VLCC Rates

Friday, January 26, 2001
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment," said one London tanker broker. Wednesday's fixture lists showed a number of deals hovering around the W100 mark, and even the very modern New Circassia accepted W101 from Stasco for an eastbound trip. Friday's fixture list however, showed the slightly older Musashi Spirit had been fixed at W90 to Japan, while the two-year old Golden Victory had accepted W92.5 for a similar voyage. London's Baltic Exchange closed Thursday night with its assessment of VLCC freight from the Mideast Gulf to Japan down 1.7 points to W91.4. The assessment is 11 points down on that of last Friday. Brokers said that changes to the Worldscale rate mechanism at the start of 2001 cut the figures by 20 percent across the board, and this accounts for much of the difference between Friday's fixtures and last year's market peak in November. In November, VLCC freight topped W200 with Pertamina's fixture of the C.Navigator for a 245,500 ton cargo going East at W205, the highest rate for a VLCC since the early seventies. But brokers pointed out at the time that the deal was a one-off and was about 20 points above the market rate at the time because the cargo was so small. -- (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

Top 10 Shipowning Nations by Value

VesselsValue has provided a list ranking the top shipowning nations by value, including the percentage change difference against 2015 figures. Although the

2016 a Busy Year for VLCC Deliveries - BIMCO

When it comes to delivering brand new VLCCs from shipyards in South Korea and China to owners and investor across the globe, 2016 is off to a flying start. Six

U.S. Okays ConocoPhillips Alaska LNG Exports

The U.S. Department of Energy approved ConocoPhillips' application to export about 40 billion cubic feet of natural gas from its Kenai liquefied natural gas export

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Repair 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: 0.0645 sec (15 req/sec)