The Baltic Briefing has issued the tanker report for the 14th week of this year. The report dated 09th April 2021 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
Rates have slipped in all sectors.
280,000mt Middle East to USG trip
In the Middle East the market for 280,000mt Middle East to US Gulf trip (routing via the Cape/Cape) is assessed a point lower at WS18.
270,000mt to China
The rates for 270,000mt to China have eased 1.5 points to about WS31.5 which shows a round-trip TCE of about $500 below zero and there are reports overnight of NPI taking a Frontline vessel at WS31 to Yingkou in North China.
Atlantic
In the Atlantic, rates for 260,000mt West Africa to China dropped seven points to WS32.5 – a round-trip TCE of $1,600/day – and here overnight reports have Unipec taking a Frontline vessel at WS32.
270,000mt from US Gulf to China
Meanwhile, 270,000mt from US Gulf to China saw rates fall over $500k to $4.25m (about $7k/day TCE round-trip).
Suezmax
Black Sea/Med market rates
In the 135,000mt Black Sea/Med market rates have fallen 7.5 points to the WS70 level (~$5,500/day TCE).
130,000mt Nigeria/UK Continent market
In the 130,000mt Nigeria/UK Continent market, rates have dipped by 1.5 points to the low WS60s (~$7.7k/day TCE).
140,000mt Basrah/Med market
The assessment of the market for 140,000mt Basrah/Med remained flat at WS20.5 with fixtures reported this week at WS19.5 and WS22.5.
Aframax
Mediterranean market
In the Mediterranean, the market has eased significantly with rates for 80,000mt Ceyhan/Lavera diving 22.5 points to mid WS90s (a TCE of about $7.4k/day basis a round voyage).
80,000mt Cross-North Sea
In Northern Europe, the market for 80,000mt Cross-North Sea fell back eight points to WS100 level ($5.6k/day TCE).
100,000mt Baltic/UK Continent
The rates for 100,000mt Baltic/UK Continent fell 8.5 points to the low WS80s ($11.2k/day TCE).
70,000mt Caribbean/US Gulf
On the other side of the Atlantic rates for 70,000mt Caribbean/US Gulf have fallen a further five points to WS77 region (a TCE of about minus $600/day).
70,000mt US Gulf/UK Continent
For 70,000mt US Gulf/UK Continent rates have remained steady at the WS75 mark.
Clean
75,000mt Middle East Gulf/Japan trade
Two consecutive short weeks saw momentum shift in charterers’ favour and in the 75,000mt Middle East Gulf/Japan trade, rates eased by around 4.5 points to WS126.25 region and it was a similar story in the LR1 market with rates softening 3 points to close to WS132.5.
35,000mt AG/East Africa trade
The 35,000mt AG/East Africa trade came under downward pressure and now sits at WS162.5 region having started the week in the high WS170s.
37,000 Cont/USAC trade
For owners plying the 37,000 Cont/USAC trade it has been a disappointing week with the market sliding from WS140 down to WS125 before a modest recovery to WS130.
MR market into West Africa
The MR market into West Africa followed a similar pattern with rates down 10 points at WS140.
38,000mt backhaul trade from USG to UKContinent
In the 38,000mt backhaul trade from US Gulf to UKContinent it was an uneventful week with the market losing 3 points to WS81.5 level while the US Gulf /Brazil trade was flat at WS126.25.
30,000mt cross-Mediterranean trade
The market in the 30,000mt cross-Mediterranean trade came under renewed downward pressure and now sits at WS140.
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Source: Baltic Exchange
