Related Articles
Forward article link
Share PDF with colleagues

Tanker owners fight back on low charter rates

Tanker owners have launched an initiative to improve charter rates, which they say have fallen to levels which are consistently below basic operating costs

Intertanko, the London-based association representing independent tanker owners, is calling for a dialogue between owners and oil companies to ensure the sustainability of the tanker business and the global energy supply chain. "High-quality owners are going to the wall," says Katharina Stanzel, Intertanko's managing director, after four years of unfavourable trading conditions. As well as low rates - which reflect the world surplus of tanker capacity - Stanzel says owners are being hurt by late payments and by "the erosion of charter-party terms". Although tanker owners are supposed to be paid on completion of the cargo's discharge, Intertanko's members reported payment delays typically of

Also in this section
Gaza gas stranded at sea
16 January 2018
Palestinians' hopes that a gas discovery made offshore 18 years ago can be developed are unlikely to be realised soon
Kuwait goes for gas
16 January 2018
Despite the perennial shadow of political turbulence, upstream gas and LNG import projects are progressing
Energy Web Atlas Releases New Features for Real-Time LNG Intelligence Service
16 January 2018
Energy Web Atlas leads the market with expanded LNG and pipeline data and improved import and annotation functions