Tanker carrying 30kt of oil condensates on fire off Dubai

10 February 2009 11:52  [Source: ICIS news]

LONDON (ICIS news)--An oil tanker carrying 30,000 tonnes of oil condensates has caught fire off the coast of Dubai, a source at the Dubai Ports Authority said on Tuesday.

The Kashmir, which was understood to have a capacity of around 45,000 tonnes, was arriving into the United Arab Emirates from Iran, sources said.

Unconfirmed reports said the fire broke out after the Kashmir was involved in a collision with a container ship near Jebel Ali Port.

One broker that worked eastbound cargoes from mainland Europe believed that the fire would not cause any major disruption for traders working that route.

“It should not be a problem as there are miles of space off Dubai,” the source said.

Another broker was more cautious in its approach to the potential impact. “I would not like to comment on how it will affect activity as it is not clear how severe the damage is, or whether it is close to the port or not.”

Other sources felt that it would predominantly affect the local region around Dubai and owners that had open positions there.

“It would only affect the local region while any pollution prevention measures would be in place, I would imagine,” one London broker said.

“One vessel would not have any impact on the market when there is such ample space available,” one Baltic-based broker commented.

The extent of the damage to the ship and its cargo was yet to be determined. 

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By: Dan Horlock
44 20 8652 3214

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