Worldwide Tanker Order Book Hits 15-Year High
Double Hulls Account For 28 Percent Of Tanker Orders Despite the fact that oil tanker contracting slowed down considerably last year from the 1990, the tanker order book worldwide is at its highest levels in 15 years, according to the Independent Tanker Owners Association (INTERTANKO).
At its highest level since 1976, the current tanker order book stands at 363 ships set for delivery between now and 1995. New construction pirces have begun to decline as demand for new ships drops. The cost of a new single-hull, 250,000-dwt tanker built in Japan peaked at $95 million in August-September 1991, according to Intertanko. At the end of February 1992, the price reportedly dropped to $87 million. This drop in price was not attributable to currency fluctuation, Intertanko notes.
In 1991, tankers of 12.9 million dwt were contracted to 27.5 million dwt in 1990. Tanker contracting slowed down in 1991, and during the last quarter of 1991, as 3.6 million dwt was ordered.
Almost all of the 1991 orders for Very Large Crude Carriers (VLCCs) were placed with Japanese and South Korean shipyards. A large percentage of the VLCC orders were placed as replacement of old ton- nage and committed to long-term charters. While Suezmax size tanker ordering dropped considerably in 1991, Aframax size vessel ordering remained very close to the contracting levels of 1990.
According to Clarkson Research Ltd., the oil tanker order book was 40.7 million dwt as of January 1, 1992, up 7 percent from January 1, 1991. This year, 196 tankers totaling 19.2 million dwt will be delivered—up 70 percent of 1991.
In 1993, 125 tankers totaling 15.2 million dwt will be delivered; and in 1994, 39 tankers amounting to 6.1 million dwt are scheduled for delivery.
About 76 percent of the orders have been placed with Far East yards, 13 percent in Western Europe, 6 percent in Eastern Europe and 5 percent in other regions.
Oil tankers specified with double sides, double bottoms or double skins, account for 28 percent of the order book. This year, 52 of these type tankers, totaling 5.3 million dwt, will be delivered. Next year, 32 others (4.1 million dwt) are scheduled for delivery; and an additional 10 (1.9 million dwt) in 1994. One double-hull VLCC will be delivered this year, followed by six in 1993 and five in 1994.
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Other stories from May 1992 issue
Content
- New Quality Assurance And Environmental/Safety Directors At IMC page: 4
- White House Promises New Merchant Marine Policy page: 4
- Major Changes Predicted For World Shipping Industry page: 6
- MHI Introduces New Bridge Operation Support System page: 6
- Comsat Develops Lightweight Satellite Battery page: 7
- Underwriters Told To Oppose Foreign Insurance Protectionism page: 7
- Fore River Yard Site Of $ 1.6-Billion Boston Project page: 7
- Overlay Finish For Fiber Ropes Improves Marine Performance page: 8
- MagneTek's PCB Testing Ensures EPA Compliance page: 9
- MagneTek's PCB Testing Ensures EPA Compliance page: 11
- NAVIONICS Introduces New Micro Chart Module page: 13
- Government And Oil Industry Begin Battle Over Oil Spill Assessments page: 13
- Inland Port Opened By Philadelphia page: 15
- IMC Announces New Board Of Directors, Corporate Officers page: 15
- AESA Appoints Gonzalez-Sama General Commercial Manager page: 17
- Ship Repair Revival Plan Outlined By San Francis page: 18
- Service Marine To Build HarrahVHammons Casino Boat For Illinois Operation page: 18
- Schichau Seebeckwerft Launches First Of Two Great White Fleet Reefers page: 19
- Del Norte Introduces Model 2006 GPS Receiver page: 19
- New Report Offers Detailed Study Of World Reefer Shipping page: 20
- R.H. Wager Opens New Mobile Office And Product Lines page: 20
- Double Christening Held For Avondale-Built National Marine Towboats page: 21
- DOUBLE HULL UPDATE page: 23
- New American Underpressure System —An Interim Solution page: 24
- 14 New Generation Double-Skin Tankers Being Built By Fincantieri page: 25
- Double-Hulled 'Patriot' Delivered By Samsung For Conoco Shipping page: 25
- HDW's Design For Double-Hull Tanker To Be European Standard page: 26
