Rates Steady On Tightening Tonnage Levels

Monday, October 11, 1999
Charter rates for crude tankers in the key Middle East market steadied at the beginning of last week after rising over the last few days on tightening tonnage levels. Shipbrokers said the rates, which had moved higher on the back of tightening tonnage supply coupled with a good supply of cargoes, could show further gains next week. VLCCs heading to Japan were pegged in the mid W50s with Singapore and South Korea discharges a couple of points lower. Brokers E.A. Gibson in a weekly report said there had been a reduction in the number of V/ULCCs available for charter in the lifting zone, giving optimism to owners. West African liftings continued to be dominated by million barrel vessels. Rates were assessed around the low W70s for trips to the U.S. In the U.K./continent market 80,000 tonners continue to attract W80 for inter UKC trips while in the Mediterranean Aframaxes were securing around W90 for typical cross Med hops. Across the Atlantic the 70,000 Caribs-up U.S. coast market saw rates hovering around W100.
Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

Tanker Trends

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

MARAD Seeks Comments on Proposed Policy for Deepwater Export Applications

The Maritime Administration (MARAD) is seeking comments on the agency’s proposed policy to accept, evaluate and process license applications for the construction

Oil Drillers Group to Fight U.S. Export Ban

More than a dozen U.S. oil producers have joined to lobby the federal government to reverse the 40-year-old ban on U.S. crude exports, a move that supporters hope

 
 
Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage 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: 0.1207 sec (8 req/sec)