After two short weeks, rates have come under pressure with the market for 270,000 tonnes from Middle East Gulf to China losing 1/1.5 points to WS 45/45.5 region. SK reportedly fixed to South Korea at about WS 42. Going west, it is a similar story, as P66 covered 280,000 tonnes to US Gulf at WS 20 cape/cape. West Africa/China runs have been steady at around WS 45 for 260,000 tonnes. Occidental fixed a US Gulf/Singapore run at $3.3 million.
An uneventful week has seen rates settle at WS 55 for 130,000 tonnes from West Africa to UK-Continent, while the Black Sea market has been hovering around WS 77.5 for 135,000 tonnes. In the Med, Algeria to Singapore was fixed at $2.0 million. Es Sider to Ningbo went at $2.5 million, while a Sidi Kerir/Canaport run fixed at WS 53.75, basis 135,000 tonnes.
Plenty of both ice and non-ice class tonnage saw rates ease in the North. Baltic rates for 100,000 tonnes fell from low WS 70s to WS 67.5, although there is talk of possibly WS 65 having now been agreed on subjects. The 80,000 tonnes cross North Sea market was steady at WS 90. In the 80,000 tonnes cross-Med market charterers have been spoilt for choice and rates have been hovering in the mid/high WS 70s. There was even a Black Sea/Med run fixed at WS 75, although subsequently WS 80 has been agreed here.
The 70,000 tonnes Caribbean/upcoast market has been steady in the mid WS 90s.
Rates for 55,000 tonnes from ARA or Skikda to US Gulf remain under pressure, with the market hovering at or close to WS 100 level.
The LR2 market for 75,000 tonnes from Middle East Gulf to Japan lost 5/7.5 WS points and is now back in the very high WS 90s. LR1s followed suit and eased from pre-Easter levels of WS 117.5/120 to sit now at closer to WS 112.5 region.
Another short week saw rates in the 37,000 tonnes Cont/USAC trade slip to WS 107.5 region, and there was talk of even WS 105 having been concluded here. In the 38,000 tonnes backhaul trade, the market eased around 15 points to low WS 80s.
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