Tanker Market Remains High In Atlantic Basin

Friday, December 08, 2000
Tanker action was again focused in the Atlantic Basin this week, and though VLCCs edged in on the West African market, million-barrel tankers shrugged off the competition.

Six VLCC cargoes were fixed from West Africa, two of them heading east and four of them heading west. While usually this would erode demand for million-barrel ships and therefore rates, the million-barrel market actually gained eight points during the week to close at W228.

Million-barrel tanker rates also showed resilience in the Mediterranean, where they gained nine points during the week to reach W213 in spite of the stand-off between the U.N. and Iraq.

Smaller dirty tankers fared less well in the Mediterranean, losing several points to stand at W255 for modern vessels.

Similar sized ships made huge gains in the Caribbean, however, partly because owners were taking advantage of charterers' wary sentiment in the wake of the Westchester oil spill in the Mississippi last week.

Activity started to recover out of the Mideast Gulf, but rates still slipped slightly during the week on all routes.

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

Tanker Trends

Venezuela Ships First Crude Mixed with Algerian Oil to China

Venezuela is sending its first shipment of crude mixed with Algerian light oil to China, according to state oil company PDVSA and traders.   Venezuela recently

Asia Tanker, VLCC Rates Could Climb

Charterers to release 30 Middle East VLCC cargoes next week. VLCC market buoyed by upbeat Suezmax, Aframax sectors. Rates for very large crude carriers (VLCCs)

BG Group's Queensland Curtis LNG to Ship First Cargo

BG Group is set to ship the first cargo of liquefied natural gas from its flagship gas project Queensland Curtis LNG on Dec. 20, a source familiar with the matter told Reuters.

Bulk Carrier Trends

Ice to Close Upper Mississippi from Nov. 20

The shipping season on the upper Mississippi River will end on Thursday as ice surrounding locks and dams near Minnesota's Twin Cities forced the earliest winter

Mombasa's 2014 Port Cargo to Soar 14 pct

East Africa's biggest port, Mombasa, expects to handle at least 14 percent more cargo this year, helped by its expanded capacity and a marketing drive, its management said on Thursday.

Great Lakes Coal Up 9% in October

Shipments from Lake Erie nearly double that of a year ago Coal shipments on the Great Lakes topped 3 million tons in October, an increase of 9 percent compared to a year ago,

 
 
Maritime Careers / Shipboard Positions Naval Architecture Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators 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: 0.0950 sec (11 req/sec)