Erika Syndrome Hits Aframax Market

Friday, February 11, 2000
The Erika syndrome, by which charterers are seeking tankers younger than 20 years of age, shifted focus to the Atlantic Aframax markets, shipping brokers said. Two weeks ago oil lifters scrambled to fix modern VLCCs for Middle East to Far Eastern destinations, lifting rates by a third, on the back of anxiety about older substandard tankers after the Erika broke up off France in December. This week 80,000 tonners in the North Sea benefited from a combination of tight availability and the rush to quality while in the Mediterranean poor weather helped a two tier market develop. Million barrel rates out of West Africa were also bouyant on demand from the U.S. But VLCC rates in the Mideast slipped back between five and ten worldscale points to W58-60 (up to $6.50 per ton) for Japan and W55 ($3.50) for Singapore as February cargoes petered out. Aframax rates climbed 25 points over the week to W130 ($4.80) for North Sea inter-continental trips and W150 ($10.35) to the U.S. In the Mediterranean, newer 80,000-ton tankers were achieving up to W130 while older units were pegged back around W115. Suezmaxes in the Med climbed above W105 ($3.50) while rates to the U.S. were approaching W100 ($9.15) and for China W80.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

DNV GL Issues Design Guidelines for DP Operations

Advanced dynamic positioning (DP) vessels can now meet critical safety regulations while gaining operational flexibility, efficiency and cost savings through new design and monitoring methods.

CEVA Appoint Two Sr Executive

Hoofddorp, the Netherlands, 27 April, 2015 – CEVA Logistics, one of the world's leading supply chain companies, today announced the appointment of two senior

Floating LNG Regasification is Used in Smaller Markets

According to the latest research from the US Energy Information Administration (EIA), floating LNG (FLNG) regasification is being used to meet rising natural gas demand in smaller markets.

Tanker Trends

Euronav Warns Against Speeding up Tankers

Many investors are asking questions about the dynamics of the tanker market and asked us to confirm their views on vessel utilisation across the tanker market. This

Floating LNG Regasification is Used in Smaller Markets

According to the latest research from the US Energy Information Administration (EIA), floating LNG (FLNG) regasification is being used to meet rising natural gas demand in smaller markets.

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Port Authority Ship Repair
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1134 sec (9 req/sec)