", Argus Media, Number of crude oil tankers worldwide as of April 2020 by type Statista, https://www.statista.com/statistics/468405/global-oil-tanker-fleet-by-type/ (last visited January 23, 2021), Number of crude oil tankers worldwide as of April 2020 by type, Global oil refinery capacity by region 2017-2040, Main oil producing countries in Africa 2019, Proved crude oil reserves in Africa 2010-2020, Proved crude oil reserves in Africa by main countries 2010-2020, Proved crude oil reserves in Angola 2010-2020, Proved natural gas reserves in Angola 2015-2019, Monthly oil production in Angola 2019-2020, Production of natural gas in Angola 2015-2019, Natural gas production in Angola 2009-2019, Oil refining capacity in Angola 2013-2019, Volume of crude oil refined in Angola 2013-2019, Projected oil refining capacity in Angola, by refinery 2025, Use rate of installed oil refining capacity in Angola 2013-2019, Consumption of refined oil in Angola, by product 2019, Retail prices for fuel in Angola 2020, by type, Main operators of gas stations in Angola 2020, Export volume of crude oil in Angola 2019-2020, Export value of crude oil in Angola 2019-2020, Main destinations of oil crude exports from Angola 2020, Value of crude oil exports from Angola 2020, by main destinations, Export volume of refined oil in Angola 2019-2020, Import volume of refined petroleum products in Angola 2014-2019, Export value of refined oil in Angola 2019-2020, Import value of fuel into Angola 2012-2020, Crude oil production in Angola, by operator 2018, Distribution of crude oil production in Angola, by operator 2018, Total E&P crude oil and natural gas liquids production in Angola 2015-2019, Crude oil and natural gas liquids production of Chevron in Angola 2015-2019, ExxonMobil production of crude oil and natural gas liquids in Angola 2015-2019, Volume of crude oil produced by Sonangol in Angola 2016-2019, Number of tanker ships - OPEC countries 2012-2016, Economic benefits of the Trans Mountain pipeline expansion project 2017, Global number of oil ports by country 2018, Distribution of oil tanker spill causes worldwide 1970-2019, Oil spill volume to number of oil tanker spill incidents ratio worldwide 1970-2019, Tanker fleets of OPEC countries 2012-2016, Total OPEC tanker fleet deadweight tonnage 2009-2016, OPEC share of total global tanker fleet deadweight tonnage 2009-2016, U.S. domestic crude oil refinery receipts by tank railcar 2008-2019, U.S. domestic crude oil refinery receipts by truck 2008-2016, Crude oil stock in offshore fields in the United Kingdom (UK) 2011-2018, Causes of major oil tanker disasters by size 1970-2019, U.S. domestic crude oil refinery receipts by transportation mode 2019, Machine learning maturity in companies 2020, IT services worldwide spending forecast 2015-2020, Smart home video doorbell market size 2018 and 2023, Gross value added from dung in Bihar India FY 2012-2018, Gross value added from grass in Tripura India FY 2012-2018, Find your information in our database containing over 20,000 reports, Tools and Tutorials explained in our Media Centre. and over 1 Mio. And it’s one of a number of reasons the tanker market has been so strong lately. 6 months Derivatives Data. You only have access to basic statistics. In total, 56.2 million DWT was added to the oil product tanker fleet over the decade. Any queries (other than missing content) should be directed to the corresponding author for the article. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Profit from additional features with an Employee Account. "Number of Crude Oil Tankers Worldwide as of April 2020 by Type. Dirty VLCC MEG/Jap - 260,000. "Number of crude oil tankers worldwide as of April 2020 by type." Update, Insights into the world's most important technology markets, Advertising & Media Outlook Profit from additional features by authenticating your Admin account. 6 months Dirty Aframax UKC/UKC - 80,000. Daily rates for the first quarter averaged $19,307 for its MR tankers. Find the right specialists from across the world. Don’t bet on the rout enduring. Argus Media. Are you interested in testing our corporate solutions? Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. The British energy giant has managed to charter the oil tanker at the lowest rate of 2020 till now, added the source. 