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

Tanker Trends

New Company Takes Over OW Tanker

OW Tanker, a unit of bankrupt OW Bunker and owner of its marine fuel supply ships, has been taken over by a newly-created company, the fleet manager told Reuters on Wednesday.

Stena Bulk Joins World Ocean Council

Stena Bulk reports it is the first Swedish shipping company to join the World Ocean Council (WOC), a global organization that converges a diverse range of maritime

US House to Hold Hearing on Oil Export Ban

A House of Representatives panel will hold a hearing on Dec. 11 to explore whether a decades-old law that prohibits the export of crude oil makes sense in an era of domestic energy abundance.

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Offshore Oil Salvage Ship Electronics 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: 0.0981 sec (10 req/sec)