Clean Tanker Markets Quiet

Caribbean business proved the high spot in a quiet but slightly improved clean tanker market, brokers said on Friday, September 17. Renewed activity in the Caribbean markets pushed 30,000 ton cargo rates to the U.S. Atlantic Coast up by around 10 points to W185-190 by the end of the week, brokers said. One U.S. broker pointed to rates pushing over W200 early next week. The two hurricanes hitting the U.S. East coast were partially responsible for the rise, brokers said. Transatlantic rates also moved up to W165-170 for 33,000 tons, E.A. Gibsons said in its weekly report. They had risen from about W160. Long range 75,000 ton Middle East to Japan rates also inched ahead as predicted on thinner availability of tonnage. Rates rose to W125 from W120. Brokers also reported other signs of life in the Mideast market with 40,000 tonners to India pushing up to about W160 levels and Mediterranean voyages arranged at as much as $550,000 for 35,000 tons. In the Mediterranean itself, though, business was quiet with gas oil rates holding at W130 for cross voyages and W140 for U.K./Continent discharge.