• Short Summary

    The world wide oil tankers slump continues, more and more ships are being laid up from Norway to Hong Kong, mainly because of the lower demand for oil, following the Arab price rises.

  • Description

    The world wide oil tankers slump continues, more and more ships are being laid up from Norway to Hong Kong, mainly because of the lower demand for oil, following the Arab price rises.
    So serious is the situation that Norwegian economists are urging their government to buy up the country's tanker fleet which is one of the world's foremost.
    Otherwise they fear that 80 vessels so far laid up, will have to be sold aboard, for knockdown prices.
    But the Norwegian Deputy Minister of Trade and Shipping has said that the government is studying a plan to prevent the sale of ships of foreign interests.
    Mr. David Vikoeran, a director of the Norway Shipowners Association called the situation "extraordinary".
    Its a similar situation in Hong Kong and elsewhere. Many are being scrapped greeting good business for the shipyards of spin and Thihan.
    Meanwhile, the cancellation of new tanker orders from the world's shipyards grows. While dozens of tankers are being held in the Persian Gulf waiting for suitable character rates to justify the journey back to European oil ports.
    Wherever they're laid up, the experts say that could have a long wait.
    SYNOPSIS: Norway -- one of the hardest hit by the world-wide oil tanker slump, because of the lower demand for oil caused by Arab price rises. So serious is the situation that Norwegian economists are urging the Government to buy up the country's tanker fleet which is one of the foremost in the world.
    The economists have warned that unless the government does act soon, the eighty vessels laid up so far in Norwegian waters, will be sold abroad for knockdown prices.
    But the Norwegian Government has said that its studying a plan to prevent their scale to foreign interests.
    The Norwegian Shipowners Association has called the situation "extraordinary".
    The Norwegians are not the only ones alarmed. Tanker owners around the world are sending vessels for scrap. And others are cancelling new ships as the lay-ups continue.
    Hong Kong, where the situation is similar to Norway -- and no sign of an improvement. Tanker character rates are still low.They are a key factor in the situation. They are measurement of an economic index equivalent of an "World Scale".
    Tanker owners say that before they can break even that on a voyage, the World Scale will have to rise to sixty.
    But world demand for oil is still falling inevitably demand for tankers will fall too -- and with them the character rates.

  • Tags

  • Data

    Film ID:
    VLVAB8H0CXFR0SI4EMZ5GPMQV2XEF
    Media URN:
    VLVAB8H0CXFR0SI4EMZ5GPMQV2XEF
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    18/08/1975
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:32:00
    Time in/Out:
    /
    Canister:
    N/A

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