Clean Tanker Rates Drop Another 10 Points

Wednesday, August 01, 2001
Clean tankers in the intra-Asian trades have suffered an eighth week of stagnant trading, causing rates to slip another 10 points to W240 ($15.69 per ton), Singapore brokers said on Wednesday.

"The panel rate (judged by a panel of six brokerages) is around W250, but we think it's much nearer W240 at the moment," said a broker. The benchmark trade from Singapore to Japan on 30,000 ton tankes almost touched W300 in June ($19.62 per ton).

Another Singapore broker pegged the trade at W245 and said to ignore rumors of a fixture this week at W230.

"There's just very little enquiry for ships from Singapore," said the broker.

Singapore brokers were uncertain of the underlying reason, but Olso broker Lorenzen & Stemoco said in a report last week that Asian trades were set to be undermined by Atlantic trades and trans-Pacific trades, which were trading down on slack demand from the U.S.

Rates for long-range cargoes from the Mideast Gulf to Japan on 75,000 ton tankers appear to have stabilized around the W200 mark ($25.48 per ton), following a slip from W230 at the start of June. "It's difficult to judge, because there hasn't been a 75,000 ton fixture in ages, but last week Vitol fixed an 80,000 ton cargo from the Red Sea to Japan at W192.5," said a broker. He pegged the trade on 55,000 ton tankers at W220 ($28.03 per ton).

Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Global Shipping Exposed to Cyber Threats

The next hacker playground: the open seas - and the oil tankers and container vessels that ship 90 percent of the goods moved around the planet. In this internet age,

Euronav Posts 62% Core Profit Increase

Belgian crude oil shipping group Euronav on Wednesday unveiled a 62 percent rise in first-quarter core profit as daily rates for its fleet rebounded from last year.

Navios Time Charters Two Product Tankers

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced  that the Nave Equinox and the Nave Pulsar have been chartered out

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.0646 sec (15 req/sec)