Weekly Tanker Report – Week 35, 2019

By
Mfame Team
-
1871

The Baltic Briefing has issued the tanker report for the 35th week of this year. The report dated 30th August 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

  • Middle East Gulf rates to Eastern destinations lost the five to six points gained a week ago, leaving 270,000mt to China at WS 60 level, whilst 280,000mt to US Gulf, basis Cape to Cape, eased two points to WS 28. 
  • For 260,000mt West Africa to China a similar five to six point loss was seen as rates fell to WS 57.5. 270,000mt US Gulf to China fell about $150k to $6.35m. 
  • Elsewhere, 270,000mt Hound Point to South Korea is reported to have been fixed by an oil major at $5.55m and a Chinese charterer is rumoured to have covered Skaw to Ningbo at $5.45m. 270,000mt Ceyhan to Taiwan is rumoured to have covered at $5.75m.

Suezmax

  • Rates for 130,000mt West Africa to UK-Continent rose further to WS 67.5/70 level earlier in the week. 
  • However, these fell back to WS 65 at week-end, although this is still two to three points up on the previous week. 
  • A 135,000mt Black Sea to the Mediterranean remained steady at WS 70 to 72.5 level and 140,000mt Basrah to the Mediterranean remains at WS 32.5 to 35 region.

Aframax

  • A 80,000mt Ceyhan to the Mediterranean improved again, up ten points to WS 85. 
  • Rates remained flat for North Atlantic activity, with 80,000mt cross-North Sea at WS 85. 
  • The 100,000mt Baltic to the UK-Continent was at WS 55 to 57.5 level. 
  • The 70,000mt Caribbean to US Gulf trade strengthened 15 points to WS 90 level, while 70,000mt US Gulf to the Mediterranean similarly improved to WS 85.

Clean

  • Middle East Gulf to Japan rates were mixed this week. The 75,000mt size fell a couple of points to WS 110 level while, in contrast, the 55,000mt sector improved five points to WS 125 level. 
  • Again, the big gainer was the 35,000mt Arabian Gulf to East Africa run, where rates increased a further 15 to 20 points to close at WS 210. 
  • In Europe, the 37,000mt Continent to US Atlantic Coast market maintained recent improvements at WS 95. 
  • The 38,000mt US Gulf to UK-Continent backhaul trade rose five points to WS 95.

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Source: The Baltic Briefing

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