Tanker Rates Double

Thursday, August 16, 2001
Rates for tankers to carry crude cargoes from the North Sea to Europe have nearly doubled over the last 48 hours to levels not seen since April, brokers said on Thursday. "Shell fixed one tanker at W175 this afternoon, and there are a few still negotiating nearer to W200 ($1.07 per barrel)," said a London broker. He said the market opened at just over W110 on Wednesday. "There are still cargoes for the end of this month. Charterers have left it a bit late and are getting edgy, and owners have sensed that," said another. One owner said early on Thursday that he had received as many as eight offers of North Sea cargoes for a ship that was available between August 25 and August 31 and would be holding out for a very firm rate. Brokers said U.S. operator Teekay had been advertising an available Aframax (70-80,000 tons) at W162.5 in the morning, compared to a "last-done" rate of W150. London's Baltic Exchange pegged the benchmark North Sea route from Sullom Voe to Wilhelmshaven at W168 on Thursday evening, compared to W114 on Wednesday. Tanker owners have fought back in several other markets, making significant gains for prompt loading dates in the Mideast Gulf and West Africa. - (Reuters)
Maritime Reporter May 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

IRS Introduces Ship Construction Standards

The International Register of Shipping has submitted goal-based new ship construction standards for verification audit by the International Maritime Organisation.

Aramco Offers Rare 1.5 pct Gasoil Cargo

Aramco Trading, the trading arm of oil producer Saudi Aramco, has offered a rare gasoil cargo with a 1.5 percent sulphur content for June lifting from Rabigh, traders said on Thursday.

Bulk Carrier Trends

Q88 LLC Opens Office in London

Q88 LLC has opened a new office in London. Located in Soho, the cultural center of London's West End district, the office will serve as a hub for business development and client relations.

IRS Introduces Ship Construction Standards

The International Register of Shipping has submitted goal-based new ship construction standards for verification audit by the International Maritime Organisation.

Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Simulators Shipbuilding / Vessel Construction Winch
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: 0.1135 sec (9 req/sec)