An oil tanker, also known as a petroleum tanker, is a merchant ship designed for the bulk transport of oil. There are two basic types of oil tankers: the crude tanker and the product tanker. Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries. Product tankers, generally much smaller, are designed to move refined products from refineries to points near consuming markets.
Oil tankers are often classified by their size as well as their occupation. The size classes range from inland or coastal tankers of a few thousand metric tons of deadweight (DWT) to the mammoth ultra large crude carriers (ULCCs) of 550,000DWT. Tankers move approximately 2,000,000,000 metric tons (2.2×109 short tons) of oil every year. Second only to pipelines in terms of efficiency, the average cost of oil transport by tanker amounts to only two or three United States cents per 1 US gallon (3.8L).
Among the most popular clean petroleum product tankers 15 years ago, the two tanker segments are now ageing fast with a scant orderbook and little appetite to contract new vessels ... The need for larger tankers is also down to the fact that export-orientated refineries constructed ...
The island was hit by a huge quake and tsunami two and a half years ago that killed thousands of people ... What we know so far. ... 2 ... 3 ... 4 ... 5 ... 6 ... 7 ... 8 ... Ambulance crews have been sent with 92 additional volunteers, clean water tankers and production units, tarpaulins for shelter, face masks with 200 family relief kits to aid survivors of the devastating tragedy.
A recovery in oil demand and production cuts will see stocks drawn down, putting pressure on tanker earnings in ... Although this analysis is based on tankers storing crude and fuel oil, it is important to note a large volume of refined products is also being storage on clean tankers.
The Pajaritos terminal and the Tuxpan terminal are the two main loading destinations for US refined products exports into Mexico, according to Kpler vessel tracking software ... Kpler showed very few clean or dirty tankers in the area June 3. Campeche is also one of the most active oil and gas exploration and production regions in the country.
The chemical tanker sector could be considered in the front line for impact from COVID-19 due to widespread disruption to economic activity in the manufacturing sector ... One bright spot is that chemical tanker market balances will be supported by the reduction of swing tonnage due to strength in the clean product tanker market.
... of clean product exceeds the current demand and that land-based storages are filling, which drives storage onto product tankers at sea,” said Joakim Norholm Vasehus, a spokesman at TormA/S, a 131-year old Copenhagen-based owner that operates dozens of refined-fuel tankers.
But back to the question, what is Torm Plc? The company is a United Kingdom-based company that owns and operates product tankers. The company transports clean petroleum products including gasoline, jet fuel, naphtha, and diesel oil, as well as other clean products ... There’s something to be said about oil tanker stocks right now.
On the clean side, we have seen increased interest in the LR2 sector for shorter periods of a maximum of a year, again for clean petroleum products storage, and fixture levels have moved up recently ... It is not unheard of for traders to use new vessels to store clean petroleum products which can only be done with virgin tanks.