Tanker Report – Week 6, 2019

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The Baltic Briefing has released a report about the tanker market of the 6th week of shipping activities of this year. The report dated 8th February highlights the plight of the tanker market at the on-sight of the 6th week.

VLCC

  • In the Middle East Gulf, holidays in the East lead to fewer cargoes.
  • 270,000mt to China fell 5.5 points to WS 42.5, with 2003 built tonnage agreeing WS 35.
  • Going west, Exxon fixed at WS 18.75 Suez/Suez for 280,000mt to the US Gulf.
  • In West Africa, Unipec paid WS 47 for 260,000mt to China, down three points from last week, with potential to soften further.
  • SK fixed US Gulf to South Korea at $5.55 million, off about $1 million.

Suezmax

  • West Africa came under pressure with rates for 130,000mt to UK-Continent easing to high WS 60s.
  • Black Sea/Mediterranean rates for 135,000mt dropped to low WS 90s, with South Korea discharge fixed at $3.65 million.
  • Delays in the Turkish Straits reduced modestly to 30-32 days total north and south-bound.

Aframax

  • With markets elsewhere continuing to ease, owners active in the 80,000mt cross-Mediterranean trade had few choices.
  • The market from Ceyhan now sits at around WS 100, with Black Sea covered at WS 110, in contrast to low WS 120s the previous week.
  • In the Baltic, rates for 100,000mt eased 12.5 points to WS 75, with the 80,000mt cross North Sea market following suit, losing 7.5 points to high WS 90s.

Clean

  • Rates for 75,000mt Middle East Gulf/Japan slipped 7.5 points to WS 120, with 55,000mt losing 2.5 points to WS 120.
  • A busier week saw rates nudge up 10 points to around WS 135 for 37,000mt Continent/USAC.
  • In contrast the 38,000mt back-haul trade from the US Gulf initially lost almost 17.5 points to high WS 70s.

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Source: The Baltic Briefing

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