Record Fleet of Ships Heading to Load Oil in USA Keeps Growing - Rigzone News

Record Fleet of Ships Heading to Load Oil in USA Keeps Growing | Rigzone

Record Fleet of Ships Heading to Load Oil in USA Keeps Growing

The record number of supertankers sailing toward the shores of the US is getting ever larger.

There are 51 ships headed to the nation’s ports over the next three months. That’s the most in at least six years, climbing by three from the previous week’s record. About 80% of the vessels are empty, indicating that they intend to pick up cargoes in the US.

The growing volume comes after US crude exports surged this year to a record. Overseas shipments have averaged 4.1 million barrels a day, based on the Energy Information Administration’s weekly data, up from 3.5 million in 2022. That’s helped offset some of the supply losses arising from output curbs by the Organization of Petroleum Exporting Countries and its allies.

Earnings for giant tankers capable of hauling 2 million barrels of crude jumped last month, in part led by higher demand for shipments from the US Gulf. They climbed above $30,000 a day, the highest since June, according to data from the Baltic Exchange in London.

Earlier this week, London-based shipbroker EA Gibson said the glut of ships also included vessels heading to the region on a speculative basis, without any cargo bookings. Stronger winter demand could mean higher earnings for those tankers when they reach the US, according to Svetlana Lobaciova, a principal analyst at the firm.

WHAT DO YOU THINK?

Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

- USA EIA Lowers Brent Oil Price Forecasts
- Adnoc Offers to Buy Controlling Stake in Braskem for $2.1B
- Alaska Judge Sides With ConocoPhillips on New $7.5B Oil Project
- Equinor Has Made Four Discoveries in Norwegian North Sea This Year
- UK Gov Introduces Offshore Petroleum Licensing Bill to Parliament
- Record Fleet of Ships Heading to Load Oil in USA Keeps Growing
- Market Now Skeptical of Supply Disruption Events
- Heirloom Launches California DAC Plant with 1,000-Ton Capacity
- Ovintiv Raises Projected Output for 2023 Buoyed by Permian Results
- Oil Posts Third Weekly Loss as Demand Fears Grow

- Petronas Makes Another Oil Discovery in Suriname
- These Energy Majors Are Hiring Right Now
- Oil Prices Are Being Torn Between These 2 Factors
- Alternative Shale Indicators Continue to Exhibit Resilience
- USA Energy Dept Looking to Buy More Oil for Petroleum Reserve
- Shell Prefers Share Buybacks over Big Acquisitions: CEO
- Venezuela, France's M&P Sign Deal to Raise Oil Production
- North America Loses Rigs Again
- House Passage of DOI Appropriations Act Dubbed Resounding Win
- USA EIA Lowers Brent Oil Price Forecasts

- Where Does Israel Get Its 220,000 Barrels of Oil Every Day?
- It's Very Difficult for USA to Reload Strategic Petroleum Reserve
- How Much Oil is Iran Producing?
- India Rejecting Russian Demands to Pay for Oil in Yuan
- What Are the Latest Oil and Gas Recruitment Trends?
- Exxon Becomes World's First Megamajor
- Beach Energy Makes Another Gas Discovery in Perth Basin
- Dana Confirms New Hydrocarbon Find in UK North Sea
- Chevron to Buy Hess for $53B
- Exxon Makes Up for Lost Time With $60B Shale Deal