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July VLCC daily rental near year low

London shipbroker Gibson recently released July tanker analysis report. The report shows that in July crude oil transportation is the weakest month of the year. Central line east to Japan VLCC (VLCC) daily rent is $ 23,500 (the same), its lowest level since October 2009, well below the average daily rent of 57,000 yuan in the first half of this year. But even at this level, VLCC rental income is still far higher than in September 2009 set a minimum rent of 11,000 yuan level. So the level of rent than the fixed operating costs of at least more than double again, before they can achieve break even.

It reported that an owner perspective, this income is obviously disappointing performance is contrary to the basic principles of tanker operations. Standing on the demand side, an increase in global oil demand is still large-scale, global daily consumption in the second quarter has been restored to 8660 barrels / day, increasing by 2.7 million barrels / day, this rebound is reflected in stock market, with the earlier analysis showed that in June from east to Japan VLCC spot line supply is the highest figure in recent years.

 

Reports also known to supply, the global VLCC tankers in the past 12 months has increased by 14 new vessels. Delivery majority of tankers have been offset dismantling ships and dry bulk carriers, the number of ocean engineering vessel (although not part of the full use of single-hull tankers). Net increase in the number of VLCC only moderate rise, coupled with strong growth in demand for the listed court, reports July VLCC's still tons of excess supply ship, a tanker can occur at any time list of carriers, some used oil oil warehouse tankers are falling. Since early July, it has 12 VLCC oil warehousing oil out of the play work, putting maritime transport.

 

Oil Tanker strong demand for support

 

In addition, the spot tanker relatively speaking, further pushing up the utilization rate in Asia, but the freight is an important factor behind the fall, it is to change the charter form and mood, worrying. The floating cabin boat will come to an end.

 

The report notes that despite the short-term transportation bleak, sad, investors are likely to be more slow. But oil demand is expected to remain strong, supported by tankers maintained.

 

In addition, a large tanker operator, such as the National Iranian Tanker Company (NITC) for temporary floating storage bunkers boat may close the market, although there are ten tanker owners in this market will be responsible for unloading or unloading, but they are not in On the spot market, part owner only in the Persian Gulf to the Red Sea between the shuttle carrier routes.

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