The Baltic Briefing has released a report about the tanker market of the 8th week of shipping activities of this year. The report dated 22nd February highlights the plight of the tanker market at the on-sight of the 8th week.
- The firm sentiment held in the Middle East Gulf with 270,000mt fixed to China at Worldscale (WS) 57.5 up eight points, with Singapore discharge peaking at WS 60.
- Going West, rates for 280,000mt to the US Gulf were assessed almost 5.75 points higher at WS 29 Cape/Cape.
- In West Africa, Day Harvest agreed WS 57.5 for 260,000mt to China, up eight points from the start of the week.
- A South Korean charterer fixed East Coast Mexico and US Gulf to South Korea at $6.95 million.
- Hound Point to South Korea went at $ 5.1 million, while Shell fixed fuel from Rotterdam to Singapore at $4.45 million.
- West Africa rates for 130,000mt eased from WS 70 to WS 67.5/68.5.
- Black Sea/Mediterranean rates for 135,000mt were steady at close at WS 85.
- Another disappointing week in the Mediterranean saw rates for 80,000mt from Ceyhan hovering in the mid WS 80s, before nudging up modestly.
- Black Sea was fixed five points lower at WS 102.5, having dipped to WS 95.
- In the Baltic, available ice tonnage tightened and after replacement business was fixed at WS 102.5, the market went to WS 105. Rates for 80,000mt cross-UK Continent also firmed, now hovering between WS 110/115 in contrast to WS 100 a week ago.
- The 70,000mt Caribs up-coast market eased 10 points to mid-WS 140s.
- Rates for 75,000mt Middle East Gulf/Japan dropped 17.5 points to WS 110 with the 55,000mt market losing 2.5 points to WS 110.
- The market for 37,000mt Continent/USAC was steady at WS 135, while the 38,000mt from US Gulf to UK Continent trade held at WS 120.
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Source: Baltic Briefing