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75-686: This natural bay was extended to supply oil tankers . Despite the presence of the Oil Refinery, beaches near the bay are healthy and the water is crystalline. The nearest cities to Amuay are Judibana and Punto Fijo . Amuay appears for first time in a map by the year 1800. Its first inhabitants belonged to the native tribe "Amuayes", who populated the Paraguana Peninsula with the "Moruyes" tribe members. They used to exchange products by barter. Amuay means " caquetío " in their native language: Place where water and winds meet . Until 1947 it

150-570: A 40,000  DWT tanker, $ 60.7 million for a 80,000–95,000  DWT , $ 73 million for a 130,000–150,000  DWT , and $ 116 million for 250,000–280,000  DWT tanker. For a concrete example, in 2006, Bonheur subsidiary First Olsen paid $ 76.5 million for Knock Sheen , a 159,899 DWT tanker. The cost of operating the largest tankers, the Very Large Crude Carriers, is currently between $ 10,000 and $ 12,000 per day. Oil tankers generally have from 8 to 12 tanks. Each tank

225-518: A center of innovation after Edwin Drake had struck oil near Titusville, Pennsylvania . Break-bulk boats and barges were originally used to transport Pennsylvania oil in 40-US-gallon (150 L) wooden barrels. But transport by barrel had several problems. The first problem was weight: they weighed 29 kilograms (64 lb), representing 20% of the total weight of a full barrel. Other problems with barrels were their expense, their tendency to leak, and

300-503: A country, called its flag state . A ship's flag state exercises regulatory control over the vessel and is required to inspect it regularly, certify the ship's equipment and crew, and issue safety and pollution prevention documents. As of 2007, the United States Central Intelligence Agency statistics count 4,295 oil tankers of 1,000 long tons deadweight (DWT) or greater worldwide. Panama

375-470: A few thousand metric tons of deadweight (DWT) to ultra-large crude carriers (ULCCs) of 550,000  DWT . Tankers move approximately 2.0  billion metric tons (2.2 billion short tons ) of oil every year. Second only to pipelines in terms of efficiency, the average cost of transport of crude oil by tanker amounts to only US$ 5 to $ 8 per cubic metre ($ 0.02 to $ 0.03 per US gallon). Some specialized types of oil tankers have evolved. One of these

450-478: A major symbol in the regional identity of the North East of England, the river plays host to a plethora of different species, the number of which is growing year on year in line with the rivers improving health. The trail looks to capture the imagination of residents and tourists visiting the area – providing them with the ultimate 'fact finding' design experience, which celebrates the salmon's migratory journey in

525-636: A set of 21 vertical watertight compartments for extra buoyancy . The ship had a length overall of 56 metres (184 ft), a beam of 8.2 metres (27 ft), and a draft of 2.7 metres (9 ft). Unlike later Nobel tankers, the Zoroaster design was built small enough to sail from Sweden to the Caspian by way of the Baltic Sea , Lake Ladoga , Lake Onega , the Rybinsk and Mariinsk Canals and

600-526: Is a community-based organisation that works to improve habitat , promote better understanding of the Tyne catchment area and build the reputation of the Tyne catchment as a place of environmental excellence. With its proximity to surrounding coalfields , the Tyne was a major route for the export of coal from the 13th century until the decline of the coal mining industry in North East England in

675-872: Is located in the Paraguana Peninsula which is a duty-free zone since year 1998. Near to Amuay is a Eurobuilding Hotel called Villa Caribe, malls, beaches and clubs. 11°47′N 70°14′W  /  11.783°N 70.233°W  / 11.783; -70.233 Oil tankers An oil tanker , also known as a petroleum tanker , is a ship designed for the bulk transport of oil or its products. There are two basic types of oil tankers: crude tankers and product tankers . Crude tankers move large quantities of unrefined crude oil from its point of extraction to refineries . Product tankers, generally much smaller, are designed to move refined products from refineries to points near consuming markets. Oil tankers are often classified by their size as well as their occupation. The size classes range from inland or coastal tankers of

750-413: Is more efficient, and better protection in low-impact collisions and grounding. The same report lists the following as some drawbacks to the double-hull design, including higher build costs, greater operating expenses (e.g. higher canal and port tariffs), difficulties in ballast tank ventilation, the fact that ballast tanks need continuous monitoring and maintenance, increased transverse free surface,

825-454: Is split into two or three independent compartments by fore-and-aft bulkheads. The tanks are numbered with tank one being the forwardmost. Individual compartments are referred to by the tank number and the athwartships position, such as "one port", "three starboard", or "six center". A cofferdam is a small space left open between two bulkheads, to give protection from heat, fire, or collision. Tankers generally have cofferdams forward and aft of

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900-436: Is the naval replenishment oiler , a tanker which can fuel a moving vessel . Combination ore-bulk-oil carriers and permanently moored floating storage units are two other variations on the standard oil tanker design. Oil tankers have been involved in a number of damaging and high-profile oil spills . The technology of oil transportation has evolved alongside the oil industry. Although human use of oil reaches to prehistory,

975-473: The London Tanker Brokers' Panel (LTBP) . At first, they divided the groups as General Purpose for tankers under 25,000 tons deadweight (DWT); Medium Range for ships between 25,000 and 45,000 DWT and Long Range for the then-enormous ships that were larger than 45,000 DWT. The ships became larger during the 1970s, which prompted rescaling. The system was developed for tax reasons as

1050-522: The Oppama shipyard by Sumitomo Heavy Industries, Ltd. , named Seawise Giant . This ship was built with a capacity of 564,763  DWT , a length overall of 458.45 metres (1,504.1 ft) and a draft of 24.611 metres (80.74 ft). She had 46 tanks, 31,541 square metres (339,500 sq ft) of deck, and at her full load draft, could not navigate the English Channel . Seawise Giant

1125-671: The Standard Oil Company along with several of her sister ships . After Glückauf was lost in 1893 after being grounded in fog, Standard Oil purchased the sister ships. The 1880s also saw the beginnings of the Asian oil trade. The idea that led to moving Russian oil to the Far East via the Suez Canal was the brainchild of two men: importer Marcus Samuel and shipowner/broker Fred Lane. Prior bids to move oil through

1200-537: The V-Plus size designation. With the exception of the pipeline, the tanker is the most cost-effective way to move oil today. Worldwide, tankers carry some 2 billion barrels (3.2 × 10  L) annually, and the cost of transportation by tanker amounts to only US$ 0.02 per gallon at the pump. In 1954, Shell Oil developed the "average freight rate assessment" (AFRA) system which classifies tankers of different sizes. To make it an independent instrument, Shell consulted

1275-585: The Volga River . The aft and the stern was put together and then dismantled to make room for the mid-section as the Caspian Sea was reached. In 1883, oil tanker design took a large step forward. Working for the Nobel company, British engineer Colonel Henry F. Swan designed a set of three Nobel tankers. Instead of one or two large holds, Swan's design used several holds which spanned the width, or beam, of

1350-530: The Greek Hellespont Steamship Corporation. Hellespont sold these ships to Overseas Shipholding Group and Euronav in 2004. Each of the sister ships has a capacity of over 441,500  DWT , a length overall of 380.0 metres (1,246.7 ft) and a cargo capacity of 3,166,353 barrels (503,409,900 L). They were the first ULCCs to be double-hulled. To differentiate them from smaller ULCCs, these ships are sometimes given

1425-576: The Marine Board of the National Academy of Sciences conducted a survey of industry experts regarding the pros and cons of double-hull design. Some of the advantages of the double-hull design that were mentioned include ease of ballasting in emergency situations, reduced practice of saltwater ballasting in cargo tanks decreases corrosion, increased environmental protection, cargo discharge is quicker, more complete and easier, tank washing

1500-617: The Northeast of England. FINS, REFLECTION and JOURNEY were the first three cubes to be launched in December 2007 from a family of ten. Each cube is inspired by the textures, changing colours, movement and journey of the salmon. With each offering a 'modern day keepsake' to take away, in the form of a designed Bluetooth message. The other cubes will be moving along the River Tyne over one year visiting different locations from Kielder to

1575-641: The Pennines is referred to as the Tyne Gap. From the confluence of the North and South Tyne at Warden, the river flows east through Northumberland by Hexham, Corbridge and Prudhoe and enters the county of Tyne and Wear to the east of Wylam . The river subsequently forms the boundary between Newcastle upon Tyne on the north bank and the Borough of Gateshead on the south bank for 13 miles (21 km), in

