Weekly Tanker Report – Week 30, 2020

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The Baltic Briefing has issued the tanker report for the 30th week of this year. The report dated 24th July 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

Middle East Gulf to USG

Rates in this sector remained under pressure with a 280,000mt Middle East Gulf to USG via the Cape/Cape routing assessed one point lower at barely WS23.

China

A 270,000mt to China now sits at WS37 level, down five points.

Korean charterers

Korean charterers with plenty of choice fixed 2002 built tonnage at WS31 basis 274,000mt cargo.

Atlantic

In the Atlantic, 260,000mt west Africa to China moved in tandem with Middle East Gulf with WS39 being paid here.

US Gulf to China

Earlier, Shell covered a Brazil to Far East run at WS41.5. Petrochina are said to have taken ‘Olympic Luck’ for 270,000mt US Gulf to China at $5.7 million, down around $150,000 here.

 Suezmax

Black Sea/Med

A tighter tonnage list saw rates for 135,000mt Black Sea/Med creep up 2.5 points to WS55.

West Africa market

This was aided also by a firmer west Africa market which saw WS47.5 agreed a number of times before Sahara reportedly took ‘Patriotic’ at WS51.25.

Middle East Gulf to Med

For the 140,000mt Middle East Gulf to Med trip, rates have generally been hovering close to WS22 – although Turkish charterers managed to cover at WS19.

Aframax

Black Sea

In the Mediterranean market, rates have been steady at WS70 level for 80,000mt Ceyhan/Med with the Black Sea at similar numbers.

Sidi Kerir to Portugal

An attractive voyage from Sidi Kerir to Portugal obtained a good response from owners and this was fixed at WS50.

Northern Europe

In Northern Europe, rates for 80,000mt Hound Point/UK-Cont saw an initial further uptick. They peaked at just below WS100 before easing back somewhat.

Litasco

Litasco are reported to have fixed Trafigura tonnage from Tees at WS85.

Baltic/UK-Cont

Rates for 100,000mt Baltic/UK-Cont improved by around 10 points to mid WS60s.

However, brokers feel that the market is again coming under renewed downward pressure here and is now assessed at close to WS60.

Caribbs/USGulf

In the 70,000mt Caribbs/USGulf trade, rates were steady in the mid WS70s. The market for 70,000mt USGulf/UK-Cont gained 2.5 points to WS75.

 Clean

Middle East Gulf

In the Middle East Gulf, levels for 75,000mt to Japan rates nudged back up to the low WS60s.

It was a similar story with the market in the 55,000mt trade, which recovered around 7.5 points to sit now at WS 57.5.

UKC to USAC

It was a much better week for owners plying the 37,000mt UKC to USAC trade with the market now up 25 points at WS105.

US Gulf rates

In the backhaul business from the US Gulf rates eased just over five points to between WS117.5/120 region.

Cross-Med trade

It was another lacklustre week in the 30,000mt clean cross-Med trade with rates still stuck in the doldrums at WS80.

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Source: Baltic Briefing

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