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Tanker Market Rates Move Sideways

Rates were unchanged at WS 55 for 270,000mt from the Middle East Gulf to both China and Singapore, whilst for the US Gulf, Equinor paid WS 20 Suez/Suez for 280,000mt from Basrah. West Africa to China was up slightly, with Unipec paying WS 55, basis 260,000mt. US Gulf to South Korea went at $4.85 and subsequently 5.0 million.

West Africa was steady at WS 72.5 for 130,000mt to UK-Cont, and the Black Sea saw rates holding at WS 87.5 for 135,000mt, with South Korea paying $2.9/3.0 million. Petroineos fixed Algeria to Fos at WS 82.5 and ENI agreed WS 77.5 for Libya/UK-Cont, both on 130,000mt. UML reportedly paid $2.9 million for Ceyhan to Qingdao.

In the Mediterranean, rates eased 7.5 points. UML paid WS110 from Ceyhan, and the Black Sea fixed between WS 100/105, basis 80,000mt. Baltic rates gained 2.5 points to WS 75 for 100,000mt, while the 80,000mt cross-North Sea market rose to WS 107.5. The Aframax market in the Caribbean lost almost 20 points before rates for 70,000mt from Venezuela recovered slightly to WS145/150.

The ARA to US Gulf market was steady at WS 125 for 55,000mt.

In the 75,000mt Middle East Gulf to Japan trade, rates held in the very high WS 90s with 55,000mt fixed around WS 100 and WS 102.5. The 37,000mt Cont/USAC trade dropped 25 points to WS 120, while the 38,000mt backhaul firmed to the low WS 90s.

Source: The Baltic Briefing

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