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1650-698: The River Wear. Ptolemy's Tína could be a "misplaced reference" to either this river or the Tyne in East Lothian. There is a theory that * tīn was a word that meant "river" in the local Celtic language or in a language spoken in England before the Celts came: compare Tardebigge . A supposed pre-Celtic root *tei , meaning 'to melt, to flow' has also been proposed as an etymological explanation of

1725-780: The Scottish border. It flows southeast through the village of Kielder before entering first Bakethin Reservoir and then Kielder Water , both set within Kielder Forest . It then passes by the village of Bellingham before the River Rede enters as a left-bank tributary at Redesmouth . It passes Hadrian's Wall near Chollerford before joining the South Tyne near Warden to the northwest of Hexham. The South Tyne rises at Tyne Head on Alston Moor , Cumbria close to

1800-594: The South Tyne, which converge at Warden near Hexham in Northumberland at a place dubbed 'The Meeting of the Waters'. The Tyne Rivers Trust measure the whole Tyne catchment as 2,936 km (1,134 square miles), containing 4,399 km (2,733 miles) of waterways. The Ordnance Survey records 'the source of the North Tyne river' at grid reference NY 605974 at Deadwater, a few tens of metres short of

1875-755: The Suez Canal contributed, as did nationalization of Middle East oil refineries . Fierce competition among shipowners also played a part. But apart from these considerations is a simple economic advantage: the larger an oil tanker is, the more cheaply it can move crude oil, and the better it can help meet growing demands for oil. In 1955 the world's largest supertanker was 30,708  GRT and 47,500 LT  DWT : SS Spyros Niarchos launched that year by Vickers Armstrongs Shipbuilders Ltd in England for Greek shipping magnate Stavros Niarchos . In 1958 United States shipping magnate Daniel K. Ludwig broke

1950-479: The Tyne and similarly named rivers, as has a Brittonic derivative of Indo-European *teihx , meaning 'to be dirty' ( Welsh tail , 'manure'). LJ Ross ' thriller Seven Bridges from the DCI Ryan series evolves around the Tyne bridges. The river is represented, and personified, in a sculpture unveiled in 1968 as part of the new Civic Centre (seat of Newcastle City Council ). Sculpted by David Wynne ,

2025-512: The United Kingdom consumed about 1.6 million barrels (250,000 m ) of oil per day in 2009. ULCCs commissioned in the 1970s were the largest vessels ever built, but have all now been scrapped. A few newer ULCCs remain in service, none of which are more than 400 meters long. Because of their size, supertankers often cannot enter port fully loaded. These ships can take on their cargo at offshore platforms and single-point moorings . On

2100-519: The United States and the United Kingdom only had 59 and 27 registered oil tankers, respectively. In 2005, the average age of oil tankers worldwide was 10 years. Of these, 31.6% were under 4 years old and 14.3% were over 20 years old. In 2005, 475 new oil tankers were built, accounting for 30.7 million  DWT . The average size for these new tankers was 64,632  DWT . Nineteen of these were VLCC size, 19 were Suezmax, 51 were Aframax, and

2175-534: The canal had been rejected by the Suez Canal Company as being too risky. Samuel approached the problem a different way: asking the company for the specifications of a tanker it would allow through the canal. Armed with the canal company's specifications, Samuel ordered three tankers from William Gray & Company in northern England. Named Murex , Conch and Clam , each had a capacity of 5,010 long tons of deadweight. These three ships were

2250-487: The cargo tanks, and sometimes between individual tanks. A pumproom houses all the pumps connected to a tanker's cargo lines. Some larger tankers have two pumprooms. A pumproom generally spans the total breadth of the ship. A major component of tanker architecture is the design of the hull or outer structure. A tanker with a single outer shell between the product and the ocean is said to be "single-hulled". Most newer tankers are " double hulled ", with an extra space between

2325-482: The cargo to expand and contract due to temperature changes, and providing a method to ventilate the tanks. The first successful oil tanker was Zoroaster , built by Sven Alexander Almqvist in Motala Verkstad , which carried its 246 metric tons (242 long tons ) of kerosene cargo in two iron tanks joined by pipes. One tank was forward of the midships engine room and the other was aft. The ship also featured

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2400-489: The charterer. Time charter arrangements specify a daily rate, and port costs and voyage expenses are also generally paid by the charterer. The Worldwide Tanker Normal Freight Scale, often referred to as Worldscale, is established and governed jointly by the Worldscale Associations of London and New York. Worldscale establishes a baseline price for carrying a metric ton of product between any two ports in

