World News
Singapore's Ocean Tankers Pulls Its Vessels from Nova Tankers Pool
Ocean Tankers (Pte) Ltd (Ocean Tankers) is to pull all 10 of its very large crude carriers (VLCCs) out of the Nova Tankers pool by the end of this year, according to a report by segment specialist Tanker Operator.
The company gave no explanation of the reasoning behind the decision.
At the time of joining the pool, Ocean Tankers said it would have the "flexibility of a large, young and reliable fleet."
Companies remaining in the pool include tankers managed by Maersk Tankers, Mitsui OSK Lines, Phoenix Tankers, and Samco Shipholding.
Managed from Copenhagen, the Nova Tankers pool became operational in February 2012.
VLCC owners have endured particularly tough economic conditions during the current slump for the shipping industry, but after INTERTANKO's Katharina Stanzel said in March that rates had fallen so low that "we are actually paying oil companies to transport their oil," they rebounded to a six year high in July.
Key Bunker Prices More
| VLSFO | MGO | |||
|---|---|---|---|---|
| $/mt | +/- | $/mt | +/- | |
| Singapore | 511.00 | 6.50 | 590.50 | 2.00 |
| Rotterdam | 451.00 | 7.00 | 597.00 | 8.00 |
| Houston | 450.50 | 4.50 | 602.50 | 14.50 |
| Fujairah | 498.00 | 3.50 | 710.00 | 3.00 |
| Global 20 Ports Average | 526.00 | 6.50 | 700.50 | 6.50 |
| Global 4 Ports Average | 477.50 | 5.50 | 625.00 | 6.00 |
| Global Average Bunker Price | 564.50 | 3.50 | 747.50 | 2.00 |
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