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Tankers in World Markets

The Greening of Shipbreaking
January 09, 2012

A well-known theme has been woven into the pages of recent special features. It is abundantly clear that there are too many tankers chasing too few cargoes. This theme is especially relevant for the VLCC sector. Given the dismal level of time charter equivalent earnings (TCE) in this sector, no one should be surprised at this obvious revelation.

Any wished-for-improvement in TCEs in the longer term hinges on how well the growth in seaborne oil transportation meshes with the growth in the tanker fleet. Estimates of increasing oil demand over the next few years seem potentially helpful in raising tanker demand. But everyone should realize that these demand outlooks are just guesses based on assessments of a fragile global economy. Moreover, even with the present guesses for oil demand growth, ton-mile demand may not necessarily grow with it in lock-step. 
 

 
Bulgaria Balks at Bosporus Bypass
January 09, 2012

 
Bahrain’s Bapco Sees Refinery Modernization Plan
January 09, 2012

 
Vietnam's Next New Refinery Sees Delays
December 07, 2011

 
Expansion of Colombian Oil Production Seen as Imminent
December 07, 2011

 
Petrobras Considers Selling Its Okinawa Refinery
December 07, 2011

 
China's Teapot Refineries to the Rescue?
December 07, 2011

 
Tupras’ Izmit Refinery Residue Upgrading Project Takes Shape
December 07, 2011

 
What Comes Up, Must Go Out
December 07, 2011
Perhaps still aching from having a truculent neighbor slam the door on an outlet for its crude oil, Canada is likely contemplating other markets for this resource. The pulp media has been splattered with the United States’ abrupt postponement of a decision to either accept or reject its neighbor’s secure oil supply via the proposed Keystone XL pipeline. As this media ruckus abates, now might be an appropriate time to speculate on Canada’s options to bring its growing western heavy oil production to market.
 
Russian Refinery Processing Rates Rise in October
December 07, 2011

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