VLCC: Tanker Markets In Limbo


In the Middle East, the market for 280,000mt Middle East to US Gulf (routing via the Cape/Cape) is assessed almost a point lower than last week on the back of a weaker market in general. Rates for 270,000mt to China have eased 2.5 points to WS32.5/33 level (showing a round-trip TCE of $800/day) with sentiment being weaker no doubt partly due to the Far Eastern holidays earlier this week.

In the Atlantic, rates for 260,000mt West Africa to China fell back seven points to mid WS30s (a round trip TCE of $1.4k/day) and 270,000mt from US Gulf to China saw rates dropped about $220k to $4.37m (about $5.5k/day TCE round-trip).

Suezmax

In the 135,000mt Black Sea/Med market rates have eased a further 1.5 points to WS60 (a round-trip TCE of -$1.8k/day). In the 130,000mt Nigeria/UK Continent market, rates have steadied at WS55 level (~$2.2k/day TCE round-trip). The market for 140,000mt Basrah/Med fell another point to about the WS18.5 mark.

Aframax

In the Mediterranean, the market has slipped slightly with rates for 80,000mt Ceyhan/Lavera losing 2.5 points to WS87.5 (a TCE of about $2.9k/day basis a round voyage). In Northern Europe, the market for 80,000mt Cross-North Sea remained flat at WS88 (-$3.6k/day TCE) while rates for 100,000mt Baltic/UK Continent fell back 1.5 points to WS65 (about $300/day TCE round-trip).

On the other side of the Atlantic, the market continues its rollercoaster ride with rates for 70,000mt Caribbean/US Gulf rising 13 points to WS107.5 (a TCE of about $7.3k/day). For 70,000mt US Gulf/UK Continent rates gained almost 3 points to WS82.5.

Clean

The market for 75,000mt Middle East Gulf/Japan has remained flat at WS71 level (a round-trip TCE of just over $300/day), while the same voyage on a LR1 has lost 7.5 points to just below WS95 (a TCE of $4.5k/day).

The market for 35,000mt from the Middle East Gulf into East Africa has risen 23 points to low WS170s after a flurry of activity early in the week resulted in a handful of fixtures concluded at this level.

In the 37,000mt Cont/USAC trade, rates have climbed about 17 points to WS127.5 . The backhaul voyage of 38,000mt US Gulf to UK Continent saw a similar firm sentiment and rates have also risen 17 points to WS90 (showing a combined TCE of about $8.6/day). The 38,000mt US Gulf to Brazil market has seen a firmer sentiment still with rates rising 23 points to WS172 (a round trip TCE of about 6.8k/day)

It was yet another disappointing week for owners in the 30,000mt clean cross Med trade with the market continuing to try to find the floor. Rates have dropped another 10 points to WS120 level, representing a round trip TCE of about $2k/day.


Source: The Baltic Briefing

Comments

Be the first to comment on this article

Leave a Reply

Your email address will not be published.

Go to TOP
LIVE OFFLINE
track image
Loading...