Tanker report Week 45
VLCCs
Although activity in the Middle East Gulf was less than expected, the market for 270,000 tonnes going both long and short east has been steady in the mid WS 60s down around 3 / 4 points from a week ago while rates for 280,000 tonnes going west have held at around WS 38.5/39 level basis cape/cape routing.
In West Africa, rates for 260,000 tonnes to China have similarly been steady at between WS 65 and WS 67.5 respectively. The Caribbean rates to Singapore have maintained at around $4.5 million, while WC India discharge has been fixed at around $3.8/3.9m level. In the North Sea, ship to ship Skaw/China was fixed at $5.35 million while fuel oil from Rotterdam to Singapore was covered at $4.15 million. In the Mediterranean, Socar are said to have paid $5.4 million for a Ceyhan to Taiwan run.
Suezmaxes
West Africa rates started the week under pressure with a trip to the US Gulf reportedly being fixed at WS 50. Thereafter a combination of increased activity in the Caribbean-US Gulf and North Sea led to a significant thinning of the tonnage list and a flurry of end November cargoes in West Africa pushed rates back up to WS 70 basis 130,000 tonnes for Europe discharge, and brokers feel there is potential for further firming with a number of outstanding cargoes in the market.
The beginning of the week saw rates for 135,000 tonnes from Black Sea to Mediterranean come under downward pressure with rates initially dipping down from high WS 60s to around WS 65/66 level. Thereafter the significantly firmer West Africa market together with a much improved Med Afra market, saw a somewhat more bullish mood from owners and rates rose quickly to around WS 77.5. There were also improved levels of enquiry from Libya and Bahri split a VLCC cargo and took two suezmaxes from Sidi Kerir to Rotterdam at WS 55 basis 140,000 tonnes cargo. |
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