The Baltic Briefing has issued the tanker report for the 21st week of this year. The report dated 24th May 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
- Middle East Gulf rates have maintained at WS41.5 to WS 42 region for 270,000mt going to China.
- US Gulf discharge has remained at around WS 18-19 level basis 280,000mt Cape to Cape.
- West Africa to China for 260,000mt is now about W43.5 level, commanding a point or two more than it did a week ago.
- Elsewhere, it was reported that 280,000mt Hound Point to South Korea was on subjects at $4.25m, while 280,000m from the US Gulf to China was at $5.15m.
- Vitol reportedly took DHT tonnage for an Algeria/Ningbo trip at $4.5m.
Suezmax
- West Africa suezmaxes came under pressure again with limited inquiries and a lengthening position list.
- However, rates were relatively unchanged, with 130,000mt at WS 60 for Europe discharge. Black Sea/Mediterranean remained flat at WS77.5 for 135,000mt.
Aframax
- Rates for 80,000mt Ceyhan/West Mediterranean jumped this week, from WS 107.5 to WS 115 today.
- In the North Sea, rates maintained similar, at levels close to last week. 80,000mt was at WS 100 region for the typical North Sea to UK Continent trip.
- Whilst a similar sentiment was seen in the Baltic, with 100,000mt at WS 75 being the market for UK Continent discharge.
Clean
- Rates for 75,000mt from the Middle East Gulf to Japan held at WS107.5/110 level, whilst a similar scenario was seen for 55,000mt, holding at WS 117.5 level.
- The market for 37,000mt from the Continent to USA Caribbean firmed slightly from WS102.5/105 last week to WS107.5/110 levels today.
- The 38,000mt backhaul trips from the US Gulf shed 10 points over the course of the week and are now trading at WS 85 levels.
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Source: thebalticbriefing
