New jones observations

Exactly what I was going to say as well.

I’d suggest using anywhere other than Nigeria for evidence of environmental malfeasance by the oil majors. The damage done there from spills is absolutely most often “self inflicted” by locals trying to hot tap the pipelines.

That is minor and localized compared to the regional impact. There are many examples …

There were quite a few jones act tankers built in the USA in the 70’s and 80’s that are still floating, but I think under flag of convenience. Reflag them and run them to yankland.

Not sure how updated this list is.
http://shipbuildinghistory.com/shipssincewwii/3lngcs.htm

You’re the one that brought up Exxon Nigeria in the first place… that’s kinda shady using that as an example and then dropping it like a hot potato as “minor and localized” when it doesn’t garner the outrage you desired.

Oh, and if 40 million liters annually is “minor” to you, then what do you consider “major?”

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I see you have a reading comprehension problem so I won’t waste time responding to your trolls beyond your last effort.

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From Tradewinds -

Jones Act tanker fleet fully employed as short-term rates hit $65,000

Oslo-listed American Shipping Co (AMSC) expects the US Jones Act product tanker market to remain healthy for years yet.

The Lysaker-based owner said the entire fleet is fully employed, with short-term rates hitting $65,000 per day.

“The combination of demand for clean products across the US, increasing transportation needs for renewable diesel and favourable market conditions for transporting crude oil domestically drives the demand side in the Jones Act tanker market,” AMSC added.

The supply side of the market remains stable, with limited US yard capacity and rising newbuilding costs, making it unlikely that newbuildings will enter the market for years to come, the company said.

Norwegian investment bank Fearnley Securities said shipyards are tied up until 2026.

AMSC’s 10 tankers are a key part of the Jones Act fleet, representing about 30% of modern vessels employed in the trades.

The company said net profit rose to $5.1m in the third quarter, from $3.5m in 2021.

Bareboat revenue was stable at $22.3m. The contracted backlog is $185.3m.

AMSC is paying a dividend of $0.12 per share for the quarter.

Chief executive Pal Lothe Magnussen said: “We are pleased to have completed another quarter with steady financial performance.”

“We look forward to an active 2023, which we expect will bring growth in Ebitda and a continued focus on developing our fleet,” he added.

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Europe is shooting themselves in the foot not using russian oil, i suppose if the wef nato, usa and all breathing down their necks they’d gladly be using it and at a cheaper rate. That and nato or whoever (non-russian)_ blowing up the nordstream lines!
On day one of the biden administration, (or whoever is running it) the keystone project was shut down, leases curtailed for oil development and many other acts. yes, I know leases are on-going but they are in places no one will drill, (bad sites) , the evidence that the biden administration did this to intentionally drive prices up is overwhelming. the blockage at the L.A. ports should be a familiar fiasco to some of you. This massive effort to make the us dollar dominate is having a effect, i bought something in england yesterday and it’s now about 80 cents to a dollar!
anyway, since i started this post I could ask the administrator to shut it off because I don’t want people coming here to learn about shipping issues to be involved in something that sounds like it is on a news outlet comments section!

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Then why did you intentionally make a long-winded news outlet comment?

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I guess the management geniuses at OSG really screwed the pooch returning 3 ships back to the owner at the end of their lease duration…

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Pure pollitics in comments; not interested

I speak under correction here but isn’t the JA tug and barge fleet tonnage larger than the tanker fleet tonnage? I never see much duscussion on the utilization rates and impact (if any) these units have on charter or spot demand. Lots of focus on our little bitty tanker fleet though.

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Wow. People, you have the greatest research tool at your fingers, but you refuse to use it

The oil under the united states is almost all light oul. Light oil is used to make plastics. Tell me how a drop in the price of barbie dolls is going help with heating the north east.

I am taking almost every poster here to task for thinking light oil has ANYTHING WHATSOEVER to do with gasoline or cooking oil or heating oil!

The refineries in the US are made for HEAVY OIL, NOT LIGHT OIL!! Thats because it is far cheaper to buy imported HEAVY OIL and refine it than to build a refinery to use LIGHT OIL!

This has been a problem since the eighties, through both dem and rep presidents. And every argument used against Biden now are word for word the same argument used against Reagan and Bush.

I repeat:. THE OIL UNDER THE UNITED STATES IS LIGHT OIL. THERE ARE NO REFINERIES IN THE UNITED STATES THAT CAN REFINE LIGHT OIL INTO GASOLINE OR COOKING OR HEATING OIL! THE LIGHT OIL THAT IS USED IN THE UNITED STATES IS USED IN THE MAKING OF PLASTICS OR SOLD TO ASIAN COUNTRIES THAT HAVE REFINERIES FOR LIGHT OIL!

THIRD TIME:. THE OIL PRODUCED IN THE UNITED STATES IS LIGHT OIL. THE UNITED STATES DOES NOT HAVE ANY REFINERIES THAT CAN CONVERT LIGHT OIL TO GASOLINE OR COOKING OIL OR HEATING OIL!

This has been like this for 70 years. It is not a sudden issue that just popped up in the last two years. Politicians on both sides are fine with this because every ten years or so they can bash the other party over high gasoline prices.

The true cause over oil problems in the US is the citizen who doesn’t remember the same thing happening over and over and over and who does not demand from their government that light oil refineries be built in the US. Because as soon as gas prices fall like they will again, this becomes a non issue, so no light oil refineries will be built, and ten years from now the same issue will pop up again and the same arguments and blah blah blah.

And everytime this happens oil company revenues sky rocket so they are fine with congressional investigations that dont do anything.

Oil shortage winners are oil companies who charge more and make record profits and politicians who use these shortages to win reelections. Oil shortage losers are american citizens who cant afford gasoline cost increases. But these same citizens are the ones who do not demand refinery changes when gas prices drop.

And for the people here who are simply restating the false information they hear from their favorite politicians on BOTH sides - listen to the end of the song wont get fooled again. The new boss is the same as the old boss because of your foolishness.

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Same arguments are repeated incessantly by Sal Mercogliano but it seems all his efforts are wasted.

Who owns the largest refinery in the US? The one that can use sweet, sour, heavy, or light crude?

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Somehkw it always comes back to the Saudis.

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Hard to say, its not as cut and dried as you think. Probably Marathon. But a majority of refineries are not owned by oil companies, but privately owned and do not disclose capacities.
You need to understand what a major oil company is, like Chevron or BP. These companies lease the oil rights for an area in a oil rich country, own the oil rigs that pull the oil out of the ground, own the tankers and barrels that hold the oil, own the ships that move the oil to the refineries that they also own, refine the oil, and sale the product to retailers. There are only a handful of these companies.
There are i think 130 refineries in the US, but like i said private refineries dont report anything pubically.

No, it’s not “hard to say”, it takes about 15 seconds of research. Try it sometime.

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“These companies lease the oil rights for an area in a oil rich country, own the oil rigs that pull the oil out of the ground, own the tankers and barrels that hold the oil, own the ships that move the oil to the refineries that they also own, refine the oil, and sale the product to retailers.”

Brilliant summation of the oil bidness.

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