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 May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Solarworld Wants Duties on Chinese Solar Goods in U.S. Extended

German solar manufacturer SolarWorld will apply to the United States for an extension of duties on Chinese panel imports that are due to end this year, weekly Euro am Sonntag said.

Sea Urchin Haven Disturbed by Oil Spill

Stephanie Mutz makes a living plucking sea urchins from the Santa Barbara coast and selling the prickly treasure to upscale restaurants in Southern California.

5 Tunisian Migrants Die in Shipwreck

At least five Tunisian migrants died on Saturday when their boat sailing to Italy capsized off the Tunisian coast, officials said. "A migrant boat carrying

Tanker Trends

Red Tape, Industrial Relations Could Stifle LNG Potential

Australia could develop the world’s most technologically advanced LNG industry, according to a report by Accenture. But if industry is to reach its potential

HSH Bank to Split Off Bad Shipping Loans

German lender HSH Nordbank could split off a "bad bank" for non-performing shipping loans as part of a plan to create a sustainable business model, according to a person familiar with the matter.

Gail to Sell LNG Supplies from US to Shell?

GAIL (India) Ltd has signed a preliminary deal with Royal Dutch Shell for the potential sale of liquefied natural gas (LNG) supply sourced from its portfolio, made up of US production,

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction
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: 0.1388 sec (7 req/sec)