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

Tanker Trends

Weak Oil Threatens US Export of LNG

Plunging global oil prices may turn hopes for cheap liquefied natural gas supplies from the United States into a costly disappointment for Asian buyers who have

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

New Standard for LNG Cargo Containment Systems

Wilhelmsen Technical Solutions (WTS) said it has successfully completing the gas trial for the first LNG carrier built to a Boil Off Rate (BOR) of 0.08% per day.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1368 sec (7 req/sec)