Mideast Crude Tanker Earnings Slip, Ukraine Watched
Crude oil tanker earnings on the major Middle East route fell on Tuesday as a build up of vessels available for hire weighed on rate sentiment. Shipping markets continued to monitor developments in Ukraine after Russia sent military forces into the Crimea region of southern Ukraine. Russian President Vladimir Putin said Moscow would only use military force in Ukraine as a last resort. A U.S. official said it was ready to impose economic sanctions on Russia. The world's benchmark VLCC export route from the Middle East Gulf (MEG) to Japan reached W50.73 in the Worldscale measure of freight rates, or $25,765 a day when translated into average earnings. That compared with W51.33 or $27,219 a day on Monday and W55.05 or $32,176 a day last Tuesday.
Clarkson's Maritime Market Analyst Wins Medal
Clarkson Capital Markets (CCM) equity analyst, Urs Dur, winds silver medal for being one of the industry's top stock tipsters. The award was in the marine category in this year's Thompson Reuter's annual 'StarMine Analyst Awards' which are issued in collaboration with the 'Financial Times'. Clarkson Capital Markets (CCM) is the investment banking arm of Clarkson PLC, focussed on the global maritime, energy and natural resources sectors.