Middle East Gulf rates for 270,000 tonnes going long east have remained steady in the low WS 70s while 280,000 tonnes to US Gulf was fixed at WS 28.5 cape/cape, although brokers feel there is potential upside. West Africa/China is maintained at around WS 71 and Indian charterers fixed equivalent WS 68.5 to EC India all basis 260,000 tonnes cargo. Fuel from Rotterdam to Singapore went at US$3.45 million whilst a Caribs/Singapore cargo is on subjects at US$4.35 million.
Limited enquiry in West Africa saw tonnage building and rates eased six points to WS 83.25 for 130,000 tonnes to Europe. Black Sea slipped 10 points to WS 92.5 for 135,000 tonnes to Mediterranean, with Korea fixed at US$2.95 million. Black Sea/US Gulf was fixed at WS 70 for 130,000 tonnes with WS 72.5 agreed for 135,000 tonnes from Ceyhan/Canaport.
A surfeit of tonnage in the Mediterranean saw rates for 80,000 tonnes lose a significant 40 points with a Sidi Kerir/Med covered at WS 90. Limited activity in the Baltic saw rates for 100,000 tonnes drop 12.5 points to WS 65 and remain under pressure. In the 80,000 tonnes cross North Sea trade rates followed suit, easing 15 points to WS 85 level.
A busier week in the 70,000 tonnes Caribbean/up coast saw early tonnage fixed away leading to a modest five-point rise to WS 100 before EC Mexico/US Gulf was subsequently covered at WS 115.
The market held at WS 115 for 55,000 tonnes from ARA and Skikda to US Gulf.
The market for 75,000 tonnes from Middle East Gulf /Japan was steady at WS 122.5 with 55,000 tonnes rising 2.5 points to WS 125.
Continent to USAC gained 10 points to WS 110 for 37,000 tonnes with potential for further increases. Rates for 38,000-tonnes from US Gulf to UKCont gained 37.5 points to WS 137.5.
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