2475-519: The company had 34 steam-driven oil tankers, compared to Standard Oil's four case-oil steamers and 16 sailing tankers. Until 1956, tankers were designed to be able to navigate the Suez Canal. This size restriction became much less of a priority after the closing of the canal during the Suez Crisis of 1956. Forced to move oil around the Cape of Good Hope , shipowners realized that bigger tankers were

2550-607: The course of the Tyne) and joining the North Sea at Sunderland . The River Tyne is estimated to be around 30 million years old. The conservation of the Tyne has been handled by various bodies over the past 500 years. Conservation bodies have included: Newcastle Trinity House , and the Tyne Improvement Commission. The Tyne Improvement Commission conservation lasted from 1850 until 1968. The 1850–1950 era

2625-472: The course of which it flows under ten bridges. To the east of Gateshead and Newcastle, the Tyne divides Hebburn and Jarrow on the south bank from Walker and Wallsend on the north bank. The Tyne Tunnel runs under the river to link Jarrow and Wallsend. Finally the river flows between South Shields and Tynemouth into the North Sea . Thomas John Taylor (1810–1861) theorised that the main course of

2700-416: The crew and maintaining the vessel. Finally, in a contract of affreightment or COA, the charterer specifies a total volume of cargo to be carried in a specific time period and in specific sizes, for example a COA could be specified as 1 million barrels (160,000 m ) of JP-5 in a year's time in 25,000-barrel (4,000 m ) shipments. One of the key aspects of any charter party is the freight rate , or

2775-499: The demand for new ships started to grow, resulting in 2007 in a record breaking order backlog for shipyards, exceeding their capacity with rising newbuilding prices as a result. This resulted in a glut of ships when demand dropped due to a weakened global economy and dramatically reduced demand in the United States. The charter rate for very large crude carriers, which carry two million barrels of oil, had peaked at $ 309,601 per day in 2007 but had dropped to $ 7,085 per day by 2012, far below

2850-513: The fact that they were generally used only once. The expense was significant: for example, in the early years of the Russian oil industry, barrels accounted for half the cost of petroleum production. In 1863, two sail-driven tankers were built on England's River Tyne . These were followed in 1873 by the first oil-tank steamer, Vaderland (Fatherland), which was built by Palmers Shipbuilding and Iron Company for Belgian owners. The vessel's use

2925-400: The first modern commercial exploitation dates back to James Young 's manufacture of paraffin in 1850. In the early 1850s, oil began to be exported from Upper Burma, then a British colony. The oil was moved in earthenware vessels to the river bank where it was then poured into boat holds for transportation to Britain. In the 1860s, Pennsylvania oil fields became a major supplier of oil, and

3000-572: The first tankers of the Tank Syndicate, forerunner of today's Royal Dutch Shell company. With facilities prepared in Jakarta , Singapore , Bangkok , Saigon , Hong Kong , Shanghai , and Kobe , the fledgling Shell company was ready to become Standard Oil's first challenger in the Asian market. On August 24, 1892, Murex became the first tanker to pass through the Suez Canal . By the time Shell merged with Royal Dutch Petroleum in 1907,

3075-476: The greater number of surfaces to maintain, the risk of explosions in double-hull spaces if a vapor detection system not fitted, and that cleaning ballast tanks is more difficult for double hull ships. River Tyne The River Tyne / ˈ t aɪ n / is a river in North East England . Its length (excluding tributaries) is 73 miles (118 km). It is formed by the North Tyne and

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3150-547: The hull and the storage tanks. Hybrid designs such as "double-bottom" and "double-sided" combine aspects of single and double-hull designs. All single-hulled tankers around the world will be phased out by 2026, in accordance with the International Convention for the Prevention of Pollution from Ships, 1973 (MARPOL). The United Nations has decided to phase out single hull oil tankers by 2010. In 1998,

3225-534: The key to more efficient transport. While a typical T2 tanker of the World War II era was 162 metres (532 ft) long and had a capacity of 16,500  DWT , the ultra-large crude carriers (ULCC) built in the 1970s were over 400 metres (1,300 ft) long and had a capacity of 500,000  DWT . Several factors encouraged this growth. Hostilities in the Middle East which interrupted traffic through

