The Baltic Briefing has issued the tanker report for the 50th week of this year. The report dated 11th December 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
Rates in this sector marginally improved then lost a little ground late in the week. In the Middle East 280,000mt to US Gulf via the Cape/Cape routing levelled at WS17.5, while 270,000mt to China rose a couple of points early on to nearly WS35 then eased to WS34 level.
In the Atlantic, rates eased overall as demonstrated by 260,000mt West Africa to China. This carried forward the recent momentum to WS37 at the beginning of the week, but latterly dipping to around WS35 whilst 270,000mt US Gulf to China climbed to about $4.76m on Monday but are now assessed at $4.72m level.
Suezmax
Rates for 135,000mt Black Sea/Med firmed five points to WS55, while a similar increase was seen in the 130,000mt Nigeria/UK Continent market to WS42 level.
In the Middle East market, 140,000mt Basrah/Med voyages are now assessed three points lower at WS15, likely guided by a recent reported fixture of the Neptune Moon to Repsol at this level.
Aframax
Rates for 80,000mt Ceyhan/Lavera remained static at around the WS57.5-60 mark. And, in Northern Europe, voyages of 80,000mt cross-North Sea are being rated 2.5 points lower than a week ago at WS72. Meanwhile, 100,000mt Baltic/UKContinent assessments were flat at WS45 level.
Across the Atlantic rates continued their downward trajectory with 70,000mt Carib to US Gulf now into the low WS50s – about 23 points lower week-on-week – and 70,000mt US Gulf to UK Continent falling a further 16 points to low WS40s.
Clean
The Middle East Gulf/Japan trade saw a reversal of fortune for the owners in the latter part of the week, with rates for 75,000mt climbing from mid WS60s to just over WS80.
However, the LR1s fared better with rates here pushing up about 27 points to WS110. The MR market remained flat with rates for 35,000mt AG/East Africa holding around mid WS170s.
In the Atlantic trade, the 37,000mt UKContinent/USAC route gained six points to WS82.5-85 region. The backhaul trip of 38,000ms from US Gulf to UKContinent, meanwhile, shed another four points to low WS40s.
- The 38,000mt US Gulf to Brazil run hovered around last week’s level of WS65.
- In the 30,000mt cross-Mediterranean trade rates firmed from mid WS80s to low WS90s.
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Source: Baltic Exchange
