Uranium fuel, nuclear reactors, generation, spent fuel. But beyond this, there are several decisive issues to keep an eye on during the year, which could have a big impact on shipping, logistics and offshore. NAT shares gained 110% in 2H19, and have started 2020 with a … Uni-Tankers will hunt for acquisitions in 2021 USTC-owned Unit-Tankers will lead the charge in a needed consolidation of small and medium-sized players in the tanker market. Oil tanker rates are crashing as a pact to limit global crude production begins. Crude oil production cuts from OPEC and partner countries (OPEC+), which started in May 2020, decreased the demand for crude oil shipping and floating storage. The reason cited is that greenhouse gas emissions would be "extremely large". Crude oil exports from the US were supposed to drive the tanker market in 2020, but the end-result became something entirely different. Tags: News consumption/demand, liquid fuels, crude oil, oil/petroleum, Have a question, comment, or suggestion for a future article? A network of oil trading firms have now been sanctioned because it, according to the US authorities, has helped state-owned Venezuelan oil company PDVSA selling oil worth hundreds of millions of dollars. In recent years, the shipping company has bought new ships and increased its workforce by almost 100 people, executives tell ShippingWatch. This is one among several reasons why the market, according to brokerage Simpson Spence Young, faces a challenging year in 2021. Norway's Odfjell buckles into the green transition with a new bond loan of between NOK 0.5 and 1 billion, which is linked to the tanker company reducing its carbon intensity by 50 percent ahead of 2030. Send your feedback to, Residential Energy Consumption Survey (RECS), Commercial Buildings Energy Consumption Survey (CBECS). In an unusual year characterized by the coronavirus pandemic, other big stories were the red-hot container market, Søren Toft's start at MSC and a large-scale reorganization at Maersk. A mine was found on a tanker ship off the coast of Iraq. Crude oil, gasoline, heating oil, diesel, propane, and other liquids including biofuels and natural gas liquids. The company has also received commitments on a USD 21 million loan to refinance debt. Find out more. These estimates of crude oil in floating storage include crude oil and petroleum liquids that may be designated for a port or refinery but cannot be offloaded because of port congestion. The daily rate for chartering an oil tanker from Saudi Arabia to China has plunged by over 50 percent in one week to $100,000 as OPEC+ begins on … Suezmax owners’ earnings have surged by more than 350% on average worldwide since the beginning of September. Financial market analysis and financial data for major energy companies. Don’t bet on the rout enduring. Management noted that its three-week average rate is already up to $28,200 per day, and it priced a 55-day voyage at $72,000 per day just last week. Norwegian shipping magnate Arne Fredly, who controls Hunter Group, among other businesses, calls it a "sad story" to be an equity investor in the shipping industry. Tanker charter rates for VLCC's moved lower this week and there was no change in rates for the other size groups - mostly below operating costs. Come test out some of the products still in development and let us know what you think! Large dry bulk ships have in the past month seen earnings grow, surpassing more than USD 25,000 per day per ship. All the latest news on the tanker sector, crude, product and chemical tankers, LNG and LPG carriers, freight rates and fleet developments. In March and April 2020, reduced demand for crude oil and petroleum products in response to COVID-19 mitigation efforts led to a sharp increase in global crude oil inventories. The question, however, is whether they can lock in enough time-charter coverage before an extended spot-rate slide. Short-term, Q1 is set to deliver solid rates, which means anything above $40,000 a day,” Sand told Splash today. Lesson plans, science fair experiments, field trips, teacher guide, and career corner. With our broad and diverse global partnerships is able to develop marine transportation solutions, whatever their size or complexity, from conception to completion. In the October STEO, EIA forecasts that global petroleum liquids consumption through 2021 will remain lower than 2019 levels. Closures of older refineries will contribute to growth in the product tanker market. Fixtures. ... That’s down from a ceiling of 3.5% in most parts of the world today. A surge in tanker demand to serve as floating storage for the world’s growing oil glut is also expected to keep tanker rates elevated, the sources said. Tanker companies reporting this week did indeed announce heightened charter coverage, as would be expected given record spot rates over recent months. Analyst is skeptical. ShippingWatch provides an overview. The record-high rates in the LPG are set to slide, projects Clarksons Platou. in International Shipping News 15/11/2019. Nevertheless, tanker rates will continue to run counter to intuition, as the cycle will play in reverse once a recovery in oil demand follows an eventual easing of coronavirus-induced travel restrictions, Hammer said. Tanker rates from the Arabian Gulf to Japan, one of the key global tanker routes, spiked in mid-March 2020 and remained elevated through mid-May. An unprecedented shortage of LNG tankers made charter rates last week soar to the highest level ever seen for a ship to ferry commodities. In 2020, Odfjell likely surpassed one billion dollars in revenue and doubled its operating result to USD 125-130 million. Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data. Tanker operator Ultraship will digitalize its route planning and monitoring processes with an agreement with Wärtsilä to make its operations more efficient and to cut costs for the company's 18 LPG tanker vessels. Product tanker freight rates softened in the third quarter of 2019 but rebounded strongly at the start of the fourth quarter following an increase in crude tanker rates that began after the attacks on Saudi Arabian oil facilities and accelerated dramatically to multi-year high levels at the end of September when the US imposed sanctions on two subsidiaries of China's COSCO Shipping. Energy use in homes, commercial buildings, manufacturing, and transportation. 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