A shuttle tanker is a vessel specifically designed to transport oil from offshore oil fields or large oil tankers to onshore refineries. While this is typically the function of a pipeline, a shuttle tanker may be preferred due to their flexibility to transport oil to any destination, easy maintenance and ability to safely operate in harsh climates and deep water regions. Shuttle tankers are equipped with computerized technology, known as “dynamic positioning,” which help to keep the vessel on position at all times. They also offer additional benefits that pipelines cannot, including the ability to segregate oil, while pipelines usually ...
Intertanko Annual Tanker Event 2017
May 22, 2017
On Thursday, May 25, McQuilling Services' Senior Shipping and Finance Advisor, Stefanos Kazantzis, will participate in the "Role of the Broker" Panel Discussion at Intertanko's Annual Tanker Event 2017. The panel discussion will commence at 1400 hours in the Grande Ballroom at the Houstonian Hotel and will aim to cover the following topics:
Brokers - forecasters or fixers?
Is the role of the broker evolving in step with the changing face of the chartering and S&P sector and the changing roles of the individual players?
Impact of technology on the interaction between industry participants
Broker projects desks add strategic ...
May 19, 2017
VLCC rates along the TD1 AG/US Gulf route dropped below WS 30 this week amid a weaker market structure (Figure 1). With overall cargo activity out of the Arabian Gulf stagnant over the past few months, we have seen pressure stemming from both the demand and supply sides of the equation.
Production cuts in the Middle East continue to push owners towards western markets in hopes of higher earnings, while those that are left in the region must battle against disadvantaged tonnage fixing at lower levels. The decision of where to point the bow becomes increasingly tricky as owners ...
McQuilling to Present at MarineLog's Tugs & Barges Conference
May 15, 2017
We are pleased to announce McQuilling Services' Senior Shipping and Finance Advisor, Stefanos Kazantzis, will be giving a presentation on the "Near Term Outlook for Tankers" at MarineLog's 14th Annual Tugs and Barges Conference on May 16 at 11:30am. The two-day event will be held at the Stamford Marriot Hotel in Stamford, CT.
The presentation will cover the following topics:
Oil Supply and Demand
Tanker Market Outlook
A copy of the "Near Term Outlook for Tankers" will be available on mcquilling.com on Wednesday, May 17.
Weekly Tanker Market Snapshot
May 12, 2017
The following is an overview of tanker spot market activity for the week ending May 12, 2017
Activity in the Arabian Gulf fell off this week with around 17-18 vessels reported fixed or on subjects, while the monthly figure for May stands at about 123-124 ships. We estimate the TCE for TD3 followed by a Caribbean/Singapore voyage is down about $5,500/day to $32,500/day. TD3 was estimated steady at about US $21,000/day for modern tonnage, while disadvantaged tonnage was fixing at a discount. In the Atlantic Basin market, we counted around 3-4 ships ...