Crude Tanker Rates Hold Firm Ahead Of Holiday

Thursday, December 30, 1999
Crude oil tanker rates maintained recent strength as markets continued active ahead of the Christmas break, shipping brokers said on Dec. 23. "Aframax and Suezmax markets are still bouyant; only VLCCs are still struggling along," one broker said. Tankers were fixed ahead of the holidays next week which would leave just Wednesday and Thursday for London brokers to trade. Not much activity was expected then. Continued shortage of tonnage for prompt dates were holding UK-Continent Aframax rates in the region of W150-160 ($5.50-5.85 per ton), slipping from a high of W165 achieved early this week. Cross Mediterranean voyages for the 80,000 ton vessels could achieve up to W122.5 ($4.20 per ton) while rates from the Mideast to Far East were about W130 ($13.75). Caribbean - upcoast U.S. rates for 70,000 ton cargoes were also on the march with reports varying between W145 ($5.85) and W165 ($6.65 per ton). One million barrel Suezmaxes continued strong in the Atlantic with rates of W110 ($9.65 per ton) and W112.5 ($9.85) reported for West Africa-U.S. journeys and cross Mediterranean levels heading towards W120 ($4.15) as a result of restarted Ceyhan liftings. VLCCs out of the Middle East continued to hold levels of around W52 ($5.50 per ton) for Japan, W47.5 ($4.50 ) for Korea and W45 ($7.40) for the U.S. Gulf. Rates were expected to hold up in early January but slip away toward the middle of the month when some brokers forecast a lull after recent demand to stock up on crude supplies. - (Reuters)
Maritime Reporter January 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Cruise Ship Trends

Danish Pleasure Craft Safety Board Gets A New Head

From 1 February 2015 a new chairman will head the Danish Pleasure Craft Safety Board. The new incumbent is Jan Thorn, who is in his everyday work Director

MSC Sinfonia Upgradation at Fincantieri Shipyard

Extension operations on MSC Sinfonia, the second out of four MSC cruise ships to undergo the Renaissance Programme of enhancements, have begunin the past days at Fincantieri shipyard in Palermo.

Carnival Cruise Line Returns to Europe

Carnival Cruise Lines is to return to Europe next year with its biggest ship ever, the 3,936-passenger Carnival Vista.  The Doral-based cruise line revealed details about the new 133,500-ton vessel.

Tanker Trends

Yamal LNG Inks Deal with Gazprom to Sell LNG in Asia

A trading subsidary of Russian gas producer Yamal LNG has signed a long-term supply contract with a trading subsidiary of Gazprom, under which liquefied natural

Maran Orders 4 LNGCs from DSME

Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) will build four large Liquefied Natural Gas Carriers (LNGC) for Maran Gas.   The four LNGCs

Tepco, Chubu Buying 6 LNG cargoes from Vitol

Japan's Tokyo Electric Power Co and Chubu Electric Power Co,, are expected to buy a total of six cargoes of liquefied natural gas (LNG) from Vitol and GDF Suez in their first joint tender,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Sonar
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: 0.0990 sec (10 req/sec)