Weekly Tanker Report – Week 33, 2019

By
Mfame Team
-
1709

The Baltic Briefing has issued the tanker report for the 33rd week of this year. The report dated 16th August 2019 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

  • Middle East Gulf rates initially eased, with rates for 270,000mt to China hovering around WS 52/54 region before WS 57 was agreed for ‘East’ discharge.
  • For 280,000mt Middle East Gulf to US Gulf basis Cape to Cape, the market now sits at around WS 24.5 down a shade from a week ago, though WS 26.5 was agreed for an options cargo.
  • The market for 260,000mt West Africa to China eased modestly to WS 53.5 before recovering as ENI took Maran tonnage at WS 57.5.
  • Hound Point to Korea went at $5.4 million, while 270,000mt US Gulf to China reportedly went at close to $6.25 million.

Suezmax

  • Rates for 130,000mt West Africa to UK Continent softened from low WS 60s to WS 57.5, with Rotterdam discharge fixed at WS 56.25.
  • The 135,000mt Black Sea to Mediterranean trade was steady at around WS 70 level.
  • There was a similar flat sentiment for 140,000mt Basrah to the Mediterranean, which still hovers around WS 32.5 region.

Aframax

  • 80,000mt Ceyhan to the Mediterranean held at WS 72.5, with the Black Sea to the Mediterranean also static at WS 80.
  • In the 80,000mt cross-North Sea trade an uneventful week saw rates stuck in the low to mid WS 80s, depending on the precise voyage.
  • 100,000mt cargoes from Baltic to UK Continent were fixing at WS 55, with 2.5 points premium paid for voyages requiring wider short options.
  • The 70,000mt Caribbean to US Gulf trade gained 2.5 points to WS 75 and 70,000mt US Gulf to the Mediterranean is now five points higher at WS 70.

Clean

  • The market for 75,000mt Middle East Gulf to Japan fell five points to WS 110 and remains under downward pressure.
  • WS 105 was agreed for a ship with a not preferred last cargo history. The 55,000mt to Japan trade also softened, with WS 105 agreed by Idemitsu, which is a 10 point drop.
  • In Europe, a slow week combined with plenty of tonnage saw rates drops 12.5 points to WS 90.
  • Similarly, in the backhaul 38,000mt US Gulf to UK Continent trade, rates fell 10 points to very low WS 80s.

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Source: BalticBriefing