The Baltic Briefing has issued the tanker report for the 12th week of this year. The report dated 22nd March 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
- It was another slow week, with rates under pressure slipping below WS 60 as 270,000mt fixed to China at WS 59 and Taiwan at WS 57.5 for 265,000mt cargo.
- Going west, rates for 280,000mt to the US Gulf fell 4.75 points, as Valero took BP tonnage at WS 23.5 Cape/Cape.
- In West Africa, rates for 260,000mt were assessed 1.5 points lower at WS 55, with the potential to soften further.
- Occidental fixed US Gulf to Singapore at $5.2 million. Vitol covered Hound Point to South Korea at $5.5 million, down $250,000.
Suezmax
- West Africa rates for 130,000mt to Europe dipped from WS 55 to high WS 40s, with US Gulf discharge fixed at WS 42.5.
- Black Sea/Mediterranean rates for 135,000mt hovered in the high WS 60s, after WS 72.5 was agreed earlier, but for UKC-Med. South Korea was done at $2.75 million.
Aframax
- In the Mediterranean, it was a volatile week. Sidi Kerir/Med fixed at WS 80 for 80,000mt, with Ceyhan at WS 85.
- Subsequently, inquiry improved, seeing rates firm to WS 97.5. Black Sea dipped to high WS 80s, before recovering to WS 102.5.
- In the Baltic, some ice restrictions were lifted, and the market fell more than 30 points to WS 80.
- The 80,000mt cross-North Sea market dropped 20 points to low-mid WS 90s.
- The 70,000mt Caribs up-coast run eased 10 points to WS 90, before recovering to the mid WS 90s.
Clean
- Rates for 75,000mt Middle East Gulf/Japan nudged up 2.5 points to WS 100, with the 55,000mt trade regaining 2.5 points to WS 115.
- Continent/USAC 37,000mt trade gained 2.5 points to WS 167.5, while 38,000mt from the US Gulf to UKC rose more than 20 points to the high WS 90s.
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Source: thebalticbriefing
