Tanker Report – The Baltic Briefing

Although there were stratospheric rates seen on subjects last week, charterers did not lift subjects on a large proportion, thus regaining some control and forcing owners to kowtow.

11 October 2019

Tanker report – Week 41

VLCC

In the last few weeks we have mentioned huge market improvements.

4 October 2019

Tanker report – Week 40

VLCC

The markets made huge improvements, mainly due to the effects of an already tightening position list and the fallout from US sanctions on Cosco.

27 September 2019

Tanker report – Week 39

VLCC

With 10 days having passed since the Saudi oilfield attacks, the Middle East Gulf market had calmed, and rates dipped.

20 September 2019

The attack on Saudi Arabia led to volatile bunker prices and owners capitalised on this with Middle East Gulf rates for 280,000mt to US Gulf basis Cape to Cape now being rated up four points at WS 31 level, whilst 270,000mt to China gained around 15 points to WS 69 region.

13 September 2019

Tanker report – Week 37

VLCC

Middle East Gulf rates recovered slightly with 280,000mt to US Gulf, basis Cape to Cape now being rated up a point at WS 26/27 level.

6 September 2019

Tanker report – Week 36

VLCC

Rates in the Middle East Gulf fell this week, as 280,000mt to the US Gulf, basis Cape to Cape, is now assessed two points lower at WS 25.

30 August 2019

Tanker report – Week 35

VLCC

Middle East Gulf rates to Eastern destinations lost the five to six points gained a week ago, leaving 270,000mt to China at WS 60 level, whilst 280,000mt to US Gulf, basis Cape to Cape, eased two points to WS 28.

23 August 2019

Tanker report – Week 34

VLCC

Rates in the Middle East Gulf continued an upward trajectory, with 270,000mt to China at WS 66, up about five points and 280,000mt to the US Gulf, basis Cape/Cape, rated at WS 30, an increase of three points.

16 August 2019

Tanker report – Week 33

VLCC

Middle East Gulf rates initially eased, with rates for 270,000mt to China hovering around WS 52/54 region before WS 57 was agreed for ‘East’ discharge.

9 August 2019

Tanker report – Week 32

VLCC

Middle East Gulf rates improved significantly on the back of healthy enquiry and typhoons hitting the Far East.