Abstract
OWING to world trade depression and to production problems within the industry, there is now actually available excess oil tanker tonnage over demand. Of the world's steam tanker tonnage 44 per cent is, however, more than fifteen years old, consequently new tankers will shortly have to be constructed to replace these and to meet anticipated increase in demand when trade recovers, Mr. R. F. Hand read a paper on April 5 before the North East Coast Institution of Engineers and Shipbuilders, in which he indicated some of the problems attendant on ocean transportation of petroleum in bulk. Groat caTe must be exercised in allocating vessels for specific work, aecount being taken of condition, size, position and capability of the tanker to carry the cargo in question. Freights cannot be imposed on a basis of cost plus a reasonable margin of profit, but must be fixed at a rate which the traffic can bear. Ultimate profit must be envisaged over a number of years, and provision made for periods when goods may actually have to be carried at a loss. A classification is suggested for petroleum products from the point of view of marine transport and types of vessel most suitable for carrying the various grades indicated. Operating costs are difficult to assess at the present time owing to the complex foreign exchange situation; but such data as are available prove that though the motor tanker is more economical for long hauls it is not always so in the case of short hauls.
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Ocean Transportation of Petroleum in Bulk. Nature 136, 255 (1935). https://doi.org/10.1038/136255a0
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DOI: https://doi.org/10.1038/136255a0