The Baltic Briefing has issued the tanker report for the 19th week of this year. The report dated 10th May 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
- An uninspiring week for owners saw rates flat at WS 37 for 270,000mt from the Middle East Gulf to China.
- Going west, the market was steady at WS 18 Cape to Cape for 280,000mt to the US Gulf.
- West Africa to China basis 260,000mt dipped two points to WS 38. Loop to China was fixed at $4.5 million.
- Owners’ resistance in West Africa bore dividends as a West Africa east run went at WS 80 basis 130,000mt.
- Cepsa paid WS 65 to Spain, up from WS 60 at the end of last week, although there is a slightly softer sentiment in the market.
- Black Sea rates were hovering between WS 77.5 to 80 region for 135,000mt cargo.
- In the Mediterranean, a busy week saw rates for 80,000mt from Ceyhan gain over 20 points to WS 105 region, with the Black Sea now fixing at WS 115 compared to WS 80 a week ago.
- In the Baltic, the market for 100,000mt has been hovering at WS 90, with WS 95 agreed where short options are required. There is now talk of WS 107.5 being done.
- The 80,000mt cross-North Sea trade firmed from WS 97.5 to WS 115, with WS 125 agreed for Sullom Voe load.
- The 70,000mt Caribs up-coast market held at WS 77.5 level, but with potential to the firm.
- The market for 75,000mt from the Middle East Gulf to Japan held at WS 107.5, with 55,000mt firming 12.5/15 points to close to WS 120 level.
- Another disappointing week in the 37,000mt Continent/USAC trade saw rates loses around 20 points to WS 115.
- A more active week in the 38,000mt trade from the US Gulf to the UK-Continent saw rates gain 25 points to WS 97.5.
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