Singapore VLCC Rates Break Worldscale 100 Barrier

Wednesday, April 19, 2000
Tanker rates for early liftings from the Middle East to short-haul Asian routes have burst through the Worldscale 100 points barrier, brokers said. An early May VLCC fixture for Singapore on the Flandre was reported at W105/6 ($6.75 per ton) and a Red Sea destination lifting was attempted at W100, brokers said. "Charterers are staring down the barrel of a W100-plus market," broker Galbraith's said. A shortage of modern vessels has pushed rates up, but charterers are now having to pay high levels even for older ships as they became difficult to find, brokers said. "Tonnage is in very short supply. It is going to keep rates at and around these levels for some time," another broker said. Several recent westbound fixtures to the U.S. would add to the vessel shortages by keeping a larger than usual number of vessels out of the Middle East for a couple of months, a broker said. - (Reuters)
Maritime Reporter June 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

GTT Records Order for 2 LNG Tankers

GTT receives a new order from Hyundai Samho Heavy Industries for two LNGCs for Teekay   GTT, a designer of membrane containment systems for the maritime transportation

MES Delivers Bulk Carrier Newbuild

MES delivers next ship of its Eco-Ship neo60BC design, 60,000 DWT type bulk carrierM.V. Phoenix Rising   Mitsui Engineering & Shipbuilding Co., Ltd. (MES) completed and delivered a 60,

NAPA Streamlines Compliance with Class Design Rules

NAPA Steel and NAPA Designer updated to reduce man-hours and duplication associated with new Common Structural Rules BC&OT   Global maritime software, services

Tanker Trends

GTT Records Order for 2 LNG Tankers

GTT receives a new order from Hyundai Samho Heavy Industries for two LNGCs for Teekay   GTT, a designer of membrane containment systems for the maritime transportation

NAPA Streamlines Compliance with Class Design Rules

NAPA Steel and NAPA Designer updated to reduce man-hours and duplication associated with new Common Structural Rules BC&OT   Global maritime software, services

Kenyan Port Workers Strike Over Higher Health Costs

More than 2,000 workers at East Africa's biggest port in Kenya's coastal city Mombasa went on strike on Wednesday protesting an increase in the amount they will

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair
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: 0.1803 sec (6 req/sec)