The Baltic Briefing has issued the tanker report for the 22nd week of this year. The report dated 31st May 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
- Reduced enquiry in the Middle East Gulf saw rates for 270,000mt to China eased 2.5 points to WS 39, before a modest recovery to around WS 40.
- Korea discharge was hovering around WS 36/37 region. US Gulf discharge was fixed by Valero at WS 18 Cape to Cape for 280,000mt.
- Day Harvest covered 260,000mt from West Africa to China three points lower at WS 40.5.
- US Gulf to China rates is hovering just above $5.0 million. Unipec fixed Seeb from Skaw to China at $4.0 million.
Suezmax
- West Africa tonnage came under renewed downward pressure, with the market losing 7.5 points to now sit at WS 52.5 for 130,000mt to Europe.
- The Black Sea to Mediterranean rates remained flat at WS 75/77.5 level for 135,000mt, although WS 80 was paid for an early replacement.
Aframax
- Excess tonnage availability saw rates for 80,000mt, Ceyhan to the Mediterranean, drop WS 10 points, with BP fixing at WS 105.
- The market remains under significant pressure, with ENI fixing Sidi Kerir to Italy on Kronviken at WS 85.
- In the 80,000mt cross North Sea trade, rates were maintained at around WS 100.
- A similar sentiment was seen in the Baltic, with the market for 100,000mt hovering between WS72.5 and WS 75 for UK-continent discharge.
Clean
- Rates for 75,000mt Middle East Gulf to Japan held at W107.5.
- A similar scenario was seen for 55,000mt, which was steady at WS 117.5 level.
- Healthy enquiry and a firm sentiment saw the market for 37,000mt Continent to the US Atlantic Coast gain 25 points to WS 135, before easing to low WS 130s.
- The 38,000mt backhaul run from the US Gulf held in the mid WS 80s.
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Source: BalticBriefing
