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February 23, 2018

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Dirty Tankers West of Suez Commentary

New York (Platts)--06Dec17/0745 pm EST/ 0045 GMT

Dirty freight rates west of Suez were flat Wednesday, with little activity heard reported from European or West African waters. VLCC rates have come under pressure with few reported fixtures in the Persian Gulf and practically nothing for West African loading. The WAF-East route, basis 260,000 mt, was unchanged at Worldscale 57.5 but remained largely untested, with the last vessel said to have gone on subjects several days ago at w61. Suezmaxes may see rates come under pressure again as last week's increased activity in West Africa has now all but died out, and one broker said the WAF-UK Continent route, assessed at w90, might come under pressure from charterers while owners were holding firm at that level. Among notable Suezmax fixtures, the Red Moon was said by sources to be on subjects to Litasco for a 135,000 mt cargo loading in the CPC terminal in the Black Sea for a UK Continent or Mediterranean discharge at w95. The Black Sea-Med route, basis 135,000 mt, dropped w2.5 to w95. Aframaxes had another slow day but rates for 80,000 mt cross-UKC cargoes have seen some increased interest and rates may be set to rise before the weekend, brokers said. The rate was assessed unchanged at w95 on Wednesday.


Trends

Cross Med AFRA 80kt


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