3300-432: The late 19th century, one of the largest oil companies in the world. Ludvig was a pioneer in the development of early oil tankers. He first experimented with carrying oil in bulk on single-hulled barges. Turning his attention to self-propelled tankships, he faced a number of challenges. A primary concern was to keep the cargo and fumes well away from the engine room to avoid fires. Other challenges included allowing for

3375-416: The massive bronze figure River God Tyne incorporates flowing water into its design. The Environment Agency is currently working with architects and cultural consultancy xsite, in collaboration with Commissions North, to create a travelling sculpture trail along the River Tyne. The Tyne Salmon Trail will serve as a celebration of the river, its heritage and its increasingly diverse ecosystem. Historically

3450-438: The operating costs of these ships. As a result, several tanker operators laid up their ships. Prices rose significantly in 2015 and early 2016, but delivery of new tankers was projected to keep prices in check. Owners of large oil tanker fleets include Teekay Corporation , A P Moller Maersk , DS Torm , Frontline , MOL Tankship Management , Overseas Shipholding Group , and Euronav . In 2005, oil tankers made up 36.9% of

3525-430: The other end of the journey, they often pump their cargo off to smaller tankers at designated lightering points off-coast. Supertanker routes are typically long, requiring them to stay at sea for extended periods, often around seventy days at a time. The act of hiring a ship to carry cargo is called chartering. (The contract itself is known as a charter party . ) Tankers are hired by four types of charter agreements:

3600-425: The past, ships of the smaller Aframax and Suezmax classes are no longer regarded as supertankers. "Supertankers" are the largest oil tankers, and the largest mobile man-made structures. They include very large and ultra-large crude carriers (VLCCs and ULCCs – see above) with capacities over 250,000 DWT. These ships can transport 2,000,000 barrels (320,000 m ) of oil/318,000 metric tons. By way of comparison,

3675-581: The price specified for carriage of cargo. The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. In a lump sum rate arrangement, a fixed price is negotiated for the delivery of a specified cargo, and the ship's owner/operator is responsible to pay for all port costs and other voyage expenses. Rate per ton arrangements are used mostly in chemical tanker chartering, and differ from lump sum rates in that port costs and voyage expenses are generally paid by

3750-528: The record of 100,000 long tons of heavy displacement. His Universe Apollo displaced 104,500 long tons, a 23% increase from the previous record-holder, Universe Leader which also belonged to Ludwig. The first tanker over 100,000 dwt built in Europe was the British Admiral . The ship was launched at Barrow-in-Furness in 1965 by Elizabeth II . The world's largest supertanker was built in 1979 at

3825-788: The rest consisted of refined petroleum products. This amounted to 34.1% of all seaborne trade for the year. Combining the amount carried with the distance it was carried, oil tankers moved 11,705 billion metric-ton-miles of oil in 2005. By comparison, in 1970 1.44 billion metric tons of oil were shipped by tanker. This amounted to 34.1% of all seaborne trade for that year. In terms of amount carried and distance carried, oil tankers moved 6,487 billion metric-ton-miles of oil in 1970. The United Nations also keeps statistics about oil tanker productivity, stated in terms of metric tons carried per metric ton of deadweight as well as metric-ton-miles of carriage per metric ton of deadweight. In 2005, for each 1  DWT of oil tankers, 6.7 metric tons of cargo

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3900-434: The rest were smaller designs. By comparison, 8.0 million  DWT , 8.7 million  DWT , and 20.8 million  DWT worth of oil tanker capacity was built in 1980, 1990, and 2000 respectively. Ships are generally removed from the fleet through a process known as scrapping . Ship-owners and buyers negotiate scrap prices based on factors such as the ship's empty weight (called light ton displacement or LDT) and prices in

3975-490: The river anciently flowed through what is now Team Valley , its outlet into the tidal river being by a waterfall at Bill Point (in the area of Bill Quay ). His theory was not far from the truth, as there is evidence that prior to the last ice age , the River Wear once followed the current route of the lower River Team and merged with the Tyne at Dunston . Ice diverted the course of the Wear to its current location, flowing east

4050-488: The scrap metal market. In 1998, almost 700 ships went through the scrapping process at shipbreakers in places such as Gadani , Alang and Chittagong . In 2004 and 2005, 7.8 million  DWT and 5.7 million  DWT respectively of oil tankers were scrapped. Between 2000 and 2005, the capacity of oil tankers scrapped each year has ranged between 5.6 million  DWT and 18.4 million  DWT . In this same timeframe, tankers have accounted for between 56.5% and 90.5% of

