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BIMCO shares guidance from OCIMF on inspection practices in relation to COVID-19

17 March 2020

With the aim to keep our members updated on issues related to the COVID-19 pandemic, BIMCO has reached out to Oil Companies International Marine Forum (OCIMF) to obtain the guidance they provide to inspectors of the Ship Inspection Report Programme (SIRE) and  Offshore Vessel Inspection Database (OVID). 

Libya getting back into tanker business

25 August 2011

Hope for resumed activity in the oil tanker business is growing as the rebellion in Libya appears to be near a conclusion. Tanker shipping has been hurt by the lack of cargoes out of Libya for half a year now. Oil majors and oil service companies are right now getting back to Libya to assess the conditions of the facilities. It is hoped that the oil production can restart soon, opening up for renewed fixing of tankers to lift Libyan oil exports. Without Libyan oil exports, there is no hope for improvements in the tanker rates in the Mediterranean.

Tanker market report dated 15 March 2019

18 March 2019

Opec crude production fell by 240,000 b/d in February to 30.68 million b/d, its lowest level in 4 years. February numbers show a significant over compliance, with Saudi Arabia leading efforts to implement cuts with a 153% compliance rate, some 170,000 b/d already below their overall target.  Iraq and Saudi Arabia alone contributed 170,000 b/d in additional cuts between them in February alone. However, having already cut production close to their original 2019 target, they may now be missing the opportunity to capture market share in the face of rising demand. The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.

Tanker market report dated 1 March 2019

04 March 2019

The US product export market has been transformed over the past decade. Exports of clean petroleum products (CPP) averaged 2.5 million b/d last year, up from just 0.8 million b/d in 2008. Rising trade has been underpinned by rapid growth in US crude production and refiners’ access to cheaper crude feedstock. Refining margins in the US Gulf have generally been stronger in recent years, compared to those seen in other regional markets.  The weekly tanker market report by Gibson Shipbrokers features an overview of the crude oil and oil product tanker market.