Stena Sonangol Suezmax Pool

Stena Sonangol Suezmax Pool is a joint venture between the tanker owner Stena Bulk and the Angolan energy company Sonangol.

SECOND QUARTER 2017 RESULTS

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SECOND QUARTER 2017 RESULTS

 

- Sonangol Cazenga delivered into the Pool in April 2017
- Sonangol Maiombe delivered into the Pool in June 2017
- Densa Whale redelivered back to owners in June 2017
- 2 vessels attended regulary scheduled drydocks

The second quarter TCE returns took a sharp downward correction compared to the first quarter. The tanker rates suffered from low activity and high newbuilding deliveries and as a result rates were down substantially in all segments. The Suezmax sector is being hampered by excess tonnage with 29 ships delivered year to date and 31 more to come. This current situation does not look likely to change in the coming months. On the demand side, on-going curbs in supply from the Middle East, increase in volumes seen from West Africa in May and the potential for the longer haul suezmax trade from West Africa and the Caribbean to Asia all give hope that there are better days ahead.

The Pool continues to operate at a high effeciency with 66.1% ship days earning revenue for the quarter as compared to 70.2% for a rolling 12 month average.

PDF icon 2nd qtr 2017 highlites.pdf
Publish date: 
2017-08-03

Quarter results

Quarter

Revenue days

TCE/Revenue days

Q4 2018
2,089 days
26,343 US$/day
Q3 2018
2,062 days
15,967 US$/day
Q2 2018
1,829 days
14,750 US$/day
Q1 2018
1,642 days
13,616 US$/day
Q4 2017
1,529 days
19,303 US$/day
Q3 2017
1,527 days
14,383 US$/day
Q2 2017
1,689 days
17,083 US$/day
Q1 2017
1,685 days
24,719 US$/day
Q4 2016
1,697 days
24,882 US$/day
Q3 2016
1,724 days
20,794 US$/day
Q2 2016
1,639 days
33,953 US$/day
Q1 2016
1,633 days
36,561 US$/day
* TCE/Revenue day exludes owner's offhire, drydock, and unexpected owner items where vessel is not available to the Pool