4125-579: The second half of the 19th century, with islands (including Kings Meadow , the largest) removed and meanders in the river straightened. Nothing definite is known of the origin of the designation Tyne , nor is the river known by that name until the Saxon period: Tynemouth is recorded in Anglo-Saxon as Tinanmuðe (probably dative case ). The Vedra on the Roman map of Britain may be the Tyne, or may be

4200-673: The second half of the 20th century. The largest coal staithes (a structure for loading coal onto ships) were located at Dunston in Gateshead, Hebburn and Tyne Dock, South Shields. The wooden staithes at Dunston, built in 1890, have been preserved, although they were partially destroyed by fire in 2006 and then a further fire in May 2020 means that the Staithes is becoming more vulnerable to vandalism and would need extensive financing to preserve it and make it secure. In 2016, Tyne Dock, South Shields

4275-421: The ship. These holds were further subdivided into port and starboard sections by a longitudinal bulkhead. Earlier designs suffered from stability problems caused by the free surface effect , where oil sloshing from side to side could cause a ship to capsize. But this approach of dividing the ship's storage space into smaller tanks virtually eliminated free-surface problems. This approach, almost universal today,

4350-602: The sources of the Tees and the Wear . Initially it flows north through the North Pennines Area of Outstanding Natural Beauty (AONB), enters Northumberland downstream of Alston and turns to the east as it approaches the town of Haltwhistle . Paralleling Hadrian's Wall which lies to the north, the river continues past Redburn and Haydon Bridge to join the North Tyne at Warden. This low level east-west corridor through

4425-572: The supply and demand of oil as well as the supply and demand of oil tankers. Some particular variables include winter temperatures, excess tanker tonnage, supply fluctuations in the Persian Gulf , and interruptions in refinery services. In 2006, time-charters tended towards long term. Of the time charters executed in that year, 58% were for a period of 24 or more months, 14% were for periods of 12 to 24 months, 4% were from 6 to 12 months, and 24% were for periods of less than 6 months. From 2003,

4500-713: The system is still used today. Besides that, there is the flexible market scale, which takes typical routes and lots of 500,000 barrels (79,000 m ). Merchant oil tankers carry a wide range of hydrocarbon liquids ranging from crude oil to refined petroleum products. Crude carriers are among the largest, ranging from 55,000 DWT Panamax -sized vessels to ultra-large crude carriers (ULCCs) of over 440,000 DWT. Smaller tankers, ranging from well under 10,000 DWT to 80,000 DWT Panamax vessels, generally carry refined petroleum products, and are known as product tankers. The smallest tankers, with capacities under 10,000 DWT generally work near-coastal and inland waterways. Although they were in

4575-584: The tax authorities wanted evidence that the internal billing records were correct. Before the New York Mercantile Exchange started trading crude oil futures in 1983, it was difficult to determine the exact price of oil, which could change with every contract. Shell and BP , the first companies to use the system, abandoned the AFRA system in 1983, later followed by the US oil companies. However,

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4650-551: The two Tyne piers were built; Northumbrian, Tyne and Albert Docks were built, as well as the staithes at Whitehill and Dunston. This infrastructure enabled millions of tonnes of cargo to be handled by the Port by 1910. The tidal river has been managed by the Port of Tyne Authority since 1968. The River Tyne has a charity dedicated to protecting and enhancing its waters and surrounding areas. The Tyne Rivers Trust, established in 2004,

4725-466: The vessel hull instead of being loaded in barrels or drums. It was also the first tanker with a horizontal bulkhead; its features included cargo valves operable from the deck, cargo main piping, a vapor line, cofferdams for added safety, and the ability to fill a ballast tank with seawater when empty of cargo. The ship was built in Britain, and was purchased by Wilhelm Anton Riedemann, an agent for

4800-424: The voyage charter, the time charter, the bareboat charter , and contract of affreightment . In a voyage charter the charterer rents the vessel from the loading port to the discharge port. In a time charter the vessel is hired for a set period of time, to perform voyages as the charterer directs. In a bareboat charter the charterer acts as the ship's operator and manager, taking on responsibilities such as providing

4875-401: The world's fleet in terms of deadweight tonnage. The world's total oil tankers deadweight tonnage has increased from 326.1 million  DWT in 1970 to 960.0 million  DWT in 2005. The combined deadweight tonnage of oil tankers and bulk carriers, represents 72.9% of the world's fleet. In 2005, 2.42 billion metric tons of oil were shipped by tanker. 76.7% of this was crude oil, and

