TANKER REVIEW: THE END OF AN ERA

Lloyd's Shipping Economist has used two powerful computer-programs to unravel what has happened in the medium and large sectors of the tanker market. Firstly, supply and demand trends in each sector of the tanker market have been identified by creating pictures of the employment of the different tanker fleets. Demand has been calculated by deducting the surpluses (laid up vessels and the slow steaming elements of the fleets) from the respective supplies. Secondly, changes in trading patterns have been analysed using Lloyd's Shipping Economist's statistics on tanker and combined carrier sailings from the major exporting and importing regions of the world. Some important insights into developments in the tanker and combined carrier sailings from the major exporting and importing regions of the world. Some important insights into developments in the tanker market have emerged from this analysis. In the medium size range, the rapidly growing importance of the new oil exporting areas such as North and West Africa, combined with a gradual reduction in the tonnage of this ageing fleet, has resulted in a significant convergence between supply and demand. For the VLCC and ULCC sector, the confused oil supply situation following the Iranian revolution, and the oil majors' continuing loss of control over crude production, has led to a surge in demand for these ships. The uncertain future of the tanker market is also probed. It is forecast that the inefficiencies which have emerged, particularly in the VLCC sector, are permanent features of a new market structure. Prospects for medium size tankers look promising but much depends on the development of "super ports" in the US, and the widening/deepening of the Suez Canal. But all predictions could prove futile if another political storm were to blow up the oil world. In this issue recent and future trends in the medium-size tanker and VLCC/ULCC sectors have been analysed in detail. The February edition will contain a review of the products tanker market.

• Availability:
  • Find a library where document is available. Order URL: http://worldcat.org/oclc/5773411
• Corporate Authors:

  Lloyd's of London Press Limited

  Sheepen Road
  Colchester, Essex CO3 3LP,   England 
• Publication Date: 1980-1

Media Info

• Pagination: p. 8-13
• Serial:
  • Lloyd's Shipping Economist
  • Volume: 2
  • Issue Number: 1
  • Publisher: Informa UK Limited
  • ISSN: 0144-6673

Subject/Index Terms

• TRT Terms: Demand; Economic forecasting; Imports; Market surveys; Oil tankers; Oils; Petroleum industry; Ship operations; Shipping; Tankers; Trade; Trend (Statistics); Very large crude carriers
• Identifier Terms: Organization of Petroleum Exporting Countries; Suez Canal
• Uncontrolled Terms: Petroleum trade
• Old TRIS Terms: Market studies; Oil imports; Opec; Petroleum economics; Shipping forecasts; Tanker demand; Trade analysis
• Subject Areas: Economics; Marine Transportation;

Filing Info

• Accession Number: 00310815
• Record Type: Publication
• Files: TRIS
• Created Date: May 7 1980 12:00AM