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Monday, September 24, 2018

MARKET INFORMATION

Average age of INTERTANKO member fleet below world average

The average age of the INTERTANKO member fleet is 13.5 years, which is below that of the total world tanker fleet of 14.8 years, and less than that of the world independent tanker fleet of 14.3 years.

Independent tanker fleet: 14.3 years on average
(Of which INTERTANKO: 13.5 years)
Oil company tanker fleet: 15.8 years
State owned tanker fleet: 18.5 years
State oil company tanker fleet: 14.9 years
Total fleet average: 14.8 years

For more information, see also the tanker fact sheet on our web at: http://www.intertanko.com/pubupload/FACTS001.DOC

VLCC spot fixtures down in October - E.A. Gibson

According to information received from E.A. Gibson Shipbrokers, VLCC spot fixtures out of both West Africa and the Persian Gulf declined in October 2001 compared to previous months.

The average number of VLCCs monthly spot chartered out of PG in 2000 was 108 whereas the average for the first 10 months of 2001 is 88, which is the same level as in the period 1997 to 1999.

VLCC liftings out of West Africa have also been reduced in recent months. However, the average number concluded monthly for the first 10 months of 2001 was 23, which is slightly up on the monthly average of 21 for last year. Except for a reduction in 1998, VLCC fixtures out of West Africa have been steadily growing since 1993.

For more information see spot fixtures out of West Africa at: http://www.intertanko.com/pubupload/WA%20liftings.xls

For more information on the spot fixtures our of the Persian Gulf see: http://www.intertanko.com/pubupload/PG%20liftings.xls

Global oil demand down third quarter 2001 - IEA

According to the 12 November IEA Oil Market Report, world oil demand was reduced by 0.75 mbd during the third quarter of 2001 - mainly due to the aftermath of the terrorist attack and the downturn in the world economy. OECD oil demand fell by 2.5% in September, which is the steepest decline this year. The IEA October world oil demand forecasts for 2001 and 2002 are unchanged in the November report, up 0.1 mbd in 2001 and 0.6 mbd next year.

World oil production in October was unchanged from that in September. OPEC 10 oil production fell by 0.35 mbd to 24.1 mbd, but still remained 0.92 mbd above the target of 23.2 mbd.

Asian oil demand may contract this year - PIW

According to the 12 November Petroleum Intelligence Weekly (PIW), Asian oil demand could possibly contract in 2001. Oil demand in the four largest consumers (Japan, China, South Korea and India) is down 2% or 0.245 mbd in the period January to September 2001. These four economies account for 80% of Asian oil demand. Asia contributed to 90% of the 2000 oil demand growth. Crude oil imports to China have shown the biggest decline of the four countries, down 7.8% or 0.1 mbd during the first 10 months of 2001, mainly due to record high oil inventories.

INTERTANKO MARKET PUBLICATION

INTERTANKO's new publication 'Current issues facing the tanker market with emphasis on the regulatory phase-out of single-hull tankers' is now available. In addition to its comprehensive analysis of the single-hull tanker phase-out, the new INTERTANKO market publication also gives overviews of tanker contracting, recycling, and oil market developments. VLCC, Suezmax and Aframax markets are analysed in separate chapters.

3 easy ways to order:
Web link: http://www.intertanko.com/publications/show_publication.asp?pub_id=73&kID=3
E-mail: mailto:publications@intertanko.com
Fax order form to +47 22 12 26 41. Link to order form: http://www.intertanko.com/pdf/weeklynews/tankermarketpublication.pdf