Out of these, 24 are due in the first quarter of 2019.
The strong supply sets a negative tone in the tanker market, especially in the wake of announced OPEC production cuts, which Gibson believes will keep tanker owners bearish at least in the first half of next year.
Some ease is expected from the potential for as many as 60+ VLCCs to go in for scrubber retrofitting at some stage next year, creating supply disruption.
However, on an annualized basis this may only account to the equivalent of just 4- 6 VLCCs taken out of the fleet, if it is assumed each retrofit takes 1 month, Gibson said.
“Of course, there are sensitivities on timings; if the bulk of the retrofits are concentrated in the second half of 2019 then the impact might appear greater, but on balance the significance could be limited. It also needs to be considered that some retrofits may take place during natural dry dockings, whilst this does not negate the impact, it must be considered that each year a certain number of dry dockings take place anyway,” the shipbroker added.
As explained, the potential downside is not just for VLCCs, as all crude carriers are likely to be impacted.
Beyond OPEC cuts, for the Aframaxes, the key downside risk is lower production from Russia. Suezmaxes will also be impacted by lower exports from the Middle East, Russia and perhaps West Africa with Nigeria now willing to participate in the deal.
Nevertheless, it is likely that the crude supply from the Americas will compensate for the portion of OPEC cuts, boosting at the same time tonne-mile demand. But Gibson is not sure whether the anticipated 1.1 million barrels per day increase in oil production from the Americas will be sufficient to absorb the expected fleet growth.(marine crane manufacturer;offshore crane manufacturer)
The TB series crane is designed as an electro-hydraulic driven telescopic boom crane, with integrated electro-hydraulic power unit, delivered as a complete unit ready for installation to vessels. The crane is equipped with hydraulic operated winch, hydraulic operated luffing and hydraulic operator extension and hydraulic operated slewing system.
The crane is installed with a rolled steel pedestal for bolting or welding to deck with a height of 1200mm and pedestal diameter is depend on the SWL of the crane. The standard TB crane will supply with an operator platform. Operator cabin is optional.
The crane and all it associated components / equipment shall be designed in accordance to any leading classification societies which is upon request. The crane shall be tested and adjusted ready for installation by welding or bolting to vessel deck. Power connection shall be provided for electrical supply through integrated electrical slip rings.(marine crane manufacturer;offshore crane manufacturer)
TB series crane: End User Advantages
1. Compact design
2. Small footprint
3. Delivered as one complete unit ready for installation to vessels
4. Easy access for periodic maintenance, service and repair
5.24 hours after sales services support.
# 360 C* continuous rotation.
# -10 C*----+45 C* working temperature.
# certified A36 & S690 steel structure.
# pedestal ready for mounting or weld to vessel main structure .
# stainless steel grease nipples.
# precise step less speed control.
# simultaneous operations of 2 or more function.
# emergency for hydraulic stop device.
# visual and audible warning alarm.
# lower temperature package up to -40 C*.
# certification for personal lifting.
# wireless remote control
# operator cabin with AC and heating.
# ATEX package and certification.
# man riding winch.
# centralized grease system.
# multiple setting of load limiting system.
# automatic overload protection system .
# warning and working lights.
# load indicator system.
# other upon request.
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