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Top Ships Inc. Message Board

  • mikecline3 mikecline3 Jun 21, 2006 6:54 PM Flag

    trouble tankers

    there is a thing called insurance that that fro does carry if it is there ship

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    • <<there is a thing called insurance that that fro does carry if it is there ship>

      According to the story, the abandoned ship is owned by another company and operated by FRO. The latter is probably indemnified against lilability for causing a loss, the cargo is insured to protect the owner of the oil, and the ship is insured to cover the owner's debt/asset.

      What the event has done is remove one tanker from the fleet. I don't know what that means as a percentage of fleet capacity, but I'm sure it will impact FRO earnings.

      Does anyone here have a handle on what % of the entire tanker fleet a tanker of the size of the one now out of service is and how it would impact capacity going forward?

      • 1 Reply to lifewithporpoise
      • It appears that FRO owns or operates over 79 ships, including 3 dry bulk carriers to supplement their wet fleet. One ship out, though relevant, will not make a big difference, especially if out only temporarily.

        It appears TOPT owns and operates 27 ships currently, either 26 or 27 being double hulled, and most product rather than crude carriers.

        I read recently that TOPT plans to do a bunch of dry docking for purposes of cleaning and refitting much of their fleet in the coming months during what is normally the seasonal slow period in preparation for a strong winter. I do not know how long it takes one ship on average to have a clean and refit completed and available to be put back into operation. Does anyone know?

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