4950-610: The world's total scrapped ship tonnage. In this period the average age of scrapped oil tankers has ranged from 26.9 to 31.5 years. In 2005, the price for new oil tankers in the 32,000–45,000  DWT , 80,000–105,000  DWT , and 250,000–280,000  DWT ranges were $ 43 million, $ 58 million, and $ 120 million respectively. In 1985 these vessels would have cost $ 18 million, $ 22 million, and $ 47 million respectively. Oil tankers are often sold second hand. In 2005, 27.3 million  DWT worth of oil tankers were sold used. Some representative prices for that year include $ 42.5 million for

5025-490: The world. In Worldscale negotiations, operators and charterers will determine a price based on a percentage of the Worldscale rate. The baseline rate is expressed as WS 100. If a given charter party settled on 85% of the Worldscale rate, it would be expressed as WS 85. Similarly, a charter party set at 125% of the Worldscale rate would be expressed as WS 125. The market is affected by a wide variety of variables such as

5100-731: Was carried. Similarly, each 1  DWT of oil tankers was responsible for 32,400 metric-ton miles of carriage. The main loading ports in 2005 were located in Western Asia, Western Africa, North Africa, and the Caribbean, with 196.3, 196.3, 130.2 and 246.6 million metric tons of cargo loaded in these regions. The main discharge ports were located in North America, Europe, and Japan with 537.7, 438.4, and 215.0 million metric tons of cargo discharged in these regions. International law requires that every merchant ship be registered in

5175-550: Was curtailed by US and Belgian authorities citing safety concerns. By 1871, the Pennsylvania oil fields were making limited use of oil tank barges and cylindrical railroad tank-cars similar to those in use today. The modern oil tanker was developed in the period from 1877 to 1885. In 1876, Ludvig and Robert Nobel , brothers of Alfred Nobel , founded Branobel (short for Brothers Nobel) in Baku , Azerbaijan . It was, during

5250-441: Was first used by Swan in the Nobel tankers Blesk , Lumen , and Lux . Others point to Glückauf , another design of Colonel Swan, as being the first modern oil tanker. It adopted the best practices from previous oil tanker designs to create the prototype for all subsequent vessels of the type. It was the first dedicated steam-driven ocean-going tanker in the world and was the first ship in which oil could be pumped directly into

5325-555: Was only barely populated as a fishing village; after that year, the Creole Petroleum Corporation built the refinery and this changed the way of life of the villagers. At 01:11 on August 25, 2012, an explosion tore through the gas storage facility in Amuay with 39 confirmed dead and 80 wounded. Venezuelan President Hugo Chavez ordered an urgent investigation and announced three days of national mourning. Amuay

5400-496: Was renamed Happy Giant in 1989, Jahre Viking in 1991, and Knock Nevis in 2004 (when she was converted into a permanently moored storage tanker). In 2009 she was sold for the last time, renamed Mont , and scrapped . As of 2011, the world's two largest working supertankers are the TI-class supertankers TI Europe and TI Oceania . These ships were built in 2002 and 2003 as Hellespont Alhambra and Hellespont Tara for

5475-497: Was still involved with coal, importing 2 million tonnes of shipments a year. The lower reaches of the Tyne were, in the late 19th and early 20th centuries, one of the world's most important centres of shipbuilding , and there are still shipyards in South Shields and Hebburn to the south of the river. To support the shipbuilding and export industries of Tyneside, the lower reaches of the river were extensively remodelled during

5550-674: Was the world's largest flag state for oil tankers, with 528 of the vessels in its registry. Six other flag states had more than 200 registered oil tankers: Liberia (464), Singapore (355), China (252), Russia (250), the Marshall Islands (234) and the Bahamas (209). The Panamanian, Liberian, Marshallese and Bahamian flags are open registries and considered by the International Transport Workers' Federation to be flags of convenience . By comparison,

5625-506: Was the worst period for pollution of the river. The Tyne Improvement Commission laid the foundations for what has become the modern day Port of Tyne. Under the management of the Tyne Improvement Commissioners, over a period of the first 70 years the Tyne was deepened from 1.83 to 9.14 m (6 feet 0 inches to 30 feet 0 inches) and had 150 million tonnes dredged from it. Inside these 70 years,

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