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Thursday, October 18, 2018


US gasoline imports record high 2nd half 01 - EIA

In recent years US gasoline imports have declined during the 2nd half of the year. In the 1st half of 2000 gasoline imports were 0.562 mbd and in the 2nd half 0.489 mbd. However, in the 1st half of 2001 gasoline imports were 0.665 mbd; so far in the 2nd part of 2001 gasoline imports have been 0.713 mbd. This development probably reflects the shift from air to road travel.

For the development of US gasoline imports:,%20imorts.XLS

US imports of distillates declined from 0.268 mbd in the 1st half of 2000 to 0.261 in the 2nd part of 2000. The imports in the 1st half of 2001 were exceptionally high, 0.398mbd, compared to 0.254 so far in the 2nd half of 2001.

For the development of US distillates imports:,%20imports.XLS

Northbound laden tanker Suez transits down

Northbound laden Suez transits of tankers below 50,000 dwt amounted to only 59 in October, down from 87 in September. There was a record number of, on average, 71 tankers per month in this size category transiting the Canal in 2000 and this level continued until October this year.

Last year some 8 partly laden VLCCs transited the Canal per month and this activity has continued despite the low freight market for these tankers.

For the development of Suez tanker transits see:

Record recycling in November

INTERTANKO has recorded 3.8 mil dwt of tankers scrapped in November, giving a total of 15.6 mil dwt or 123 tankers recycled so far in 2001, 37 below 50,000 dwt, 29 50-120,000 dwt, 27 120-200,000 dwt and 30 VLCCs. If activity continues in December recycling in 2000 will be the highest since the record year 1985 when some 30 million dwt of tanker and combination tonnage was sold for recycling.

47 tankers or 6.1 million dwt have been sold to breakers in Bangladesh and 22 tankers or 3.3 million dwt to breakers in China. These two countries along with India and Pakistan have dominated the ship recycling market this year.

The average age for the tankers scrapped was some 26.4 years, 29.6 years for the tankers below 20,000 dwt, 27.8 for the 20-50,000 dwt, 26.3 for the 50-120,000 dwt, 25.2 for the 120-200,000 dwt and 25.2 for the VLCCs.

Looking at the building yards, we have recorded that the 123 tankers scrapped were built in 47 different yards, including 12 by IHI, 6 by Hyundai, 5 each by Eriksberg and Mitsubishi, and 4 each by Bethlehem Shipbuilding, Hitachi, Kawasaki, Øresundvarvet and Sumitomo.

The oldest tanker recycled was the Guadalupe of 30,856 dwt built in 1945, 1 was built in the 1950s, 8 were built in the 1960s, 4 were built in the 1980s and the rest in the 1970s.

Some owners have recycled many tankers this year. Dynacom has sold 10 tankers (3 Suezmax and 7 Aframax) for recycling, Vela 4 VLCCs, Euronav 3 VLCCs, Sabine Transport two Aframaxes and one Suezmax, Athenian Sea Carriers one VLCC, one Aframax and four smaller tankers, and BPAmoco 4 tankers.

Last year a total of 147 tankers of 14.8 million dwt (average age 26.7 years), including 26 VLCCs (average age 25.7 years) were recycled.

For tanker recycling details/graphs 1990 - 2001, link to:

US crude oil imports from Persian Gulf increase 11% - EIA

According to statistics from the US Energy Information Administration (EIA), the US increased its crude oil imports from the Persian Gulf (PG) during the first 9 months of 2001 by 11% compared to the same period in 2000. A total of 2.63 mbd was imported from the Persian Gulf (PG) in this period in 2001, and the increase in imports as compared to 2000 started in March onwards. The corresponding figure for 2000 was 2.37 mbd and 1999 2.38 mbd.

During the first 9 months of 2001 29% of US crude oil imports were taken from the PG. The corresponding figure in the same period in 2000 was 27% and in 1999 26%. However, in actual terms the US oil imports from the PG in 2001 during this period of 2.74 mbd were the highest ever. The previous peak of 2.4 mbd was in 1977. At that time, however, this accounted for 37% of US crude oil imports. US dependency on PG oil has thus declined over the period.

US crude oil imports from non-OPEC sources, for the first 9 months of 2001, declined by 5.8% compared to the same period in 2000. A total of 4.33 mbd was imported from non-OPEC producers in this period in 2001. The corresponding figure for 2000 was 4.6 mbd and 1999 4.52 mbd. So far in 2001, the US has imported 47% of its crude oil requirements from non-OPEC producers.

As extensively covered in our new market publication, the US is the most important market for tankers - representing 25% of the tanker market in terms of demand. Some 66%, or close to 13 mbd, of US oil consumption is used for transportation.

For US crude oil imports by destination, link to:

Japanese oil imports first 10 months of 2001 at same level as last year - PAJ

Japanese crude oil imports January to October 2001 averaged 4.3 mbd, slightly up from 4.27 mbd recorded in the same period last year. Oil product imports in the same period this year were 0.61 mbd, down from 0.69 mbd January to October 2000.

The highest level of crude oil imports, in the years from 1987, was 4.72 mbd recorded in 1997. For oil product imports, the highest level recorded was 0.83 mbd in 1988.

Japan is the world's second largest oil consumer after the US Almost 90% of Japanese crude oil imports are taken from the Middle East.

Japanese crude oil and product import statistics and graphs can be found on our market web page at the following link:

INTERTANKO Market Publication

"Excellent publication" according to DNV and DVB Nedshipbank.

INTERTANKO's new publication 'Current issues facing the tanker market with emphasis on the regulatory phase-out of single-hull tankers' is now available from INTERTANKO. 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.

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