Tankers: VLCCs Down in the Week



Middle East Gulf rates to Eastern destinations lost the five to six points gained a week ago, leaving 270,000mt to China at WS 60 level, whilst 280,000mt to US Gulf, basis Cape to Cape, eased two points to WS 28. For 260,000mt West Africa to China a similar five to six point loss was seen as rates fell to WS 57.5. 270,000mt US Gulf to China fell about $150k to $6.35m. Elsewhere, 270,000mt Hound Point to South Korea is reported to have been fixed by an oil major at $5.55m and a Chinese charterer is rumoured to have covered Skaw to Ningbo at $5.45m. 270,000mt Ceyhan to Taiwan is rumoured to have covered at $5.75m.


Rates for 130,000mt West Africa to UK-Continent rose further to WS 67.5/70 level earlier in the week. However, these fell back to WS 65 at week-end, although this is still two to three points up on the previous week. 135,000mt Black Sea to the Mediterranean remained steady at WS 70 to 72.5 level and 140,000mt Basrah to the Mediterranean remains at WS 32.5 to 35 region.


80,000mt Ceyhan to the Mediterranean improved again, up ten points to WS 85. Rates remained flat for North Atlantic activity, with 80,000mt cross-North Sea at WS 85. 100,000mt Baltic to the UK-Continent was at WS 55 to 57.5 level. The 70,000mt Caribbean to US Gulf trade strengthened 15 points to WS 90 level, while 70,000mt US Gulf to the Mediterranean similarly improved to WS 85.


Middle East Gulf to Japan rates were mixed this week. The 75,000mt size fell a couple of points to WS 110 level while, in contrast, the 55,000mt sector improved five points to WS 125 level. Again, the big gainer was the 35,000mt Arabian Gulf to East Africa run, where rates increased a further 15 to 20 points to close at WS 210. In Europe, the 37,000mt Continent to US Atlantic Coast market maintained recent improvements at WS 95. The 38,000mt US Gulf to UK-Continent backhaul trade rose five points to WS 95.

Source from : The Baltic Briefing