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| Thread ID: 101946 | 2009-08-02 01:45:00 | Fuel Tanker ships | kountryken (14110) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 797241 | 2009-08-02 01:45:00 | I see on TV that large Oil tankers are parking themselves in the ocean over seas creating a shortage so as prices per barrel can go up. | kountryken (14110) | ||
| 797242 | 2009-08-02 03:04:00 | Where did you see that? Sounds most unlikely given the cost of shipping demurrage among other costs. Refineries usually assign time slots for incoming tankers, and any tanker which misses its slot through weather or any other delay, has to wait for the next available slot, at the shippers expense. When you see tankers sitting off Marsden Point for any length of time, it is because they have missed their 3 day slot. It adds nothing to the cost of oil to the refinery, which doesn't own the oil anyway. The shipping oil company does. | Richard (739) | ||
| 797243 | 2009-08-02 04:39:00 | I have seen videos of lots of ships parked off China and Singapore waiting for cargoes. I agree with Richard, they are hardly doing that to raise the price of oil, they would rather be carrying it. And there are lots more brand new ships nearing completion that were started in anticipation of the global boom. Of course my comments relate to all ships not just tankers. The price of oil is set by the oil companies and demand (huh) and speculators. |
Digby (677) | ||
| 797244 | 2009-08-02 09:17:00 | a mate tells me theres lots of boats parked up due to lack of cargo to transport. dispite the fuel prices there is/was some real cheap deals going. the cost of truck transport of 100km's was more than the cost of shipping to the islands ! |
tweak'e (69) | ||
| 797245 | 2009-08-02 10:22:00 | From seekingalpha.com "The Baltic Dirty Tanker Index (BDTI), is a compilation of international crude oil routes. This index has been collapsing, falling from 2204 to 485 over the past year. That reflects the terrible pricing tanker companies receive for leasing their vessels. Clearly some of the oil tankers problems have to do with more vessels coming on line, weak capital access and decreased demand." In other words, tankers are having trouble getting any oil to carry at all. |
Winston001 (3612) | ||
| 797246 | 2009-08-02 12:39:00 | Its true, a lot of finance firms hedge how quickly the price of crude and refined petroleum products will go up and down and the best way to hedge their bets (and also influence the market to a certain extent) is to hire super and mega-tankers and park them out to see until the price is to your advantage. Good article about that in the NY Times today. |
beeswax34 (63) | ||
| 797247 | 2009-08-02 21:44:00 | I'm sure it was on Stratos Al Jazeera TV | kountryken (14110) | ||
| 797248 | 2009-08-02 22:05:00 | This does not ring true. If someone wanted my tanker because other tanker owners were withholding them I would be a splitter and carry the oil. The other owners can get !@#$%^. Not that I have any oil tankers mind you but similar thing happens with bus school runs. Some companies we think informally plan together to push the contract price up. We dont have any proof but wonder why they submit stupidly high tenders. Good for us we just undercut them its good for competition. |
prefect (6291) | ||
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