Life Aboard a Teekay Crude Oil Tanker

Based in Vancouver, Canada, Teekay Corporation (NYSE:TK) owns and operates one of many world’s largest fleets of oil tankers, fuel carriers, offshore vessels and floating services which collectively, play a significant function in help of the worldwide power infrastructure.

Most of the time, these wonderful vessels quietly go about their enterprise plying the world’s oceans out of sight and out of thoughts of most people.

Thanks to the explosion of digital media in recent times, and its huge acceptance as a useful gizmo for firms to attach with their shoppers, their trade and most people, we now get to see inside a world that the majority by no means have the chance to expertise.

The following video was shot by Teekay aboard their 12 12 months previous, 151,849 deadweight crude oil tanker, European Spirit because it sailed from Los Angeles to San Francisco.

Suezmax-sized ships just like the European Spirit are incomes roughly USD $40,000 to $45,000 per day which is at or close to their highest degree because the monetary disaster, in response to Teekay’s Manager of Market Research, Christian Waldegrave.

Normally, as a consequence of deliberate upkeep by refineries, decrease demand for refinery feedstock (crude oil) has resulted in decrease charges for crude oil tankers, nevertheless Waldegrave notes that as a consequence of very excessive margins for refiners, the throughput for refineries that haven’t gone into upkeep is at a really excessive degree. This scenario has supported the continued demand for crude oil tankers.

For the remainder of the 12 months, Waldegrave sees a continued constructive panorama inside the tanker sector supported by excessive crude oil manufacturing, excessive demand for feedstock by refiners and little or no fleet development.

Watch his presentation right here: