Weekly Tanker Report – Week 45, 2020

By
Mfame Editor
-
1267

The Baltic Briefing has issued the tanker report for the 45th week of this year. The report dated 06th November 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.

VLCC

Rates remain weak, albeit steady across all sectors. 

Middle East

In the Middle East: 

  • 280,000mt to USG via the Cape/Cape routing remained at a fraction above WS15, 
  • 270,000mt to China continued to achieve WS26. 

Atlantic

In the Atlantic, rates for 260,000mt West Africa to China held around the WS29 level and $4.55m region for 270,000mt USG to China.

Suezmax

135,000mt Black Sea/Med 

Rates for 135,000mt Black Sea/Med were maintained at around WS45.

130,000mt Nigeria to UK Continent 

Rates for 130,000mt Nigeria to UK Continent saw a modest two-point gain to between WS32.5 and WS35. 

Middle East market

In the Middle East market, rates for 140,000mt Basrah/Med improved by about four points to around WS20-22.5 level, with Turkish and Greek charterers fixing at WS20 and a US oil major reported to be replacing a failed WS20 fixture at WS22.5 on an ex drydock vessel.

Aframax

  • Rates for 80,000mt Ceyhan/Lavera fell back about three points to just over WS61. 
  • In Northern Europe rates weakened a couple of points to between WS67.5-70, while 100,000mt Baltic/UKC remained close to WS42. 
  • On the other side of the Atlantic, rates for 70,000mt Carib/USGulf are unchanged at WS45, while 70,000mt USG/UKC recovered 2.5 points to around WS44.

Clean

Middle East Gulf/Japan trade rate

In the Middle East Gulf/Japan trade, rates for 75,000mt are static at WS57.5 level, while the LR1 market regained four points to the WS65 mark. 

37,000mt UKContinent/USAC market rates 

In the 37,000mt UKContinent/USAC market rates continued to slide, settling at around WS67, down around five points from a week ago. 

Backhaul trade 

The backhaul trade for 38,000ms from US Gulf to UKContinent saw rates dip 2.5 points to WS50, while 38,000mt US Gulf to Brazil remained flat at WS70. The 30,000mt cross-Mediterranean market was unmoved at W77.5 level.

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Source: Baltic Exchange