The Baltic Briefing has issued the tanker report for the 32nd week of this year. The report dated 9th August 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
- Middle East Gulf rates improved significantly on the back of healthy enquiry and typhoons hit the Far East.
- For 280,000mt Middle East Gulf to US Gulf, basis Cape to Cape, the market now sits at around WS 25, up 3.5 points from a week ago.
- A run to Brazil went at WS 35. Owners achieved a rise of over nine points for 270,000mt Middle East Gulf to China to around WS 55.
- 260,000mt West Africa to China gained five points, also to WS 55.
- Hound Point to Korea went at $5.3 million while 270,000mt US Gulf to China gained $850,000 to around $6.25 million.
- Rates for 130,000mt West Africa to the UK-Continent came under downward pressure, easing around five points to very low WS 60s.
- The 135,000mt Black Sea to the Mediterranean trade was drifting down marginally to around WS 70 level.
- There was a flat sentiment for 140,000mt Basrah to the Mediterranean which still hovers around WS 32.5.
- 80,000mt Ceyhan to the Mediterranean shed five points to low/mid WS 70s, depending on the precise voyage.
- The Black Sea to Mediterranean trade was steady at WS 80.
- In the 80,000mt cross-North Sea trade there has been modest improvement with West Coast Norway loading paying WS 82.5, up from a low of WS 80.
- A Sullom Voe load is said to have gone at WS 97.5.
- In the Baltic, rates for 100,000mt to UK-Continent dipped down to WS 50, before recovering to WS 55, with WS 57.5 agreed for a voyage including short options.
- The 70,000mt Caribbean US Gulf trade lost 2.5 points to WS 72.5, while 70,000mt US Gulf to the Mediterranean fixed at WS 65 before a prompt replacement obtained WS 72.5.
- The market for 75,000mt Middle East Gulf to Japan saw a big jump at the start of the week, climbing 30 points to WS 110 and now sits at WS 115 level.
- Likewise, the 55,000mt to Japan trade gained 20 points to sit at close to WS 117.5, which was agreed on replacement tonnage.
- The 35,000mt Middle East Gulf to East Africa market firmed 22.5 points to WS 155, but the sentiment is softer now.
- In Europe, it was a volatile week, with the market rising to WS 115 before easing back to WS 100 and remains under pressure.
- In the backhaul 38,000mt US Gulf to UK-Continent trade, rates gained almost 15 points to WS 95, with a base oil cargo covered at WS 97.5 before easing back to low WS 90s.
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