Early recovery seen for tanker market

Journal Article · Mon Dec 12 04:00:00 EST 1977 · Oil Gas J.; (United States)

OSTI ID:5070111

The worst of the tanker recession will have passed by 1982, according to Tilney and Co., whose study predicts mid-year net tanker supplies of 280 million dwt in 1978, 281 million dwt in 1979, and 275 million dwt in 1980, taking into account vessels in drydock, in permanent lay-up, under repair, and used for storage and intra-area duty. Mid-year crude oil carrier demand is predicted at 232 million dwt in 1978, 253 million dwt in 1979, and 270 million dwt in 1980. The practice of slow steaming reduces apparent supply by 45 million to 50 million dwt. A vessel designed for 16 knots can cut bunker fuel costs by as much as 50% by slowing to 11.5 knots. Of the 25.5 million dwt of tankers and combination vessels which will be deleted from the fleet between 1978 and 1980, 24.3 million dwt will be tankers, mostly 18-22 years old and mostly small. Of the total world tanker fleet, 192 million dwt is in the form of more than 200,000 dwt ships, all built after 1965 and unlikely to be scrapped soon.

• OSTI ID: 5070111
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 75:51; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
022000 -- Petroleum-- Transport
Handling
& Storage
AVAILABILITY
CLEANING
COST
ENERGY SOURCES
FOSSIL FUELS
FUEL OILS
FUELS
LIQUID FUELS
OILS
ORGANIC COMPOUNDS
OTHER ORGANIC COMPOUNDS
PETROLEUM
PETROLEUM FRACTIONS
PETROLEUM PRODUCTS
PETROLEUM RESIDUES
SHIPS
SUPPLY AND DEMAND
TANKER SHIPS
TRANSPORT