SSG No 10 - Shipgaz

MARKET REPORTS
BUNKERS AND CRUDE OIL TRENDS
Week Rotterdam Bunkers Crude Oil
380 cSt, USD/t MDO, USD/t Brent, spot IPE, USD/brl
13 302 526 67.74
14 302 526 68.85
15 316 535 69.19
16 311 514 65.71
17 334 527 66.72
18 327 524 65.46
19 323 533 65.53
Quotations Friday each week. Source: Stockholm Chartering, www.stochart.com
CRUDE TANKER MARKETS
Size Route Week Worldscale Earnings
(USD/day)
VLCC Persian Gulf–UKC C/S 13 75.0 64,500
280,000 14 65.0 50,400
15 52.5 32,100
16 45.0 22,600
17 50.0 28,400
18 60.0 42,600
19 65.0 50,400
Suezmax Cross Med 13 220.0 107,100
130,000 14 140.0 57,600
15 110.0 38,200
16 115.0 41,600
17 180.0 80,500
18 115.0 40,700
19 135.0 53,300
Aframax North Sea–UKC 13 150.0 43,100
14 145.0 41,100
15 130.0 32,300
16 140.0 37,700
17 120.0 26,500
18 140.0 37,000
19 160.0 47,300
Quotations Friday each week. Source: Stockholm Chartering, www.stochart.com
Prosafe sign Australian
FPSO contract
ssg-tønsberg. Norwegian Prosafe is to
provide an Aframax-size FPSO for the Van
Gogh field off Australia in a seven-year deal
worth approximately USD 418 million.
There are options on another eight years.
Prosafe will be responsible for the engineering,
procurement, construction, installation,
commissioning and operation of the
FPSO. The vessel is expected to arrive at
the field in the fourth quarter of 2008. The
conversion will be based on the M/T
Kudam, an Aframax with double sides. The
FPSO will have a process facility of 150,000
barrels of fluids per day, a crude oil production
of 63,000 barrels of oil per day and an
oil storage capacity of 620,000 barrels.
Berge Larsen orders
world’s largest jackup
ssg-tønsberg. Norwegian investor and
industrialist Berge Larsen of Larsen Oil &
Gas has ordered the world’s largest jackup
rig at Jurong in Singapore for a staggering
USD 566.2 million. Delivery is scheduled
for July, 2010. USD 265 million is currently
being raised in the market – USD 80
million in equity and USD 185 via a bond
SHARE PRICE INDEX
Index 11/5 4/5
Broström Logistics* 110.79 112.70
OSE2030GI** 403.29 406.02
*Broström Logistics is a share price index that includes seven
Swedish as well as non-Swedish transportation and logistics
companies, publicly listed on European Stock Exchanges. For
further information, visit www.brostrom.se.
**OSE2030GI includes the shipping companies listed on the
Oslo Stock Exchange.
DRY CARGO MARKETS, LARGE CARRIERS
Size Route Week USD/t
Single voyages
Capesize Tubarao–Rotterdam 13 26.85
165,000 Iron Ore 14 27.25
15 27.50
16 27.60
17 28.80
18 29.50
19 29.80
Tripcharter Av. Earnings
(USD/day)
Panamax Cont–Far East 13 45,000
70,000 14 45,000
15 46,500
16 47,000
17 50,500
18 52,000
19 55,000
Handymax Transatlantic, round voyage 13 39,250
14 39,100
15 39,200
16 41,500
17 44,000
18 47,750
19 49,750
Source: Fearnleys, www.fearnleys.no
issue. Larsen Oil & Gas will provide USD
60 million of the equity.
Fred. Olsen to cooperate
with Marubeni
ssg-tønsberg. Norwegian operator Fred.
Olsen Productions has entered into a
strategic cooperation agreement with the
Japanese giant Marubeni Corporation in
order to identify and develop FSO/FPSO
projects in China, Vietnam, Cambodia and
Thailand. The cooperation with Marubeni
will ease Fred. Olsen’s market access to
these markets.
96 SCANDINAVIAN SHIPPING GAZETTE • MAY 21, 2007