North Sea Aframax Rates Rise

Friday, February 11, 2000
North Sea Aframax rates sky rocketed on Friday as continuing pressure to charter modern tonnage strengthened all tanker markets, shipping brokers said. Rates as high as W175 ($6.50 per ton) were reported on Friday, up from up to about W140 ($5.25) on Thursday, for 80,000 ton ships on inter-continent voyages. Strong 140,000 ton Suezmax markets also meant virtually no new ships were available in Europe to mop up double Aframax cargoes, brokers said. Some 1970s built units were spot off Gibraltar with no takers, while around them modern double hull ships were being booked two or three weeks in advance, broker Galbraith's said in its weekly report. Suezmaxes were heading for West Africa where rates have also climbed, to around W117.5 ($10.75 per ton) for the U.S., or the Mediterranean where rates have achieved W125 ($4.15) and more, brokers said. The 1991-built Front Birch was reported at an exceptional W140 ($4.65 per ton) for Ceyhan-Augusta. Five VLCC fixtures out of West Africa were also reported Friday as charterers combined cargoes to escape the high Suezmax prices. Rates put on a few points to W65-67.5 ($6.25 per ton) for the U.S. Gulf and W70 to Europe.
Maritime Reporter September 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

d'Amico Launches Two Tankers in Vietnam

d'Amico International Shipping S.A. has launched two eco-ships at the shipyards of Hyundai Vinashin Shipyard Co. Ltd – Vietnam, bringing the fleet to more than 50 units.

New Head for Odfjell Tankers

Odfjell announced it has appointed Senior Vice President Harald Fotland to new Head of Odfjell Tankers. Fotland comes from the position as SVP/Chief of Staff

Teekay LNG Partners Declare Distribution

Teekay GP LLC, the general partner of Teekay LNG Partners L.P. has declared a cash distribution of $0.70 per unit for the quarter ended September 30, 2015. The

Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Simulators Shipbuilding / Vessel Construction 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: 0.1238 sec (8 req/sec)