Clean Tanker Rates Drop Another 10 Points

Wednesday, August 01, 2001
Clean tankers in the intra-Asian trades have suffered an eighth week of stagnant trading, causing rates to slip another 10 points to W240 ($15.69 per ton), Singapore brokers said on Wednesday.

"The panel rate (judged by a panel of six brokerages) is around W250, but we think it's much nearer W240 at the moment," said a broker. The benchmark trade from Singapore to Japan on 30,000 ton tankes almost touched W300 in June ($19.62 per ton).

Another Singapore broker pegged the trade at W245 and said to ignore rumors of a fixture this week at W230.

"There's just very little enquiry for ships from Singapore," said the broker.

Singapore brokers were uncertain of the underlying reason, but Olso broker Lorenzen & Stemoco said in a report last week that Asian trades were set to be undermined by Atlantic trades and trans-Pacific trades, which were trading down on slack demand from the U.S.

Rates for long-range cargoes from the Mideast Gulf to Japan on 75,000 ton tankers appear to have stabilized around the W200 mark ($25.48 per ton), following a slip from W230 at the start of June. "It's difficult to judge, because there hasn't been a 75,000 ton fixture in ages, but last week Vitol fixed an 80,000 ton cargo from the Red Sea to Japan at W192.5," said a broker. He pegged the trade on 55,000 ton tankers at W220 ($28.03 per ton).

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

Tanker Trends

Oil is on the Rise

Oil prices rose in early trading on Monday as Asian markets opened strongly into a holiday-shortened week and as consensus spread that Brent crude prices would

Larger Tankers May Offer Better Return Chances

Investors looking for returns in the tanker markets can invest their capital in a variety of ways. Should an owner invest in a VLCC or an Aframax? How about an

Benghazi Port Still Closed, Imports Rerouted

The commercial port in Libya's second city, Benghazi, remains closed due to fighting between pro-government and Islamist forces, forcing wheat imports to make a detour via Tobruk harbour,

 
 
Maritime Security Naval Architecture Offshore Oil Pipelines Port Authority Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Sonar Winch
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: 0.0772 sec (13 req/sec)