Tanker Rates Skyrocket To Fill Colonial Pipeline Shortages
By Elizabeth Low (Bloomberg) Oil tanker charter rates skyrocketed in the U.S. with refiners scrambling for ships to store fuel that has nowhere to go due to a cyberattack on...
BEIJING, Jan 7 (Reuters) – A tanker carrying Iranian oil and run by the country’s top oil shipping operator was ablaze and spewing cargo into the East China Sea on Sunday after colliding with a Chinese bulk ship, leaving its 32 crew members missing.
The Panama-registered tanker was sailing from Iran to South Korea, carrying 136,000 tonnes of condensate, an ultra light crude. That is equivalent to just under 1 million barrels.
The damage and volume of oil spilled are not yet known.
Tanker incidents causing large oil spills – greater than 700 tonnes – have steadily reduced from an average 24.5 a year in the 1970s to 1.7 on average per year since 2010, according to the International Tanker Owners Pollution Federation (ITOPF).
Below is a list of the major oil tanker spills since 1970 from ITOPF’s database:
2007: Hebei Spirit off South Korea – 11,000 tonnes
2002: Prestige off Spain – 63,000 tonnes
1999: Erika off France – 20,000 tonnes
1996: Sea Empress off Wales, United Kingdom – 72,000 tonnes
1991: ABT Summer off Angola – 260,000 tonnes
1989: Khark 5 off Morocco – 70,000 tonnes
Exxon Valdez, Alaska – 37,000 tonnes
1983: Castillo de Bellver off South Africa – 252,000 tonnes
1979: Atlantic Empress in the Caribbean – 287,000 tonnes
The tonnages include all oil lost, including product which burnt or remained in a sunken vessel.
(Reporting by Josephine Mason; Editing by Susan Fenton)
(c) Copyright Thomson Reuters 2018.
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