The Baltic Briefing has issued the tanker report for the 6th week of this year. The report dated 12th February 2021 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
VLCC sector seems quiet ahead of the Chinese Lunar New Year Holiday.
US Gulf via the Cape/Cape
In the Middle East region, there was no shift in the assessment of 280,000mt to US Gulf via the Cape/Cape routing at WS18/18.5 level.
China market
The 270,000mt to China market is now rated at WS31.5 – a modest rise of a fraction of a point.
The Atlantic
In the Atlantic arena, rates for west Africa to China slipped a point to WS32.5, while from the US Gulf to China rates eased about $12,000 to $4.225m lump sum.
Suezmax
- Black Sea/Med rates have settled at last week’s level between WS67.5 & 70 for 135,000mt.
- The 130,000mt Nigeria/UK Continent market remains in the doldrums in the low WS50s.
- Basrah/Med fell back three points to about WS18-19 for 135,000mt.
Aframax
Cross Med market
The cross Med market of Ceyhan/Lavera slipped a point to WS75. However, at the time of writing, there is a slightly firmer feel.
Cross-North Sea rates
In northern Europe rates for cross-North Sea rose about a point to WS78/79 level.
Baltic/UK-Continent
Baltic/UK-Continent moved up a point over last week to around WS57.5 level although again there is a firmer feel here with WS70 being reported on subjects to a major trader for 100,000mt.
The Atlantic
On the other side of the Atlantic, Owners have managed to claw back some of the recent point losses with 70,000mt Caribbean/US Gulf and 70,000mt US Gulf/UK Continent both rising six points to WS78.75 and WS77.5 respectively.
Clean
It has been a rather lacklustre and flat week for most routes.
Middle East Gulf/Japan LR2 rates
Middle East Gulf/Japan LR2 rates generally hovered in the low to mid WS60s basis 75,000mt, whilst the LR1s had a slow week with rates easing 2.5 points to WS80 level.
MR rates
On the MR’s a conference rate of WS120 has seemingly been established for 35,000mt AG/East Africa.
Continent/USAC’s easing rates
For Continent/USAC, it has been another disappointing week with rates easing around three points to WS115 and five points lower was achieved on tonnage with last cargo palmoil, basis 37,000mt.
However, there is talk now of WS117.5 possibly agreed for 17 February loading.
US Gulf to UK-Continent backhaul trade
The backhaul trade of 38,000mt from US Gulf to UK-Continent has remained stagnant in the WS75 region and it is a similar story for cargoes to Brazil with rates largely unchanged at WS112.5.
Cross-Mediterranean trade gains
One area of optimism for the Owners is in the 30,000mt cross-Mediterranean trade with rates gaining 20 points to WS135/136 after a clear-out of tonnage.
There is still outstanding Black Sea enquiry with only limited tonnage availability in eastern Mediterranean.
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Source: Baltic Exchange
