Weekly Tanker Report – Week 51, 2019

By
Mfame Team
-
892

 

The Baltic Briefing has issued the tanker report for the 51st week of this year. The report dated 20th December 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 are up almost 20 points from a week ago to WS120/122.5 level.
  • However, there is now some downward pressure and 280,000mt Middle East Gulf (MEG) to US Gulf (USG), Cape to Cape is now about WS65.
  • In the Atlantic a similar scenario was seen, with rates for 260,000mt West Africa to China firming 15 points to WS115/117.5 region.
  • Rates for 270,000mt USG to China have also improved and are now up about $600k to $12.2/12.3m range.

Suezmax

  • The 130,000mt West Africa to UK-Continent (UKC) market has firmed again, moving up about 12 points to WS152.5.
  • 135,000mt Black Sea to the Mediterranean has had almost 10 points added, levelling out at WS157.5.
  • The market for 140,000mt Basrah to the Mediterranean has tightened in the short term and is now rated 25+ points up at WS90 level, even though the equivalent of WS100 was reported on subs for a beginning January loading.

Aframax

  • The 80,000mt cross North Sea market shrank by 10 points to WS235. 100,000mt Baltic to UKC lost five points to WS197.5/200 region.
  • 80,000mt Ceyhan to Lavera rates gained a handful of points to low WS200s.
  • On the other side of the Atlantic, rates for 70,000mt Caribbean to USG have been forced up 60 points to WS270 level, while 70,000mt USG to Trieste increased 40+ points to WS245.
  • Rates for 80,000mt Kuwait to Singapore were last assessed at WS200 level, up 30+ points week-on-week, however there are rumours of much higher being paid at the time of writing.

Clean

  • The market for both 75,000mt and 55,000mt from the Middle East Gulf to Japan made marginal gains of about three points to settle in the high WS150s.
  • Rates for 37,000mt to US Atlantic Coast gained a further 10 points to WS185 level and 38,000mt USG to UKC lost 2.5 points to settle at WS125.

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Source: BalticBriefing