The following is an overview of tanker spot market activity for the week ending July 15, 2016
Volume fell off significantly in the Arabian Gulf, but tates for AG/East remained steady in the low WS 40s, while AG/USG edged up slightly during the week to WS 27 via the Cape. The decrease in fixture activity extended into the Western Hemisphere, with only around 10 deals reported. Rates for West Africa to East Coast India paid US $3.65 million for a replacement fixture, while West Africa/China moved up slightly from WS 47.5 to WS 48 ...
The Empresa de Docagens Pedra do Ingá (EDPI) Ship Repair Yard Project in Brazil Receives Preliminary Environmental License
July 15, 2016
(New York – 15 July, 2016) – The preliminary environmental license was issued to the Brasil Basin Drydock Company (BBDC) yesterday, accomplishing a major milestone in the implementation of the Empresa de Docagens Pedra do Ingá (EDPI) ship repair yard facility, to be located in the municipality of Lucena, in the northeastern Brazilian state of Paraíba.
In October 2015, the BBDC applied for the license from SUDEMA, the state environmental agency with authority in the region, who then issued the Terms of Reference for which the environmental impact analysis report was to be produced. This report, called the EIA/RIMA for ...
Weekly Tanker Summary
July 8, 2016
The following is an overview of tanker spot market activity for the week ending July 8, 2016
Activity dipped in the AG as 30 ships were reported fixed or on subjects this past week. Rates for AG/East fell as low was WS 40 before moving slightly higher. An AG/USG voyage was concluded at just under WS 25 via the Suez Canal, while AG/West Coast India looked to pay in the low WS 60s.
Activity fell again in the Atlantic Basin as 13 vessels were reported fixed or on subjects, including six in West Africa, five in ...
Weekly Tanker Summary
July 1, 2016
The following is an overview of tanker spot market activity for the week ending July 1, 2016
Activity remained steady in the AG and rates continued their upward trend in the early part of the week, but once the supply situation was reevaluated, rates started to pull back slightly, especially for disadvantaged tonnage. At the time of writing, AG/East was steady in the mid-WS 40s and AG/West in the high WS 20s. (To read more about the increased use of disadvantaged VLCC tonnage – download Industry Note No. 8 – Plenty of Suitors for These Older Ladies)