Marine Link
Tuesday, September 27, 2016

Clean Tanker Rates Tank

February 23, 2001

Rates for clean tankers in the Caribbean have dropped by nearly a quarter in the last 10 days, falling below the W300 mark for the first time since last July. London's Baltic Exchange closed Thursday with its assessment of the route pegged at W293 for 30,000 ton cargoes to New York. It put transatlantic 30,000 ton cargoes at W304, 19 percent down on 10 days ago. U.S. brokers said the decline stemmed entirely from the closure of the Atlantic arbitrages for gasoline and gasoil, and that tankers were piling up on the U.S. Atlantic coast with very few cargoes to carry. But brokers in London remained upbeat. "It's not all that bad," said one, adding that 30,000 ton Caribs upcoast cargoes of naphtha were still being fixed at around W350 and other clean cargoes at around W310. Caribbean clean tanker rates peaked in December at over W440 for 30,000 ton cargoes while transatlantic clean tanker rates peaked at the same time at W480. - (Reuters)


Maritime Reporter Magazine Cover Sep 2016 - Maritime & Ship Security

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News