Top 16 Events that Impacted Tanker Shipping in 2016

Dec. 30, 2016

As we head into the New Year, we’ve rounded up the top 16 events that impacted tanker shipping in 2016. 

1. US Crude Oil Exports
It has been about a year since the ban on US crude oil exports was lifted, a move that has been helping to reshape the world’s energy map.  This crude, which was previously being exported mostly to Canada, is now flowing around the globe to places like Northern Europe, the Far East, Caribbean and East Coast South America.   The chart below shows the increase in non-Canada destinations beginning in 2016, when compared to ...

TD9 Soars to New Highs

Dec. 21, 2016

Rates on TD9 (Carib/US Gulf) traded up from WS 130 to an initial plateau of WS 170 throughout yesterday as the position list for December dates in the Caribbean remains tight.  With around 50% of the tonnage removed from the Caribbean, rates were expected to find some support this week; however, today’s surge to WS 200 was exacerbated by weather delays in the region.  High winds in the US Gulf have interrupted lightering programs causing tanker delays and pushing charterers to seek out replacement vessels.  Owners positioned in the Caribbean took advantage of the delays, pushing rates to ...

The Empresa de Docagens Pedra do Ingá (EDPI) Ship Repair Yard Project in Brazil Receives Priority from the Fundo de Marinha Mercante – FMM (Merchant Marine Fund)

Dec. 9, 2016

(New York – 9 December 2016) – At the 33rd ordinary meeting on Thursday, 1 December, the Board of Directors of the Merchant Marine Fund (CDFMM), at the Ministry of Transport, Ports and Civil Aviation in Brasilia (DF), approved to finance basis 2.15 billion reais for the construction of a new ship repair facility in Brazil as part of a 9.15 billion reais program for new and existing projects.

The approval was issued for the Empresa de Docagens Pedra do Ingá (EDPI) ship repair yard facility of the Brasil Basin Drydock Company (BBDC).  The yard will be located in the ...