Clean Tanker Market Stagnant

Tuesday, August 07, 2001
Conflicting forecasts were circulating in the Asian clean tanker market during the ninth week of stagnant trading, brokers said. "Next week there's plenty of ships but there's nothing prompt, so the supply side is looking good, but the demand side is a disaster," said a Singapore broker. "There simply is no demand." He pegged the benchmark route from Singapore to Japan at W230 ($15.04 per ton) for 30,000 ton cargoes, down 10 points from the middle of last week. "It'll fall another five points before the end of the week," he added. The route touched W300 in June. "Gone are the days of charterers fixing seven or more days ahead. They're just waiting around, taking a chance at picking off the more desperate owners," said another. Longer term, some brokers were optimistic that trade would pick up across the Pacific, removing ships from the region and tightening up Asian supply fundamentals. "I don't think it'll go haywire, but maybe it'll pick up a bit," said one Oslo broker. He said Texaco had booked the Dynamic Express for a transpacific cargo. Oslo broker Fearnleys said in a report last week that the effect had already kicked in: "The Far East looked slightly better, as USWC again starting to take off," it said. Singapore brokers said the Bro Caroline had been booked transpacific last week along with a Mitsui-owned vessel, but dismissed any talk of the trade picking up significantly. One said that some tanker owners had ballasted to the Mideast Gulf in the hope of picking up cargoes from there for East African destinations. Oslo broker Lorentzen & Stemoco said that trade had remained level at W260 basis 35,000 tons. - (Reuters)
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Strong Returns for Sovcomflot

Russia’s biggest shipping company PAO Sovcomflot (SCF Group) surpassed its own expectations and went forward on both revenue and net profit in the first six months.

CSDC Profts Soar

The bulker and tanker unit of state conglomerate China Shipping Group, China Shipping Development Co (CSDC) has delivered a first half performance which saw its profit spike,

Med Crude-Russian Urals Edges Lower in Med, Baltic

Russian Urals crude weakened in the Mediterranean and in the Baltic on Friday, while trading activity was limited ahead of a long holiday weekend in Britain, traders said.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
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: 0.1210 sec (8 req/sec)