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ANALYSIS OF THE MARKET OF U.S. FLAG TANKERS

The commercial tank ship fleet of the United States as of December 31, 1968, numbered 271 vessels, the equivalent of 459 T-2's. Our fleet now comprises only about six per cent of the world tank ship fleet, after having fallen from a position of dominance twelve years ago. The ships of the U. S. fleet, on the average, are twice as old and are considerably smaller than those of the world fleet. Over the past five years our fleet has been expanding at the rate of less than one per cent per year compared with eleven per cent per year for the world fleet. Looking ahead to 1980, we can visualize the need for a tremendous job to be accomplished by U. S. Tank ship operators. First, 58 per cent of our current fleet must be replaced. In addition, we must build as much as eight million DWT of new shipping. This will require that we build one million DWT of tank ships each year during the next twelve years, a task which has not been accomplished since the World War II years. In order to provide energy at reasonable costs in the future we need a fleet of new, large, efficient ships, some of which need to be especially designed for work in the far north. It is anticipated that during the next two years tank ship availability will be roughly in balance with requirements, after which we would anticipate some tightening in the market depending primarily upon how North Slope crude is shipped to U. S. refining centers.

  • Corporate Authors:

    Annual Tanker Conference (14th)

    Pocono Manor Inn
    Pocono Manor, PA  United States 
  • Authors:
    • CROSS, J
  • Conference:
  • Publication Date: 1969-5-12

Media Info

  • Pagination: p. 48-66

Subject/Index Terms

Filing Info

  • Accession Number: 00034929
  • Record Type: Publication
  • Source Agency: American Petroleum Institute
  • Files: TRIS
  • Created Date: Oct 27 1972 12:00AM