Skip to main content

Too many vessels spoil the oil tanker rate

OPEC's coming output cuts could pull down rate even furtheThe 308,000 DWT crude oil tanker "Yuanteng Lake" berths at a port during the delivery and naming ceremony in Dalian city, northeast China's Liaoning province.
TOKYO -- The freight rates that large oil carriers charge on certain routes have plunged about 30% since the beginning of the year. The reason is twofold: There are suddenly more tankers looking for work and less demand for their services because of OPEC's production cut.
The benchmark Worldscale rate for very large crude carrier tankers in the 300,000-ton class has sharply fallen to around WS65 at present -- the lowest point since November -- for a voyage from the Middle East to the Far East. Less than three weeks ago, the voyage cost over WS90.

Comments

Post a Comment

Popular posts from this blog

Don Jazzy, Wizkid, Davido make Forbes list of richest Africans

Forbes Africa has released its list of Richest African musicians. The list was put together using factors such as endorsement value, popularity, show rates, sales, awards, YouTube views, appearance in newspapers, investment, social media presence, influence and others. Nigerian artistes, Don Jazzy, Wizkid and Davido, are among the top ten richest African musicians. The top 10 are; 1. AKON Akon has over 35 million albums sold worldwide. He has won numerous awards including five Grammy Award nominations and has 45 Billboard Hot 100 songs under his belt. He tops the list according to Forbes Africa. 2. BLACK COFFEE, SOUTH AFRICA The multi-award-winning artist’s real name is Nkosinathi Maphumulo. He was born in South Africa’s house music province, KwaZulu-Natal (KZN) and raised in the Eastern Cape province, where Nelson Mandela hailed from, before moving back to KZN to study music. 3. HUGH MASEKELA, SOUTH AFRICA Hugh was born in Witbank, east of Johannesburg. He has released more than 43 ...
Post a Comment
www.bountifullink.blogspot.com»

EFCC denies raid on Dajuma Goje‎ home

The Economic and Financial Crime Commission, EFCC, has denied reports that it raided the Abuja home of Senator Dajuma Goje. The EFCC in a statement signed by Wilson Uwujaren urged Nigerian and others to disregard reports that EFCC’s men on Thursday evening raided the home of Danjuma Goje, Uwujaren‎ in the statement said ”Please disregard online reports claiming the EFCC today April 20 raided the Abuja home of Senator Please disregard online reports claiming the EFCC today April 20 raided the Abuja home of Senator Dajuma Goje‎. The report is false as the Commission was not a part of any such activity.
Post a Comment
www.bountifullink.blogspot.com»

China's green-trading rise puts world on notice

TOKYO -- China is fast emerging as a major force in emissions trading, and experts say that may work against Japanese companies. Now that the Paris Agreement -- a United Nations-backed accord aimed at reducing greenhouse gases -- has gone into effect, governments are expected to ramp up their efforts this year to curb emissions.
Post a Comment
www.bountifullink.blogspot.com»