Weekly Tanker Report – Week 23, 2019

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The Baltic Briefing has issued the tanker report for the 23rd week of this year. The report dated 7th June 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

  • Rates have been shaved just a point or two over the course of the week, with 270,000mt from the Middle East Gulf to China now at WS 38.
  • US Gulf discharge was being assessed, with 280,000mt at WS 17-18 level basis Cape to Cape and 260,000mt West Africa to China at WS 39.5.
  • An oil-major reportedly fixed 280,000mt from Hound Point to South Korea at $4.35m. Rates for 280,000mt from the US Gulf to China is drifting sideways at the $5m level.

Suezmax

  • West Africa Suezmax rates gained this week, up 15 points to WS 70 region, basis 130,000mt, for discharge in the UK-Continent range.
  • Petrogal fixed Angola to Portugal at WS 72, while Philadelphia discharge went at WS 68.75.
  • Rates for the Black Sea to the Mediterranean voyages gained a couple of points to WS 80 level, basis 135,000mt.
  • For Basrah to the Mediterranean voyages, the market stayed flat at around WS 27.5 for 140,000mt.

Aframax

  • Excess tonnage availability saw rates for 80,000mt, Ceyhan to the Mediterranean, drop WS 10 points, with BP fixing at WS 105.
  • The market remains under significant pressure, with ENI fixing Sidi Kerir to Italy on Kronviken at WS 85.
  • In the 80,000mt cross North Sea trade, rates were maintained at around WS 100.
  • A similar sentiment was seen in the Baltic, with the market for 100,000mt hovering between WS72.5 and WS 75 for UK-Continent discharge.

Clean

  • Rates for 75,000mt from the Middle East Gulf to Japan were flat at WS 105 to 107.5, alongside the 55,000mt voyages holding at WS 117.5.
  • The biggest movers this week, albeit downwards, were transatlantic MRs.
  • The market for 37,000mt Continent to the US Atlantic Coast fell, before recovering slightly to WS 117.5, 10 points down week-on-week.
  • The reverse trip of 38,000mt from the US Gulf to the Continent was similarly down, this time 7.5 points to WS 70 region and remains under pressure.
  • 30,000mt cross Mediterranean voyages are now at WS 145 level, down 12 points for the week.
  • 30,000mt trips from the Baltic to the UK-Continent firmed 2.5 points to WS 120.

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Source: BalticBriefing

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