Rates Steady On Tightening Tonnage Levels

Monday, October 11, 1999
Charter rates for crude tankers in the key Middle East market steadied at the beginning of last week after rising over the last few days on tightening tonnage levels. Shipbrokers said the rates, which had moved higher on the back of tightening tonnage supply coupled with a good supply of cargoes, could show further gains next week. VLCCs heading to Japan were pegged in the mid W50s with Singapore and South Korea discharges a couple of points lower. Brokers E.A. Gibson in a weekly report said there had been a reduction in the number of V/ULCCs available for charter in the lifting zone, giving optimism to owners. West African liftings continued to be dominated by million barrel vessels. Rates were assessed around the low W70s for trips to the U.S. In the U.K./continent market 80,000 tonners continue to attract W80 for inter UKC trips while in the Mediterranean Aframaxes were securing around W90 for typical cross Med hops. Across the Atlantic the 70,000 Caribs-up U.S. coast market saw rates hovering around W100.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

FMC's William P. Doyle Issues Statement on EL FARO Tragedy

On Thursday evening, October 1, 2016, the ship EL FARO went missing. The ship was en route from Jacksonville, Florida to San Juan, Puerto Rico. On Monday, four days after the ship vanished,

Swiss Re Establishes North America Marine Team

Swiss Re Corporate Solutions has expanded its marine business by opening a North America marine office. Beginning October 1, 2015, the New York-based team will provide ocean cargo insurance,

Abu Dhabi Ports Achieve Pilot Certification

Khalifa Port and Zayed Port become first commercial ports in Middle East to achieve certification for marine pilots; Abu Dhabi Ports Marine Services gets I.S.P.

Tanker Trends

GTT Inks Framework Partnership Deal with CERN

GTT, a designer of membrane containment systems for the maritime transportation and storage of liquefied natural gas (LNG), has signed a Framework Partnership Agreement

d'Amico Launches Two Tankers in Vietnam

d'Amico International Shipping S.A. has launched two eco-ships at the shipyards of Hyundai Vinashin Shipyard Co. Ltd – Vietnam, bringing the fleet to more than 50 units.

New Head for Odfjell Tankers

Odfjell announced it has appointed Senior Vice President Harald Fotland to new Head of Odfjell Tankers. Fotland comes from the position as SVP/Chief of Staff

Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Sonar
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: 0.1468 sec (7 req/sec)