The Baltic Briefing has issued the tanker report for the 18th week of this year. The report dated 3rd May 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
- Another difficult week for owners with an only limited inquiry. The rate for 270,000mt from the Middle East Gulf to China eased from WS 42 to WS 37.
- Going west, Exxon was said to have paid WS 18 Cape to Cape for 280,000mt to the US Gulf.
- West Africa moved in tandem, with WS 42 agreed early in the week before now being evaluated at barely WS 40.
- US Gulf to China was reportedly fixed by Mercuria at $4.5 million, down from $5.2 million.
- Healthy tonnage availability saw rates come under downward pressure.
- The market for 130,000mt from West Africa to Europe dipped to WS 55/57.5 region, before recovering modestly to WS 60.
- Black Sea rates also weakened, with the market now in the high WS 70s for 135,000mt cargo. This is in contrast to WS 80 a week ago.
- In the Mediterranean, a busy week saw rates for 80,000mt from Ceyhan gain five points to WS 80 level.
- In the Baltic, the market for 100,000mt peaked at WS 90, though later WS 82.5 was agreed.
- The 80,000mt cross North Sea trade was steady at WS 97.5. The 70,000mt Caribbean up-coast market is hovering between WS 75 and 77.5 level.
- The market for 75,000mt from the Middle East Gulf to Japan gained 6.5 points to WS 107.5, with 55,000mt going at WS 105, in contrast to WS 90 last week.
- A disappointing week in the 37,000mt Continent/USAC trade saw rates loses more than 30 points to around mid to high WS 130s.
- The 38,000mt trade from the US Gulf to the UK-Continent held in the low WS 70s.
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