB higher than last year's unusually low level.

Total motor gasoline stocks at the primary storage level were 18.6 MMB above the level for the same week last year.

Japanese oil imports steady - Petroleum Association of Japan

Japanese oil imports peaked in 1997 at 4.72 mbd crude oil imports and 0.62 mbd products imports. Since then Japanese crude oil imports have steadily declined and the imports Jan-Sept. 2001 comprised 4.31 mbd crude oil imports and 0.62 mbd products imports. Crude oil imports in September 2001 were 0.4 mbd below that of September 2000.

European oil imports steady - OECD/IEA

European crude oil imports (including intra-European trade) declined to 11.7 mbd in July, the lowest level since 3Q97. Crude oil imports Jan-July 2001 were 12.29 mbd compared to 12.32 mbd Jan-Jul 2000. Crude oil imports to Europe have on average been highest in November and December. European crude oil imports from the Former Soviet Union (FSU) increased from about 1.0 mbd in 1993, to 1.6 mbd in 1997, 2.4 mbd in 2000 and 2.8 mbd in the 2nd quarter of 2001. IEA project FSU oil production to increase by 0.6 mbd in 2001 and 0.5 mbd in 2002.

European products imports increased to 5.2 mbd in July, the highest level recorded. Products imports Jan-July 2001 were 8.80 mbd compared to 8.86 mbd Jan-Jul 2000. Products imports to Europe have on average been highest in November and December. oil imports.XLS oil imports.XLS

Simpson, Spence and Young World Tanker Trends

"World Tanker Trends" is one of the oldest series of tanker reports, previously issued by J.I. Jacobs.

This report has traditionally been INTERTANKO's source for ascertaining type of ownership. SSY split tanker ownership into 9 categories, the largest being the independent owners covering about 73% of the world tanker fleet. Government agencies plus shipping companies own some 13% looking at the number of tankers, and 7% of the dirty tanker dwt. Looking at the number of clean tankers government oil companies have the largest share (10%) together with a 7% share of the dirty tanker fleet. Major oil companies also have the largest share (4%) in the dirty segment. Other oil companies have a 6% share in this segment. Adding all oil interests gives a 17% share in the dirty tanker segment and 14% in the clean tanker segment.

SSY have recorded an orderbook of 62 mil dwt (388 ships) in their half-year report, 50 mil dwt (197 ships) dirty tankers, 10 mil dwt (139 ships) clean and 2 mil dwt (52 ships) chemical and specialised tankers. In dwt terms the Greek owners stand for 30% of the orderbook, Japanese 9% and Norwegian owners 7.5%. In number of ships, Greek owners stand for 34% of the orderbook, Japanese 10%, Norwegian owners 7.5%, and Italian 16% (6% in dwt terms). Greek owners also have 32% of the clean orderbook Italian owners 26%, and Danish owners 15%.

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