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

Cruise Ship Trends

Norwegian Buys Ship from Princess Cruises

Norwegian Cruise Line Holdings Ltd. announces fleet expansion for Oceania Cruises in 2016; Sirena to join sister ships Insignia, Regatta and Nautica   Norwegian Cruise Line Holdings Ltd.

MSC Cruises Advance Onboard Wi-Fi System

MSC Cruises has started a fleet-wide optimization installed by Marlink to improve shipboard VSAT (Very Small Aperture Terminal) connectivity. MSC Cruises said it

Fincantieri Sign MoUs with Carnival & CSSC

Fincantieri, the world leader in the construction of cruise ships, has signed two memorandums of understanding, respectively with Carnival Corporation, the world’s largest cruise line,

Tanker Trends

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.

Frontline Disappoints with Deeper 3Q Loss

Frontline, once the world's biggest crude oil tanker company, reported a bigger than expected third-quarter loss on Tuesday and said it is still considering options

Navios Revenue Up 25% in 3Q 2014

Highlights of Navios Maritime Holdings Inc. Financial Results for the Third Quarter and Nine Months Ended September 30, 2014: Revenue 25% increase to $152.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Navigation Offshore Oil Pipelines Ship Electronics 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: 0.2139 sec (5 req/sec)