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Friday, May 8, 2020 | History

3 edition of Cost structure and period rates for oil tankers found in the catalog.

Cost structure and period rates for oil tankers

by Zenon S. Zannetos

  • 217 Want to read
  • 13 Currently reading

Published by Alfred P. Sloan School of Management, Massachusetts Institute of Technology in Cambridge, Mass .
Written in English


Edition Notes

Statementby Zenon S. Zannetos, Themis A. Papageorgiou, Dimitris Cambouris.
SeriesWP ; 1215-81, Working paper (Sloan School of Management) -- 1215-81.
ContributionsPapageorgiou, Themis., Cambouris, Dimitris.
The Physical Object
Pagination33 p. :
Number of Pages33
ID Numbers
Open LibraryOL14050551M
OCLC/WorldCa9041179

Crude oil and petroleum products have been carried in ships for more than years. The practice of carrying the oil directly inside the single hull of a ship has been common since this type of . The collapse of oil prices back in was undoubtedly great news for oil tankers. After years of stagnation, seaborne crude oil trade started to grow by over four per cent per annum.

  Oil has found a bottom, for structure - narrowing cash-and-carry and storage rates exploded early in Term structure gave clues in June - .   Just before the OPEC+ break-up on March 6, daily rates for VLCCs were in the low $30,s. At the end of last week, the cost to charter a supertanker had surged to $,$, a .

20 hours Top 12 Listed Oil Giants Book Huge $ Billion Loss In First Quarter. 10 mins Iran's first oil tanker has arrived near Venezuela. Oil Tanker Firms Scrap Most Ships In Three Decades. In theory a long period of low oil prices should benefit the global economy. The world is both a producer and a consumer: what producers lose and consumers gain from a drop in prices sums to zero.


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Cost structure and period rates for oil tankers by Zenon S. Zannetos Download PDF EPUB FB2

Cost Structure And Period Rates for Oil Tankers. Home» Nonfiction. 9 / 10 (1) (1)9/10(1). Full text of "Cost structure and period rates for oil tankers" See other formats HD M TYo \3liCOST STRUCTURE AND PERIOD RATES FOR OIL TANKERS by Zenon S.

Zannetos Themis A. Papageorgiou Dimitris Cambouris April MASSACHUSETTS INSTITUTE OF TECHNOLOGY 50 MEMORIAL DRIVE CAMBRIDGE, MASSACHUSETTS COST STRUCTURE.

Over the every day contract costs for an oil tanker of about $55, (U.S.), dealers that use floating storage must pay for the ship’s fuel (3 cents per month for every barrel), port support costs (10 cents per month for every barrel) and loan interest to finance the purchase of the oil (10 cents per month for each barrel).

Cost structure and period rates for oil tankers By Zenon S. Zannetos, Themis Papageorgiou and Dimitris Cambouris Publisher: Cambridge, Mass.: Alfred P. Sloan School of Management, Massachusetts Institute of Technology.

Tanker rates also act as an analog for storage costs, especially given the potential for their use as floating storage. Rates have declined since.

In the period sinceoil demand continued to grow, boosted by the emergence of India and China as significant consumers of energy as they grew at sustained high rates.

Much of the present structure of the tanker market has been created by these events. Indeed, the past two decades could be argued to be the first period in which the tanker. Double Hull Tankers Inc., which owns and operates a fleet of crude oil tankers, said Wednesday its second-quarter earnings rose 11 percent on strong charter rates and continued demand for its vessels.

The tanker market, which encompasses the transportation of crude oil, refined petroleum products and chemicals, witnessed an equally volatile freight rate environment in and early New numbers pulled by Vessels Value for ShippingWatch show that close to product tanker vessels have been lying still for more than 10 days, and that they are.

On the Baltic Exchange, which measures the cost of moving commodities, VLCC earnings for U.S. Gulf to China cargoes were quoted late Monday at $, a day, up $5, from Friday’s level. Analysis of cost structure and functions in oil transport and refining disposal of the charterer for a specific period of time.

The tanker is equipped by the charterer, which also pays its operating costs. The charter hire rate (paid monthly) reflects the capital costs of the tanker.

Bareboat charters are therefore similar to leasing. Earnings from benchmark tanker rates jumped % the past week to $, a day, according to data from the Baltic Exchange in London. Over the. VLCC tanker rates along the busy Middle East Gulf to China route jumped to about $,$, per day on Ma up from about $70,$, per day on Ma according to several ship broking sources.

Just one month ago, the same rate was. The maximum size of vessel to use the Average Freight Rate Assessment method for calculating shipping rates, these tankers are around metres ( feet) long and have capacities of 80, todwt.

They carry roughlytobarrels. Panamax. Freight rates have fallen steeply, with falling oil production and the tanker supply glut among the reasons why tanker owners aren’t ready to pay premiums for secondhand tankers. VLCC There has again been a good volume of fixtures in all areas this week, with charterers able to capitalize on weakening sentiment.

In the Middle East Gulf, rates for ,mt to China softened about eight points to WS50 level and for ,mt to USG via the cape/cape route rates are now assessed at low WS30s - three points lower than.

Rates for hiring a VLCC for six months have also risen with one year-old vessel, which has a market value of $44m, booked by a European oil major on Monday for $, a day, or more than $20m. The past five years have been lean times for the tanker industry with companies closely monitoring operating expenses in order to survive.

The decision to operate ships on. Inthe price for new oil tankers inDWT, 80, DWT, andDWT ranges were US$43 million, $58 million, and $ million these.

Oil majors and traders are scrambling to book supertankers to try and divert a flood of American crude to Asia, betting the region is the best place to store the surplus while the market waits for.

It owns and operates crude oil tankers, and has a fleet of 18 crude tankers including 14 VLCC. With a recent market cap of $ million, its revenues stood at .Rough storage costs for a developed country, with a normal inventory turnover representing short term storage: $/bbl for a terminal connected by pipeline $/bbl for a terminal with marine docking facilities The costs can very significa.The cost of moving oil around the world has hit an year high as producers scramble to find new supertankers following a U.S.

blacklisting of a major Chinese operator that has sidelined dozens.