AMSC Expects Strong Jones Act Tanker Market

AMSC Expects Strong Jones Act Tanker Market

The U.S. Jones Act tanker operator American Shipping Company (AMSC) ended 2014 with USD 23 million net profit, almost USD 8 million less than what it earned in 2013.

The Norway-based shipper recorded USD 87.6 million and USD 87.3 million operating revenues for the full year 2014 and 2013, while EBITDA for the full year 2014 and 2013 was USD 84.5 million and USD 84.2 million, respectively.

According to the AMSC, the recent fall in crude oil prices has introduced uncertainty to the long term shale oil production level, which can potentially impact the demand for Jones Act tankers in the future.

However, the company believes that the shale oil production will continue to increase through 2015, which will positively impact the U.S. tanker market.

With limited availability for new delivery slots at the two shipyards currently able to build product tankers for shipping within the U.S., the AMSC expects the Jones Act tanker market to remain firm going forward.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Offshore Energy Exhibition and Conference (OEEC) 2020

The three-day event includes an exhibition where an expected 600+ supply chain companies…

read more >

Maritime Reconnaissance and Surveillance Technology

As varied threats in the Mediterranean Sea continue to proliferate, the need to advance…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >