Tanker Rates Near Bottom

Wednesday, December 20, 2000
Tanker rates in the Caribbean have been free-falling all week, but the bottom is looming closer, brokers say. "They're about W307 today, but they're starting to firm up" said a U.S. broker. At the end of last week, Exxon fixed the Amazon Eagle for a Gulf-bound 70,000 ton cargo from the Caribbean at W400. But Wednesday fixture-lists show Exxon fixing the same sized tankers for the same route at W307. "At the start of the week Exxon quoted one cargo and got 11 offers, so they brought the market back down to W332.5. They ended up fixing four ships at that rate," said the broker. Shortly thereafter another ship was fixed at W325, said the broker and then Fina fixed the Clyde Spirit at W317. The most recent fixture on the route, which was by Exxon at W307, is not truly representative however, as it was an OBO - a type of ship that typically trades at a small discount to other tankers. On the other side of the Atlantic, similar sized ships were moving swiftly ahead, having gained 20 points yesterday on the strength of new stems.

Maritime Today


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

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

Tanker Trends

Blacklisted Oil Tanker Returning to Libya

An Indian-flagged oil tanker is returning to Libya, the North African country's rival oil corporation said on Thursday, after its failed first attempt to export

India Instructs Disputed Tanker to Await UN Orders

India has instructed an Indian-flagged oil tanker that has been blacklisted by the U.N. not to discharge its cargo of crude oil from Libya's rival eastern government

Argentina Crude Exports Poised to Hit Record

Argentina's oil producers have shipped record volumes of crude this month, spurred by a new government subsidy that has also prompted state-owned oil company YPF

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Salvage Ship Repair 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: 0.0463 sec (22 req/sec)