Tanker report Week 40
VLCCs
It has been another positive week for VLCCs with October tonnage looking markedly tighter. In the Middle East Gulf, the market for 270,000 tonnes going long east has risen 12.5 points to around 55 level, while rates for 280,000 tonnes to the US Gulf are now assessed at around WS 29 cape/cape representing a 4.5 point gain from a week ago and there remains potential further upward potential.
In West Africa, rates have similarly benefited from the stronger market in the Middle East Gulf. Reliance fixed at the equivalent of around WS 69 for 29/30 October to WC India while China discharge has been covered in the low/mid WS 50s all basis 260,000 tonnes cargo. A week ago the market here was nudging WS 50. In the North Sea, BP are said to have taken Front Eminence at $3.2 million from Rotterdam to Singapore while Petroineos reportedly paid $3.4 million. In the Caribbean, Essar paid $2.6 million for a run to WC India while rates to Singapore have been steady at around $3.85 million, although with firmer rates in the Atlantic and Middle East Gulf, brokers feel the market could strengthen further.
Suezmaxes
West Africa has suffered from a lack of enquiry and rates have dropped significantly before modestly recovering to settle at WS 82.5, representing a loss of almost 17.5 points in just over a week. In the Black Sea, rates have followed the downward trend in West Africa with the market now at WS 85 for 135,000 tonnes, in contrast to the WS 100 level of a week ago. There has also been interest from Black Sea to the East with Japan covered at $ 3.05 million while a Malta/Singapore run paid $2.3 million.
Tanker Report Week 41
VLCCs
Firm sentiment has seen the market continue its upward trajectory in all areas. In the Middle East Gulf, the market for 270,000 tonnes going long east moved another 10 points to around the 65 level while rates for 280,000 tonnes to US Gulf are now assessed at around WS 37.5 cape/cape, representing an 8-point gain from a week ago with potential for further gains as owners wait the November Saudi program.
In West Africa, healthy levels of enquiry have attracted the ballasters from the Far East and this has also helped drive the AG market up. For 260,000 tonnes to China rates have climbed 10 points to WS 65 with Taiwan discharge subsequently being fixed at WS 67. For the same size going west, a West Africa/USWC run went at WS 69. This activity has also attracted tonnage from the UK-Continent and Caribs, pushing rates up here with Caribs/Singapore being fixed at $4.4 million, up $550,000 from last week. There was even talk of $4.55 million having been agreed but this deal is understood to have failed. In the North Sea, Hound Point/South Korea went at $4.6 million in contrast to previous levels of $4.15 million.
Suezmaxes
West Africa has seen rates fall a further 7.5 points to WS 72.5 as plenty of tonnage gave charterers the upper hand which was not diminished by a number of ships failing subjects at the end of last week. However, with November cargoes now appearing in the market, brokers feel this may prevent further rate losses. In the Black Sea rates moved in sympathy with West Africa with the market now at barely WS 80 for 135,000 tonnes, in contrast to the WS 85 level of a week ago. Vitol are said to have taken Minerva tonnage at $3.1 million for Black Sea to South Korea. In the Mediterranean, short cross-Med business is said to have paid WS 82.5 for 130,000 tonnes, while Repsol covered 140,000 tonnes from Sidi Kerir to Spain at WS 70.
Das hört sich doch alles nicht so schlecht an! |
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