Tankers: Slight Recovery for Larger Vessels
Middle East Gulf rates recovered slightly with 280,000mt to US Gulf, basis Cape to Cape now being rated up a point at WS 26/27 level. 270,000mt to China picked up about three to four points to WS 53.5/54 region.
Rates for 260,000mt West Africa to China rose about five points to WS 57.5. 270,000mt US Gulf to China rates improved about $250k to around $6.5m. In the North Sea, a Hound Point to Korea trip was reported at just under $6m.
Rates for 130,000mt West Africa to UK Continent were sideways again at WS 60, while 135,000mt Black Sea to the Mediterranean improved a couple of points to WS 72.5 level. The 140,000mt Basrah to Mediterranean rates fell a couple of points to WS 30.
80,000mt Ceyhan to the Mediterranean gained another 10 points to WS 105. In the North Sea and Baltic rates improved. 80,000mt North Sea to UK Continent was at WS 100, up 5 points. 100,000mt Baltic to the UK Continent is now rated 10 points higher week-on-week at WS 87.5/90 level. However, at time of writing there is a report of WS 95 on subjects.
On the other side of the Atlantic, 70,000mt Caribbean to US Gulf remained flat at WS 120. 70,000mt US Gulf to the Mediterranean rose about five points to WS 112.5/115 level, although one charterer took a suezmax for an afra cargo, ensuring a safe itinerary at WS 119 equivalent.
The market for 75,000mt Middle East Gulf to Japan came under downward pressure, easing from WS 105 to WS 102.5, with talk of Socar now fixing at WS 100. 55,000mt to Japan lost around 2.5 points to sit now at WS 112.5.
Limited enquiry in the 37,000mt clean Continent to US Atlantic Coast trade saw rates drop 2.5 points to WS 95. The 38,000mt US Gulf to UK Continent backhaul trade remained under downward pressure, easing five points to WS 75 region.
Source: The Baltic Briefing