Shipping Glut: Idle tankers 42 KM long !

[GoFlyKiteNow]

Tanker Glut Signals 25% Freight Decline as 26 Miles of Ships Meet Demand

by admin on December 28, 2009

By Alaric Nightingale and Alexander Kwiatkowski Dec. 28 (Bloomberg) — A 26-mile-long line (42 Km ) of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year.

The ships will unload 26 percent of the crude and oil products they are storing in six months, adding to vessel supply and pushing rates for supertankers down to an average of $30,000 a day next year, compared with $40,212 now, according to the median estimate in a Bloomberg News survey of 15 analysts, traders and shipbrokers.

 

[halsey02]

At Sentosa Cove...you won't see any sea tankers!..no sir!, MPA will assure that, it is out of bounds!

 

[shelltox]

Tanker Glut Signals 25% Freight Decline as 26 Miles of Ships Meet Demand

by admin on December 28, 2009

By Alaric Nightingale and Alexander Kwiatkowski Dec. 28 (Bloomberg) — A 26-mile-long line (42 Km ) of idled oil tankers, enough to blockade the English Channel, may signal a 25 percent slump in freight rates next year.

The ships will unload 26 percent of the crude and oil products they are storing in six months, adding to vessel supply and pushing rates for supertankers down to an average of $30,000 a day next year, compared with $40,212 now, according to the median estimate in a Bloomberg News survey of 15 analysts, traders and shipbrokers.

You dont have to go that far, just take a boat to pengarang (the popular seafood place for lobster)from changi point and offshore there are more than 100 ships of all types and oil rigs park offshore.