Caribbean Tanker Rates Rise

Wednesday, May 16, 2001
Scant supply of suitable tankers combined with a seasonal upswing in demand has conspired to force up the cost of shifting gasoline from Caribbean refineries to the U.S Atlantic coast, brokers said. "The market's definitely picking up from a month ago when refinery maintenance was still going on, and now it's coming up to the regular season," said a U.S. broker. London brokers said the market had risen by at least W40, or $1.56 per ton, since last Wednesday. "Not much has been done this week, but then there aren't many ships about either. There's not too many SBT ships about," said the U.S. broker. SBT ships are a type of tanker in high demand because they are designed to offer more protection against accidental spillage than normal single-hulled tonnage. The broker said most of the cargoes being moved at the moment were gasoline, but there was also some jet, pegging the 30,000-ton trade at W325 ($12.64 per ton) and the 40,000-ton trade at W265 ($10.31 per ton). London's Baltic Exchange pegged the benchmark 30,000-ton trade at W331 ($12.88 per ton) on Tuesday, while London broker SSY's estimate was over W340 ($13.23 per ton). This represents an increase of $2.34 per ton in the last three weeks and an increase of $3.70 per ton in the last two months. London brokers said BP had paid $12.84 per ton to shift 30,000 tons of cargo upcoast this week on the Andoas, while Citgo had paid $10.11 to shift 40,000 tons of cargo upcoast next week on the Kriti Amethyst. - (Reuters)

Maritime Today

The Maritime Industry's original and most viewed E-News Service

Maritime Reporter November 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds


Lighter, Longer-lasting Laminate from Dimension-Polyant

Dimension-Polyant, part of the DEUTSCHE YACHTEN working group, has developed a longer-lasting but lighter surface laminate for the discerning owner and skipper,

Extended Warranty from Yanmar for Sailboat Engines

Yanmar Marine International B.V. has introduced an extended 3 years’ period of YANMAR Limited Warranty for Sailboat Engine Models. This extended warranty of

Damen Marine Components Opens Jiangyin Plant

Damen Marine Components (DMC) is proud to announce the opening of its brand new facility in Jiangyin, China.Those present at the opening ceremony included CEO

Tanker Trends

Idling Fleet Continues to Surge

Owners are rapidly laying up containerships as the market slows. The size of the idle fleet will get bigger while rates and profits slide, says Drewry Shipping Consultants Limited.

Egypt to Complete East Port Said Side Channel in 2016

Egypt plans to complete a side channel in East Port Said, near the Suez Canal, that would speed up shipping and allow ships direct entry into the port by the end of June 2016,

Concordia Maritime Charters MR Tanker

Concordia Maritime has signed a contract for the charter of an IMO2/3 class MR tanker, the company announced today. The vessel will be chartered jointly with Stena Weco,

Maritime Contracts Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority 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: 0.0730 sec (14 req/sec)