[Serial_Worrier]

This doesn't make sense, the tankers have limited fuel. They can't idle around forever.

[3aidlillahi]

$this->bbcode_second_pass_quote('Serial_Worrier', 'T')his doesn't make sense, the tankers have limited fuel. They can't idle around forever.

[ReverseEngineer]

$this->bbcode_second_pass_quote('3aidlillahi', '')$this->bbcode_second_pass_quote('Serial_Worrier', 'T')his doesn't make sense, the tankers have limited fuel. They can't idle around forever.

[outcast]

$this->bbcode_second_pass_quote('Serial_Worrier', 'T')his doesn't make sense, the tankers have limited fuel. They can't idle around forever.

[Serial_Worrier]

$this->bbcode_second_pass_quote('ReverseEngineer', '')$this->bbcode_second_pass_quote('3aidlillahi', '')$this->bbcode_second_pass_quote('Serial_Worrier', 'T')his doesn't make sense, the tankers have limited fuel. They can't idle around forever.

[spiritof1976]

I'll bring the speedboat, you bring the AK47s. Let's bag us an oil tanker.

[Ayoob]

Circling the ocean, waiting for the price to rise? Sounds good to me. Why not? If it was my tanker, that's what I'd be doing.

[ROCKMAN]

I can't verify the validity but I saw a report a couple of weeks ago regarding cost for floating storage. With the drastic drop in tanker fees the current cost for the largest ships was $0.50per barrel per month. I don't recall but this proably doesn't include a fuel surcharge. If correct and one sees a $10 price jump in 6 months or so then you'll catch a $14 million profit on a 2 million barrels load.

[highlander]

Now a couple of the big banks getting US taxpayers money to "bail them out" are looking for a bunch of tankers to hold their oil until t he prices go back up. So the speculators are back at it, this time with our money. ARRRRRRRR

[ROCKMAN]

In the oil patch we would call them "promoters". They risk other people's money to make their profit. At least speculators risk their own money .

[Serial_Worrier]

I hope the crew have a big supply of fresh water and beef jerky.

[jamest]

$this->bbcode_second_pass_quote('ROCKMAN', 'I')n the oil patch we would call them "promoters". They risk other people's money to make their profit. At least speculators risk their own money .

[ROCKMAN]

james,

You've dealt with a better class of promoters then I have. Some of those slim balls make our current crop of bankers look like saints.

But your right. In the end, a crook is a crook. The only difference is the size of the theft.

[bratticus]

$this->bbcode_second_pass_quote('', '[')b]Drop in crude tanker demand

Maritime
January 19, 2009

DEMAND for crude tanker shipping is expected to contract by 13% this year as the Organisation of Petroleum Exporting Countries (Opec) cuts oil production.

... skip ...

It said this would reflect an excess supply of 47.8 million dead weight tonnes (dwt) or 160 very large crude carriers (VLCC).

The Baltic Dirty Tanker index (BDTI) could fall as much as 51% year-on-year (y-o-y) to just 750 points or lower.

The BDTI is the average rate on dirty tanker routes. Large tankers generally carry “dirty” (black oil or crude oil) cargo as opposed to clean tankers that ship refined products such as petroleum, diesel fuel, jet fuel or chemicals.

The most recent cut in Opec production quota by 2.2 million barrels per day came into effect on Jan 1 but most likely had not been implemented in full, suggesting that tanker rates would see more pressure ahead, the report said.

“We conclude that Opec production cuts alone are enough to force VLCC and suezmax tankers demand for this year to fall as much as 13% y-o-y, while aframax tanker demand could fall by 9% y-o-y,” it said.

... snip ...

[wisconsin_cur]

Link
$this->bbcode_second_pass_quote('', '
')Armed men in speedboats have abducted a Romanian crew member after an attack on an oil tanker off Nigeria's southern coast, security sources say.

The MT Meredith, loaded with 4,000 tonnes of diesel, was badly damaged in the attack early on Wednesday.

"The ship called for assistance as its engine and superstructure were reported to have been seriously damaged," a private security source, who asked not to be named, said.

The Movement for the Emancipation of the Niger Delta (Mend), which wants greater autonomy for the region, claimed that an "affiliate group" carried out the attack.

"This recent attack should send a clear message to the oil companies that even with the four Mantra class seaward defence boats and two Augusta helicopters acquired by the navy, the only thing that can stop attacks is justice," a Mend statement said.

"Mend is in touch with the group and will ensure the abducted man is released unharmed at the earliest convenience."

[idiom]

$this->bbcode_second_pass_quote('', '"')Mend is in touch with the group and will ensure the abducted man is released unharmed at the earliest convenience."

[PrairieMule]

Sound's like some Nigerian got a serious case of the mondays.

$this->bbcode_second_pass_quote('', 'T')his recent attack should send a clear message to the oil companies that even with the four Mantra class seaward defence boats and two Augusta helicopters acquired by the navy, the only thing that can stop attacks is justice," a Mend statement said.

[Interfector]

I wonder if the Somali naval wealth redistribution unit will capitalize on this opportunity as well.

[Boris555]

$this->bbcode_second_pass_quote('Interfector', 'I') wonder if the Somali naval wealth redistribution unit will capitalize on this opportunity as well.

[copious.abundance]

Someone's got some more supertankers he's offering to drive around in circles.

--> LINK <--
$this->bbcode_second_pass_quote('', 'S')hipping investor Nobu Su plans to offer his fleet of 20 supertankers to speculators to store crude and bet that prices will appreciate later in the year.

Su’s Taipei-based company, TMT Co. Ltd., will lease out its 2 million-barrel vessels at below-market prices in return for a share of any profit from the trade on the oil. His fleet, able to hold enough crude to supply Europe for two days, is available for immediate hire, he said.

[...]