Atlantic Rates Take a Beating

Friday, February 02, 2001
Freight for million-barrel tankers has taken a severe beating on routes from their traditional strongholds of West Africa and the Mediterranean, brokers said Friday.

"I can't really explain it, and I don't see much sign of imminent recovery," said one London tanker broker.

"There's been a massive amount of VLCCs fixed out of West Africa in the last three weeks," he said, implying that the bigger ships had taken all the million-barrel tankers' potential trade.

London's Baltic Exchange down rated its assessment of the route by nearly 22 points to W122 on Thursday. Friday fixture lists show two failed fixtures from West Africa by Sun at W120 and one by Hess to St Croix at W117.5.

The continued absence of Iraq from the Mediterranean market has also had an impact. "We saw Ceyhan starting to flow, but that never really happened, and what was done was done on VLCCs," said the London broker.

Oslo brokers reported Friday that Saras had taken a ship from Sidi Kerir to Italy at W115. The Baltic Exchange assessment for that route fell 30 points Thursday to W130, having stood at W163 last Friday. - (Reuters)

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

Tanker Trends

APM Maasvlakte II Terminal Opens

APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch

MISC Says AET Tankers Unit Not for Sale

MISC Berhad issued a statement today addressing recent market speculation that the company is set to sell its wholly owned petroleum tanker subsidiary AET Tankers.

Strong Tanker Market Extends Peak Season High Earnings

Tanker earnings for crude oil tankers have climbed to new strong levels in the first quarter of 2015, with averages not seen since 2008, the Baltic and International Maritime Council (BIMCO) reported.

Workboats

ABB's New Azipod Thruster

ABB has released details on its latest generation Azipod thruster, a unit which ranges in power from 1.6 megawatts to 7 megawatts (MW) and is intended to serve a growing electric propulsion market.

BHGI-designed ATB Unit Under Construction

Bristol Harbor Group, Inc. (BHGI) informs it is currently completing the detail design phase of a 399’ x 74’ x 30’ 80,000 BBL double hull oil tank barge and a 120’

Horizon Delivers Second 80’ Towboat to FMT

Horizon Shipbuilding, Inc. announced the delivery of another 80’ Inland River Towboat, the M/V Chip Stiebing, to Florida Marine Transporters (FMT) of Mandeville, La.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Port Authority Ship Electronics Ship Repair 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: 0.2166 sec (5 req/sec)