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

Shipbuilding

Holland America Line's New Ship is ms Koningsdam

Holland America Line revealed the name of its new 99,500-ton cruise ship slated for delivery in February 2016 will be ms Koningsdam. While the name pays homage

USNS Fall River Delivered by Austal USA

The Navy informs it has accepted delivery of Joint High Speed Vessel, the future 'USNS Fall River' from the Austal USA shipbuilder. The delivery marks a major milestone,

Ingalls Delivers NSC Hamilton to USCG

Huntington Ingalls Industries' (HII) Ingalls Shipbuilding division delivered the National Security Cutter Hamilton (WMSL 753) to the U.S. Coast Guard today. The

Tanker Trends

Upcoming Winter Tanker Market Same as Last Year?

Will the 2014/15 winter tanker market be a repeat of the previous one? Poten & Partners consider the question in their latest 'Poten Tanker Opinion'. As the

Mideast Crude Tanker Rates Near 3-month Low

Crude oil tanker earnings on the major Middle East route fell to their lowest in nearly three months as a slowdown in business in recent days battered rate sentiment.

China Orders More MAN Dual-Fuel Units

51/60DF engines to power LNGCs MAN Diesel & Turbo has announced a further order for its MAN 51/60DF engine. After a longer period of evaluation, an international consortium,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1028 sec (10 req/sec)