- Coast Guard Urges Unified Federal Spill Response Regulations page: 28
- Oil Pollution Act Spurs World Oil Industry To Drop Substandard Tankers page: 28
- Worldwide Tanker Order Book Hits 15-Year High page: 28
- Cruise Ship Zenith Delivered To Chandris Celebrity Cruises By Meyer Werft page: 29
- Diamond M-Odeco Teams With VODL To Enter Floating Production Market page: 29
- Newport News Markets Frigate Design To World page: 29
- Keel Layed For Cruise Ship Maasdam At Fincantieri Shipyard page: 29
- BOOM TIMES FOR KOREAN SHIPBUILDING page: 30
- MTlTs 595 Diesel Series Design Concept Proven Aboard Ferry 'Deutschland' page: 34
- Trinity Marine Awarded $31.2 Million Contract By U.S. Army To Build Two LSVs For Philippines Navy page: 36
- POSIDONIA 92 page: 37
- Tokimec's Marine Systems Division Offers Wide Range Of Navigation Equipment page: 38
- Port Of South Louisiana Plans To Turn Riverplex Into Intermodal Facility page: 39
- North Sea Operators Evaluating New Rig Concept For Long-Term Programs page: 39
- Boat Workers Rally For Luxury Tax Repeal page: 39
- EUROPEAN WORKBOAT SHOW page: 40
- Largest Cruise Liner Ever Built At Finnyards Delivered To Sally Line page: 41
- Bender Inc. Introduces New Portable Ground Fault Current Instrument page: 43
- NEI Syncrolift Receives Three Orders For Shiplifts And Transfer Systems page: 44
- Alden Electronics Introduces New Navtex AE-900 Receiver And Faxmate II Weather Chart Recorder page: 44
- 40th Annual Ft. Schuyler Forum Focuses On Marine Refrigeration And Diesel Engine Performance page: 44
- Glass Beads Demonstrated As Quick, Low-Cost Tool For Oil-Spill Cleanups page: 46
- Cruise Vessels To Be Built In Agreement Between McDermott/Swathtech page: 51
- Amclean Develops Multi-Nozzle Waterjet —Free Video Offered page: 51
- C. Plath Offers Free Color Brochure On Navipilot V page: 52
- New MSI-Operated Rotterdam Research, Training Center page: 52
- Guam Set To Become Key U.S. Military Outpost In Pacific page: 53
- CG Proposes New Rules For Unmanned Tanker Enginerooms page: 53
- Deep-Sea Towage, Salvage And Heavy-Lift Markets page: 54
- The Navy, MarAd, And RRF Deactivations page: 55
- Kranco Develops Automatic Synchronization Of Hoists Controls page: 56
- ABB Set To Get Power Supply System Job For Carnival's 'Imagination' page: 56
- Corps Of Engineers Asked To Fund More Renovations On Inland Waterways page: 57
- CD Based Government Logistics Data Available From USA Info Systems page: 57
- Major Conference On Oil Spill Laws & Response In Seattle, October '92 page: 58
- Open Committee On CG Oil Spill Legislation Completes 1 st Phase page: 58
- RORO 92 page: 60
- McQuay Chiller's QEII Experience Proves Reliability page: 61
- New Study Examines Under-Priced Ship Resale Market page: 62
- Raytheon Announces New Handheld VHF Radiotelephone page: 62
- Siemens To Supply Full Electrical System For New Research Vessel page: 62
- Propulsion System Demonstrator Powered By GE Gas Turbine page: 62
- Portland Box Volumes Up 25 Percent In February page: 62
- Washburn & Doughty Delivers Passenger/Auto Ferry Captain Henry Lee page: 64
- Crowley Maritime Celebrates 100 Years Of Service page: 64
- International Tug & Salvage Expo 1992 page: 66
- Capabilities Of Trinity Marine's New Beaumont Yard Highlighted page: 66
- NRC, Coastal And Phibro To Support Second National Response Network page: 67
- Mende Honored For Accomplishments In Marine Field page: 67
- U.S. NAVY FY 1993 page: 68
- Navy Expects To Award First Contracts From Sealift Fund In Early '93 page: 70
- MarAd Awards Yards Layberthing Contracts Worth $18 Million page: 71
- FY 1993 Budget For Coast Guard Shows Increase Over FY 1992 page: 71
- Appropriations Of $312 Million Requested For MarAd In FY 1993 page: 71
- Intermarine USA Launches Second Navy Minehunter page: 72
- DECK MACHINERY & CARGO-HAN DUNG EQUIPMENT page: 73
- USS Anzio, Ingall's 15th Aegis Cruiser Completed page: 81
- Wartsila's Vasa 32 Gas Diesel Now Ready For Global Sales page: 81
- Nichols Brothers Delivers 1,600-Passenger Dinner Boat For Hawaiian Service page: 83
- ABB Supplies Systems For New Icebreaker Being Built By Finnyards page: 84
- First Commercial Icebreaking Research Ship Delivered By North American page: 84