The Baltic Briefing has issued the tanker report for the 29th week of this year. The report dated 17th July 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
Rates in this sector fell back slightly.
Middle East Gulf to USG
280,000mt Middle East Gulf to USG via the Cape/Cape routing assessed one to two points lower at WS24.
270,000mt to China
270,000mt to China now sits at WS42.5 level, down four points.
West Africa to China
260,000mt West Africa to China is at WS42.5.
US Gulf to China voyages
ENI are today reported to have fixed on subjects at WS43.75. Voyages of 270,000mt US Gulf to China are now rated at $5.95m region, $700k lower than a week ago.
Suezmax
Black Sea/Med rates
Rates for 135,000mt Black Sea/Med have dipped to low WS50s, losing the 2.5-point gain from last week.
West Africa/UKCont market
The 130,000mt West Africa/UKCont market is also weaker and now sits at WS45, down six points.
Middle East Gulf to Med trip rates
For the 140,000mt Middle East Gulf to Med trip, rates have modestly improved by a single point to WS22.
Aframax
Mediterranean market rates
In the Mediterranean, market rates have flattened at WS65-67.5 level for 80,000mt Ceyhan/Med.
Northern European voyage rates
Improvements were seen in Northern European voyages where rates for 80,000mt Hound Point/UKCont saw an uptick of 21 points to WS92.5-95 region.
Baltic/UKCont rates
Rates for 100,000mt Baltic/UKCont improved by 11 or so points to WS52.5.
Atlantic market
Across the Atlantic, the market has remained flat at WS 68.75 for 70,000mt Carib/USGulf and WS67.5 for 70,000mt USGulf/UKCont.
Clean
In the Middle East Gulf, rates for 75,000mt to Japan have been under relentless pressure.
Pantos did fix at WS63 earlier in the week, but subsequently levels have slipped further with the market now assessed in the mid to high WS50s.
55,000mt trade
55,000mt trade market lost eight points to settle at WS50.
UKC to USAC trade
- The 37,000mt UKC to USAC trade started the week at WS70,
- a flurry of activity with a tighter list saw an improvement to low WS80s before the brief recovery was snuffed out and
- rates settled back to high WS70s.
Backhaul business from the USG
The one bright area for owners was again in the backhaul business from the US Gulf where the market gained almost 35 points to WS125 level.
Clean cross-Med trade
It was a lacklustre week in the 30,000mt clean cross-Med trade with rates stuck in the doldrums at WS80.
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Source: BalticBriefing