30, 2020 9:25 AM ET Euronav NV (EURN) By: Carl Surran , SA News Editor 231 Comments Learn about our remote access options. Accessed January 23, 2021. https://www.statista.com/statistics/468405/global-oil-tanker-fleet-by-type/, Argus Media. Then you can access your favorite statistics via the star in the header. Current freight rates in %Ws which are calculated from all dirty spot fixtures for which rates were reported during the month. Register in seconds and access exclusive features. Dirty Aframax MEG-East - 80,000. Then you will be able to mark statistics as favourites and use personal statistics alerts. Learn more about how Statista can support your business. Number of crude oil tankers worldwide as of April 2020 by type [Graph]. How to Gain Exposure to Oil Tankers The most popular vessel for long-haul trading and floating storage is the VLCC because it is capable of transporting up to 2M barrels of oil. In, Argus Media. The oil product tanker fleet saw its highest growth rate in 2010, closely followed by 2016 (both 6.3%). This includes incidents involving both persistent and non-persistent oil, except those resulting from acts of war. facts. According to the US Energy Information Administration (EIA), US crude oil production will decline from 12.2m barrels per day (bpd) in 2019 to 11.7m bpd … Nevertheless, tanker rates will continue to run counter to intuition, as the cycle will play in reverse once a recovery in oil demand follows an eventual easing of coronavirus-induced travel restrictions, Hammer said. Oil freight rates from the US Gulf Coast for Aframax crude tankers hit a new record this week, according to shipbrokers cited by Reuters, as demand increases for US crude oil … Oil prices drop, but tanker storage costs are soaring by STANLEY REED THE NEW YORK TIMES | April 24, 2020 at 1:59 a.m. Clean LR1 MEG/Jap - 55,000. That’s amazing, and obviously it only tells part of the story, as 2020 has been such a unique year. This represents a forward annualized dividend yield of around 31%. All the latest news on the tanker sector, crude, product and chemical tankers, LNG and LPG carriers, freight rates and fleet developments. Last year tanker rates surged 90% in October to more than $100,000 per day after the U.S. sanctioned Chinese shipper COSCO for moving crude oil out of Iran, only to drop in … Learn more. Please note: The publisher is not responsible for the content or functionality of any supporting information supplied by the authors. in International Shipping News 15/11/2019. Oil trader Vitol’s chief executive Russel Hardy estimated the scale of the collapse peaking at between 15m-20m barrels per day during the next few weeks, averaging out to 5m bpd for 2020. Clean MR Sing/Jap - 38,000. $39 per month* Updated on a monthly basis. Updated on a monthly basis. Frontline provides oil storage services to the oil industry and saw its revenues surge in the first quarter of this year as tanker rates increased due to a supply glut. Crude oil exports from the US were supposed to drive the tanker market in 2020, but the end-result became something entirely different. Corporate solution including all features. Please check your email for instructions on resetting your password. The LR2 fleet has seen the fastest growth by far, up 93.6% over the decade, ending at 44.6m DWT. Please do not hesitate to contact me. US crude exports did not result in the boost tanker carriers anticipated in 2020. (billed annually). Enter your email address below and we will send you your username, If the address matches an existing account you will receive an email with instructions to retrieve your username, I have read and accept the Wiley Online Library Terms and Conditions of Use. In September 2020, tanker rates on the Arabian Gulf-to-Japan route fell to $5.50 per metric ton, the lowest rate since 2003. Tanker rates have fallen since mid-May because global crude oil production and demand have become more balanced. Tanker Chartering and Freight Rates - 2020 - Oil and Energy Trends - Wiley Online Library The oil product tanker fleet saw its highest growth rate in 2010, closely followed by 2016 (both 6.3%). There have been at least two significant spikes in spot tanker freight rates so far this year and the year-todate average daily earnings of VLCC owners on the benchmark Persian Gulf-China route are close to $60,000, according to Masood Baig, a director … Oil product tanker rates saw a more restrained rise in earnings in March and April compared with their crude oil counterparts. Aframax earnings are next expected to fall, in line with larger sizes. Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Angola's oil production in barrels daily 1998-2019, Distribution of global oil production 2010-2019. Dirty Suezmax Wafr/UKC - 130,000 6 months Clean LR2 MEG/Jap - 75,000. New, Figures and insights about the advertising and media world, Industry Outlook Tanker rates from the Arabian Gulf to Japan, one of the key global tanker routes, rose in mid-March and remained high through mid-May. It provides information on oil spills recorded in the last year and an overview of the number and size of oil tanker spills since 1970. Please authenticate by going to "My account" → "Administration". The McQuilling Services Mid-Year Tanker Market Outlook Update provides an outlook on the global tanker market in the context of global economic growth and oil fundamentals influencing tanker demand and vessel supply. Oil tanker rates are crashing as a pact to limit global crude production begins. New, Everything you need to know about the industry development, Find studies from all around the internet. Charles R. Weber Tanker Market Updated by 10am EST Daily Wednesday June 10 2020 Trade Cargo Sentiment Rate … Statista. (April 21, 2020). The tanker size was benefiting from higher VLCC rates as charterers split cargoes to secure cheaper freight, boosting demand. Use the link below to share a full-text version of this article with your friends and colleagues. The Spike in Oil-Tanker Rates May Be Over, But a Boom Is Coming. If global oil consumption is down in 2020, there will be less need to move oil around the world, which will crush day rates and profitability. The full text of this article hosted at iucr.org is unavailable due to technical difficulties. Since the end of the prior quarter, rates have increased drastically. Please log in to access our additional functions, *Duration: 12 months, billed annually, single license, The ideal entry-level account for individual users. Updated on a monthly basis. If you do not receive an email within 10 minutes, your email address may not be registered, and you may need to create a new Wiley Online Library account. Please contact us to get started with full access to dossiers, forecasts, studies and international data. In total, 56.2 million DWT was added to the oil product tanker fleet over the decade. Suezmax rates are also down 46% over two days, reaching $70,951 per day on March 19, Baltic Exchange data show. But the sudden and unsustainable demand for crude tankers … As such, the firm increased its dividend by 75%, to $0.70 per share. Crude oil production cuts from OPEC and partner countries (OPEC+), which started in May 2020, decreased the demand for crude oil shipping and floating storage. Please create an employee account to be able to mark statistics as favorites. Oil companies are being forced to pay exorbitant prices for oil tankers as shipowners book vessels for storage and Saudi Arabia snaps up ships as it prepares to flood the market with crude. Chart. Oil tanker rates keep surging amid one of 'greatest quarters in history' Mar. Daily rates on main tanker routes as compiled by shipbroker Charles R. Weber. Working off-campus? 6 months Clean MR UKC/USAC - 37,000. As of April 2020, there were 810 very large crude carriers (VLCCs) worldwide. There’s no question that the geopolitical chaos engulfing the Middle East has helped boost oil tanker rates. April 21, 2020. This feature is limited to our corporate solutions. OL TAR SPLL STATSTCS 2020 ITOPF’s annual Oil Tanker Spill Statistics publication presents data on accidental spills of oil from tankers. The price of oil has plunged, but … New tanker charter contracts at extremely high rates confirm that a large wave of Saudi oil is definitely en route. Tanker Worldscale Rate. More; Global Directory. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Rates for VLCCs (very large crude carriers; tankers that carry 2 million barrels of crude oil) spiked to nearly $200,000 per day in October 2019, propelled by a confluence of events ranging from security threats to U.S. sanctions on Chinese tankers. Tanker rates are as much as 161% below record-breaking levels set a week ago as the dramatic, coronavirus-led collapse in crude demand overshadows the oil price war that sparked the earnings rally. If these rates can be sustained for a couple more months, 2Q 2020 could turn out to be one of the most profitable quarters in history for tanker owners. 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