27-06-2017

First Suezmax for July fixed on Europe-Asia high sulfur fuel oil arbitrage route

Suezmax

A first Suezmax vessel for July has been booked to take HSFO from Europe to Asia, and a second fixture is expected soon, according to sources.

The Cape Brindisi Suezmax was booked by Azerbaijan’s Socar to load 130,000 mt from Rotterdam on July 8 to head to Singapore, for a lump-sum freight rate of $1.85 million, according to a shipping report.

Socar was not available to comment.

The Cape Brindisi is currently just off the Azores heading towards Bilbao in Spain and then on to Rotterdam, according to S&P Global Platts’ trade flow software cFlow.

Singapore is expected to receive less arbitrage volumes in July — estimated at between 3 million and 4 million mt in total, compared with estimates of more than 5 million mt for June.

The spread between FOB Rotterdam barges and FOB Singapore cargoes has traded just above the $10/mt mark for most of this week, squeezing margins for traders looking to take volumes East.

Source: Platts 

Previous Next
 

In Conversation With Mr. Pradeep Rawat, Chairman National Shipping Board

View More Videos


Gallery

ISMS2017

View All Albums