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Record Fuel Storage at ARA Ports
Feb 9, 2015 ... storage of oil products as traders seek to benefit from a "contango" market. However demand for VLCCs is said to have waned in recent days as rates have ...
VLCC Rates Falling as Floating Storage Demand Wanes
Feb 5, 2015 ... is falling following an uptick in oil prices, leading to a decline in very large crude carrier (VLCC) rates, Platts reports.  The downward correction has been much larger than expected, a ...
Oil Storage Demand Rises at Fujairah As Port Expands Capacity
Jan 28, 2015 ... facilities, earlier this month crashing crude oil prices also elevated very large crude carrier (VLCC) rates as buyers were hiring tankers to serve as floating ...
Slow Steaming Getting Less Attractive for Tankers
Jan 26, 2015 ... reports. "Tanker daily hiring rates for shipowners are climbing now, very large crude carriers (VLCC) especially," a Singapore-based bunker trader was quoted as saying. Slow steaming naturally ...
Port of Houston Fuel Supply Tight After Weather Delays
Jan 26, 2015 ... shale gas, which in turn has increased demand for tankers to ship it as well as to act as floating ...
Surge in At-Sea Oil Storage as Traders Seek Arbitrage
Jan 22, 2015 ... remains a major focus in the tanker market as charterers have been fairly active in securing VLCCs [very large crude carriers] on time charters, with options to use the vessels as floating ...
Oil Traders Hiring Old Supertankers for Long-Term Floating Storage
Jan 12, 2015 ... as Vitol Group, Trafigura Beheer BV, and Royal Dutch Shell plc have reportedly been able to hire VLCC's for around $40,000 per day, well below current VLCC spot rates that are at their ...
Collapsing Oil Prices May Mean Less Ship Scrapping
Jan 8, 2015 ... cash flow, not the balance sheet," he said.  Elsewhere in the market, very large crude carrier (VLCC) rates have doubled because of collapsing oil prices as demand for floating storage ...
DP World to Double Investments on Falling Oil Price
Jan 7, 2015 ... DP World will increase capacity as it predicts low oil prices will stimulate world trade to the benefit of the shipping industry. ...
Frontline: VLCC Rates Strong As Demand for Floating Storage Rises
Jan 7, 2015 ... demand for tankers used as storage, said Macleod. Since mid-October, very large crude carrer (VLCC) rates have doubled to between $55,000-$60,000 per day. "A lot of people are looking for ...