The Baltic Briefing has issued the tanker report for the 15th week of this year. The report dated 12th April 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
- The market in the Middle East Gulf bottomed out and after WS 36 was agreed for 270,000mt to Singapore.
- Unipec fixed to China at WS 39, up 1.5 points from last week. SPC took two Maran ships to Singapore and China, both at WS 39.25.
- Going west, rates for 280,000mt to the US Gulf have assessed 0.75 points higher at around WS 19.75 Cape to Cape.
- In West Africa, rates for 260,000mt initially held at around WS 41 before Maran tonnage fixed at WS 43 with CNOOC.
- From Mexico, HOB paid $4.775 million to Daesan and US Gulf to Korea went at $4.5 million.
- There was a healthy inquiry in West Africa, which saw rates for 130,000mt to Europe firm around 20 points. Exxon paid WS 77.5 to Europe and Cepsa agreed WS 75 for Spain.
- Black Sea rates similarly firmed with the market now at WS 95 for 135,000mt cargo, in contrast to WS 65/67 region a week ago.
- In the Mediterranean, rates for 80,000mt from Ceyhan eased around 7.5 points, with UML fixing at WS 77.5.
- In Primorsk, the market for 100,000mt has been hovering in the low to mid WS 60s, with the latter paid on trips requiring short options.
- The 80,000mt cross-North Sea came under downward pressure, with Vitol able to fix WC Norway load at WS 80. The 70,000mt Caribs up-coast market was steady in the WS 75/77.5 region.
- Rates for both 75,000mt and 55,000mt from the Middle East Gulf to Japan weakened modestly to WS 95 region.
- Increased inquiry saw the market for 37,000mt Continent to USAC firm from WS 145 at the end of last week to low WS 150s.
- The 38,000mt trade from the US Gulf to UK-continent fell 10 points too low WS 80s.
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