VLCC
Very little change as rates remained around WS 51/52 level. New Harvest fixed the New Naxos basis 270,000mt AG/China for end of August at WS 51, with talk of Eco Leader fixing WS 53 for AG/Yingkou basis 1 September. Going West there was little cargo quoting, with rates hovering around WS 23 level. Leonidas was fixed by Unipec for 260,000mt West Africa/China from 14 September at WS 52, with some feeling optimistic for next week. There was little change in levels from USG to FE.
Suezmax
With most of the Black Sea cargo going to the East, rates were static around the WS 82 level for Mediterranean destination. KMG fixed CPC/Med for 135,000mt at WS 82.50 for end of August loading. UML fixed Episkopi for 135,000mt CPC/Taiwan at $2.5m basis 5 September. West Africa to Cont was fixed twice at WS 62.50 on Tahoe Spirit by BP and Cherokee by Petroineos, both for early September loading. Most assess this route now around WS 64.
Aframax
Cross-Mediterranean rates jumped up over 16 points to sit at around WS 120 level basis Ceyhan load. Statoil fixed WS 127.50 for a Libya load and a Sidi Kerir cargo went at WS 107.50. Baltic/Cont rates moved up about 10 points to WS 110 level, with a Sullom Voe cargo fixed at WS 120 on Shanghai Dawn for 80,000mt by Total. As tonnage continued to build up in the Caribbean, the rates fell a further seven or eight points to WS 95 level basis upcoast destination.
Panamax
Rates remained static, still hovering around WS 110 level, although there was talk of WS 120 being fixed, which was a replacement for 4 September dates basis 55,000mt.
Clean
Rumours of WS 102.5 fixed for 55,000mt AG/Japan, which is better than last week. For 37,000mt Cont/USAC the level seemed to remain around WS 120, which was fixed yesterday. Backhaul rates firmed up about 10 points to sit around WS 85.
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Source: The Baltic Briefing
