Weekly Tanker report – Week 29, 2019

By
Mfame Team
-
1582

The Baltic Briefing has issued the tanker report for the 29th week of this year. The report dated 19th July 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

  • Rates for 270,000mt Middle East Gulf to China slipped to WS 43.5, down two points.
  • However, with a $50/mt fall in bunker prices over the week, earnings have remained flat.
  • The assessment for 280,000mt Middle East Gulf to US Gulf basis Cape to Cape remains at WS 19 level.
  • While 260,000mt West Africa to China and 270,000mt US Gulf to China both maintained last week’s levels at WS 46 and $5m respectively.

Suezmax

  • Rates for 130,000mt West Africa to the UK-Continent saw a slight improvement to WS 60 level.
  • While 135,000mt Black Sea to the Mediterranean slipped a couple of points to low WS 70s. The market for 140,000mt Basrah to the Mediterranean has hovered around WS 35 level.

Aframax

  • The Mediterranean sector proved to be weaker this week, with rates for 80,000mt Ceyhan to the Mediterranean now at WS 85, down from WS 92.5 a week ago.
  • Rates remained steady in North-West Europe, with 80,000mt Cross-North Sea at WS 87.5/90 and 100,000mt Baltic to UK-Continent at WS 62.5/65 region.
  • Across the Atlantic, rates firmed a dozen or so points for the 70,000mt Caribbean to US Gulf to WS 80.
  • 70,000mt US Gulf to the Mediterranean saw a rise of around five points to WS 70 level.
  • In the Middle East, rates fell another couple of points to end the week at WS 107.5 for 80,000mt Arabian Gulf to Singapore.

Clean

  • The market for the 75,000mt Middle East to Japan remained flat at WS 80. 55,000mt Arabian Gulf to Japan ended the week at WS 95 level, a slip of about 2.5 points.
  • The 35,000mt Middle East Gulf to East Africa trade fell 5-7.5 points to low WS 120s.
  • In Europe, rates for 37,000mt Continent to the US Atlantic Coast continued the recent downward spiral to high WS 90s, representing a loss of another 20 points and remains under pressure.
  • The backhaul 38,000mt US Gulf to UK-Continent ended the week at mid WS 60s, down 7.5 points.

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Source: BalticBriefing