Mideast Clean Tanker Rates Slip On Kuwait Effect

Friday, July 07, 2000
Middle Eastern clean product tanker rates slipped as cargoes for some ship sizes became scarce as a result of the Kuwaiti refinery outage, brokers said on Friday, but in general markets remained strong, they added.

Vessels were starting to become available in prompt positions, broker E.A. Gibson said in a report, and rates for 35,000 tons to the Far East slipped to W295. Short-haul cargoes were apparently scarce as a knock-on effect from the Kuwait refinery fire last week, Gibson said. Charterers due to load from the region were forced to buy prompt cargoes to secure alternative employment for vessels, it said. But larger vessels fared better with levels maintaining W230 for 75,000 tons.

U.S. holidays held Caribbean levels at about W260 for 30,000 tons and W190 for 40,000 while heavy inquiry for jet fuel to Europe resulted in just a couple of fixtures at about W150 for 40,000 tons.

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

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 Careers / Shipboard Positions Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar 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: 0.0662 sec (15 req/sec)