Tanker Report – The Baltic Briefing

29 May 2020

Tanker report – Week 22

VLCC

Improved volumes have tightened the supply of vessels, enabling owners to regain some of the recent lost ground.

22 May 2020

Tanker report – Week 21

VLCC

There has again been a good volume of fixtures in all areas this week, with charterers able to capitalize on weakening sentiment.

15 May 2020

Tanker report – Week 20

VLCC

There has been a good volume of fixtures in the Middle East Gulf as charterers worked towards covering the balance of May cargoes.

1 May 2020

A quieter week in both Middle East and Atlantic regions has allowed charterers to regain control as tonnage availability increases, with the longer-term effects awaited of OPEC+ cuts, storage period charters and a fragile oil price alongside the shorter-term issues brought about by Ramadan and the various national holidays.

24 April 2020

Tanker report – Week 17

VLCC

The week got off to a slow start, then on Tuesday activity ramped up with an influx of cargoes causing rates to rocket upwards.

17 April 2020

Tanker report – Week 16

VLCC

Activity in the Middle East has slowed while owners await the May program.

3 April 2020

Tanker report – Week 14

VLCC

Activity in the Middle East continued apace with owners firmly in the driving seat.

27 March 2020

Tanker report – Week 13

VLCC

Activity in the Middle East picked up this week and rates initially fell.

20 March 2020

Tanker report – Week 12

VLCC

After the Saudis lifted subjects on nearly all their VLCC in-charters last week, there seemed to be an activity vacuum, with only a few other fixtures being concluded, whilst charterers waited for the natural gravity effect of sentiment driven rises.

13 March 2020

Tanker report – Week 11

VLCC

A week ago in the Middle East, the Saudis lowered their April crude Official Selling Price (OSP) and raised production levels by 2.6 million barrels per day (BPD), to 12.7m BPD, with an additional one million BPD coming from the United Arab Emirates.

6 March 2020

Tanker report – Week 10

VLCC

The Middle East market was static over the course of the last week, with rates for 270,000mt to China holding at WS 49.

28 February 2020

Tanker report – Week 9

VLCC

Despite the concerns and uncertainties linked to the Coronavirus outbreak, the Middle East market made some slight gains as cargoes in the first half of March had fewer competing owners.

21 February 2020

Tanker report – Week 8

VLCC

The market in the Middle East was again static, with the uncertainties caused by the ongoing effect of Coronavirus.

14 February 2020

Tanker report – Week 7

VLCC

The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coronavirus and the return of the previously sanctioned Cosco tonnage.

7 February 2020

Tanker report – Week 6

VLCC

The market in the Middle East dropped further this week, with the deepening impact of the coronavirus outbreak on oil demand from China keeping activity low.

31 January 2020

Tanker report – Week 5

VLCC

The market in the Middle East tumbled this week, with most of the blame laying with the Chinese New Year holiday and the outbreak of the Coronavirus.

24 January 2020

Tanker report – Week 4

VLCC

A busier week in the Middle East Gulf led to a slight softening of rates overall.

17 January 2020

Tanker report – Week 3

VLCC

A quieter week in the Middle East, alongside falling bunker prices has left owners unable to maintain rate levels.