Weekly Tanker Report – Week 11, 2019

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The Baltic Briefing has issued the tanker report for the 11th week of this year. The report dated 15th March 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

  • Slower week saw rates in all areas generally come under downward pressure.
  • Early last week 270,000mt to China fixed at WS 66 but finished the week in the very low WS 60s.
  • Going west, rates for 280,000mt to the US Gulf were assessed just below WS 30 Cape/Cape, compared to WS 32.5 last week.
  • In West Africa, rates for 260,000mt fell 9.5 points to WS 56.5. East Coast Mexico to South Korea was fixed at $6.7 million, while the US Gulf to Taiwan went at $6.5 million.
  • Trafigura fixed Hound Point to South Korea at $5.75 million.

Suezmax

  • West Africa rates for 130,000mt to UK-continent fell 7.5 points to WS 55.
  • Black Sea/Mediterranean rates for 135,000mt eased five points to WS 75 region.

Aframax

  • In the Mediterranean, rates eased around 12.5 points to WS 90 for 80,000mt from Ceyhan, with the Black Sea following suit, falling to WS 102.5.
  • In the Baltic, rates rose from low WS 90s to WS 110.
  • Similarly, the 80,000mt cross North Sea market gained 7.5 points, with the market now at WS 115.
  • Sullom Voe to Tranmere went at WS 125. The 70,000mt Caribs up-coast market firmed five points to WS 100.

Clean

  • Rates for 75,000mt Middle East Gulf/Japan held at WS 97.5, with the 55,000mt trade regaining 2.5 points to WS 110 level.
  • The 37,000mt Continent/USAC market firmed 20 points to WS 165, while the 38,000mt trade from the US Gulf to UK-continent was steady at WS 75.

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Source: thebalticbriefing

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