Reduced enquiry in the Middle East Gulf saw rates for 270,000 tonnes going long east ease modestly to WS 70. While going west, 280,000 tonnes cape/cape to US Gulf is assessed one point lower at WS 27.5. West Africa/China is down 2.5 points to around WS 71.5. Caribs/WC India was fixed at $4.2 million. Shell and ST fixed Hound Point to Korea at US$5.3/5.4 million respectively, while Arzew/Korea went at US$4.75 million.
A quieter spell in West Africa saw rates for 130,000 tonnes to Europe ease five points to WS 95 with USAC fixed at WS 92.5. Black Sea rates for 135,000 tonnes to Mediterranean held at WS 105 while Ceyhan/Canaport went at WS 75 and UKC-Med was fixed at WS 100-105 all basis 135,000 tonnes cargo size.
A volatile week in the Mediterranean saw rates for 80,000 tonnes lose 30 points to WS 125 before recovering in to WS 137.5/140 region with owners eyeing a heavy Black Sea program for third decade November. Limited activity in the Baltic saw rates for 100,000 tonnes drop to WS 77.5, down 22.5 points. In the 80,000 tonnes cross North Sea trade, rates followed suit easing 17.5 points to WS 100 level.
Plenty of early tonnage saw rates in the 70,000 tonnes Caribbean/up coast trade fall 15 points to WS 95.
The market softened to WS 115 for 55,000 tonnes from ARA and Skikda to US Gulf.
It has been a better week for owners of both LR1 and LR2 tonnage, with rates firming in to the low WS 120s basis both 55,000 and 75,000 tonnes for Middle East Gulf/ Japan.
Continent to USAC fell five points to WS 100 for 37,000 tonnes while rates for 38,000-tonnes from US Gulf to UKCont gained 20 points to WS 100.
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