Asian Tanker Rates Drop

Tuesday, June 26, 2001
Asian tanker rates started heading downhill this week after two months of stability, Singapore brokers said. "It's softened quite a bit since last week," said one clean tanker broker from a major international broking house. "There's no cargoes and lots of ships on the spot market are coming open for early July." He pegged the benchmark route from Singapore to Japan at W285 ($18.67 per ton) for 30,000 ton cargoes. "Older tonnage, non-approved tonnage, might go for cheaper, say W280," he added. Brokers said the route had remained stable at W295 ($19.33 per ton) since the start of May, but fell to W290 on Friday before weakening further over the weekend. London tanker broker Gibsons warned on Friday of a downturn in clean tanker trades. "Until the volume of product to be shipped increases and longer haul trade returns, the forecast remains bleak in the short-term," it said. The key Asian long-range trade from the Mideast Gulf to the Far East last week failed to make the gains that had been predicted for it. "We've just seen a 75,000 ton cargo fail at W232.5, so that puts last done back down at W230 ($29.30 per ton)," said a Singapore broker. Last Tuesday brokers pegged the trade at W235 ($29.94 per ton). This followed a major improvement on May figures, when the trade hit a low of W185 ($23.57 per ton). - (Reuters)

Maritime Today


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

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Tanker Allision on the Piscataqua River

The U.S. Coast Guard says it is continuing to monitor the condition of the chemical tanker Chem Venus, after it allided with three unoccupied, moored sailboats

NAT Takes Delivery of Suezmax, Earnings Capacity Up

Nordic American Tankers Limited ("NAT" or "the Company") announced that it today took delivery of a Suezmax vessel, the Nordic Sirius, built at a shipyard in Japan.

BIMCO - Oil Product Tankers Earnings Decline as stockbuilding Slows Down

BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is still money to be made in the second half of 2016.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Electronics 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: 0.0481 sec (21 req/sec)