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

Tanker Trends

Jones Act Tanker Chartered for Airline Refinery

Delta Air Lines Inc's refining unit has chartered a U.S.-flagged oil tanker for the first time, allowing it to tap directly into cheap Texas shale oil as the company overhauls its supply strategy.

Horizon Delivers 4th 74’ Towboat for Canal Barge Co.

Horizon Shipbuilding, Inc., Bayou La Batre, AL, has delivered the fourth in a series of 74’ towboats to Canal Barge Company, Inc. of New Orleans, LA.    The Jane

Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering

Bulk Carrier Trends

Star Bulk Takes Delivery of First Capesize from JMU

Athens, Greece-headquartered Star Bulk Carriers says it has taken delivery of 'M/V Peloreus' a 182,000 dwt Capesize built by Japan Marine United (“JMU”) and the

China Issues New Rules on US DDG Imports

China's Import Inspection Authority, AQSIQ, is now requiring U.S. distiller's dried grains imports to be officially certified free of the MIR 162 GMO trait, the U.

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

 
 
Maritime Standards Naval Architecture Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.0976 sec (10 req/sec)