The Baltic Briefing has issued the tanker report for the 20th week of this year. The report dated 21st May 2021 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
280,000mt to US Gulf market
In the Middle East the market for 280,000mt to US Gulf (routing via the Cape/Cape) is assessed slightly firmer at WS19-19.5 level, up almost a point from last week.
270,000mt to China rates
Rates for 270,000mt to China are two points firmer at WS34.5 (showing a round-trip TCE of $1700/day) and overnight reports show a couple of ships on subjects to Malaysian and Chinese charterers at WS35 and WS36 respectively.
Rates for 260,000mt West Africa to China
In the Atlantic, rates for 260,000mt West Africa to China firmed by less than a point to just below WS36 (a round trip TCE of $4.4k/day).
270,000mt from US Gulf to China rates
The 270,000mt from US Gulf to China saw rates recover about $40k to just over the $4.33m mark (about $7k/day TCE round-trip).
Suezmax
135,000mt Black Sea/Med rates
In the 135,000mt Black Sea/Med market rates remain pegged at WS58 (a round-trip TCE of about minus $4k/day).
130,000mt Nigeria/UK Continent rates
The 130,000mt Nigeria/UK Continent market rates have eased another two points to WS49 level (a round trip TCE of $400/day).
140,000mt Basrah/Med market
The market for 140,000mt Basrah/Med remains flat at WS17-17.5 region.
Aframax
Mediterranean market
In the Mediterranean, the market has improved slightly with rates for 80,000mt Ceyhan/Lavera gaining two points to WS87 (a TCE of about $3k/day basis a round voyage).
Northern Europe rates
In Northern Europe rates have slipped, with the market for 80,000mt Cross-North Sea easing four points to WS91 level (about minus $4k/day TCE round trip).
100,000mt Baltic/UK Continent rates
The rates for 100,000mt Baltic/UK Continent are down six points to WS67.5 region (a round trip TCE of about $1.8k/day).
Atlantic market
Across the Atlantic the market’s slow descent continues with rates for 70,000mt Caribbean/US Gulf slipping three points to the WS98.5 mark (a TCE of about $5.2k/day round trip).
70,000mt US Gulf/UK Continent rates
The 70,000mt US Gulf/UK Continent rates remain flat at WS77.5 (showing a round trip TCE of $2.2k/day, although basis one-way economics the TCE is considerably better).
Clean
The Colonial Pipeline is now back in action after last week’s cyber attack and consequently rates from US Gulf have plummeted.
38,000mts from US Gulf to UKC
The market for 38,000mts from US Gulf to UKC now sits at WS77.5/80 region, representing a drop over the week of 25 points.
It’s a similar story for cargoes to Brazil where rates are down around 32.5 points at WS112.5 level.
MR market from Continent/USAC
By contrast the MR market from Continent/USAC has been relatively steady with rates easing around 2.25 points to WS135 level.
37,000mts trade from Continent to West Africa
The 37,000mts trade from Continent to West Africa has largely followed suit, down around 3 points in the mid WS140s.
LR2 rates
In the Middle East Gulf, LR2 owners have enjoyed a better week with rates for 75,000mts to Japan gaining 7.5 points to WS91.25 .
LR1 rates
However, the LR1s have come under pressure here and have eased from low WS90s to very high WS80s, basis 55,000mts cargo.
MR 35,000mts in to East Africa
The MRs here have also found it hard going and the market for 35,000mts in to East Africa has slipped around seven points to WS155 region.
Trade in the Mediterranean
For owners plying the 30,000mts clean trade in the Mediterranean, it has been a volatile week with rates initially gaining around 12 points to WS180 for West Med load, and East Med load had been as high as WS185 with Black Sea paying 10 points more.
But things have slowed down and in the West Med Petroineos are now said to have paid WS165 for Lavera load and with tonnage willing to ballast down from the Continent, charterers have had plenty of choice here.
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Source: Baltic Exchange
