Tanker Weekly – September 26, 2011

(For The Week Ending September 23, 2011)

Baltic Dirty Tanker Index rose 1.6%; Baltic Clean Tanker Index rose 3.7%.

This Bloomberg article depicts situation in tanker markets.

Bloomberg: Shipowner Is Mothballing First New Tanker Since 1980s

A shipowner will mothball a newly built tanker for the first time since the 1980s as a glut of the ships erodes earnings.

The aframax tanker, capable of carrying about 600,000 barrels of crude, will be sent to a natural harbor in Malaysia, Carl Schou, Kuala Lumpur-based president of Wilhelmsen Ship Management, which will oversee the deactivation, said by phone and e-mail. He declined to identify the ship because the details are private.


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