Rates in the ME Gulf for 270,000mt to China firmed 2.5 points to around WS 49.5/50 level. A shorter run to Singapore went at WS 48, and 280,000mt to US Gulf is steady at around WS 19 Cape/Cape. West Africa/China gained four points, with Unipec agreeing WS 50 for 260,000mt. US Gulf to Singapore has been fixed at $3.775 million.
Rates in the 135,000mt trade from Black Sea/Mediterranean have been steady around WS 97.5. Going east, Black Sea to WC India went at $1.9 million region, while Ningbo discharge paid $2.85 million. In the Mediterranean, Ceyhan to Vadinar was fixed at $1.93 million, and a short Sidi Kerir to Turkey trip was covered at WS 90 basis 135,000mt. West Africa rates came under downward pressure and after Petrogal agreed WS 79.5 for a short run to Portugal, Valero fixed at WS 72.5 for 130,000mt to Europe. However, rates look to be marginally firmer again, with Petroineos reported subsequently to have paid WS 75.
A disappointing week for owners in the Mediterranean saw the market lose around WS 45 points, with Ceyhan to Med now fixed at WS 115, while Black Sea load went at WS 120. In the North, rates weakened around five points with 100,000mt from Baltic now paying around WS 85, while 80,000mt cross North Sea eased from WS 110 to closer to WS 105.
Steady enquiry in the 70,000mt Caribbean and EC Mexico/upcoast market initially maintained at WS 120 region, before moving up to mid/high WS 130s.
Rates for 55,000mt from ARA or Skikda to US Gulf were unchanged at WS 102.5/105 level.
A positive week for owners saw rates for 75,000mt from ME Gulf to Japan gain 20 points to WS 117.5, LR1s firmed five points to WS 120 for 55,000mt to Japan.
An abundance of tonnage in the 37,000mt Cont/USAC trade saw rates tumble 25 points to WS 120. While in the 38,000mt backhaul trade the market lost almost 5 points to sit now in low/mid WS 70s.
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