Fuel Oil Transport – Singles Need Not Apply!

Of all forms of oil, fuel oil is one of the worst pollutants as it has no light ends to evaporate. It is a persistent pollutant that, for the most part, only nature can slowly disperse. The Erika, a Handymax of 36,694 dwt, sank in 1999 and a part of its fuel oil cargo reached the French coast creating a public uproar. Oil companies responded by chartering a greater percentage of cargoes on more modern and generally double hull tankers. The effective reduction in tanker supply by charterer preference for newer tonnage caused an upsurge in rates. Download here