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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Tanker Trends

Crowley Christens 2nd LNG-ready Product Tanker

Crowley christens second of four newly built, LNG-ready product tankers for use in U.S. coastwise trade   Crowley Maritime Corp. has christened the second of

Canada Says Lifting Some Sanctions Against Iran

The Canadian government said on Friday it was lifting some sanctions against Iran, including the broad ban on financial services, imports and exports, making Canadian

Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of

Bulk Carrier Trends

Demolition Age Drops as the Dry Bulk Market Enters Another Challenging Year

The dry bulk market faced a lot of headwind in 2015 as dwindling demand and over-supply created very unfavourable market conditions, says BIMCO.   2016 has shown

Sea Trade’s Problems Multiplying

For good or for bad, shipping market analysts have looked at trade growth ‘multipliers’ for many years, says Clarksons Research.   In 2015 global seaborne trade is estimated to have grown by 2.

Globus Maritime Reclassifies Board Member

Globus Maritime Limited, a dry bulk shipping company, announced today that when Georgios Karageorgiou, a Class I director of Globus Maritime Limited  resigned on December 28,

 
 
Maritime Contracts Maritime Security Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar 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: 0.0652 sec (15 req/sec)