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June 20, 2018

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Dirty Tankers West of Suez Commentary

New York (Platts)--08Mar18/0745 pm EST/ 0045 GMT

Aframax prices pushed up slightly in the Mediterranean due to a busy week of fixing, while Suezmaxes firmed in the Black Sea, sources said. The cross-Mediterranean Aframax route, basis 80,000 mt, was assessed at w85, w2.5 higher. UML was heard to have NS Captain on subjects at this level for a stem loading ex-Ceyhan with March 16-17 loading dates. The Mediterranean Aframax position list was very tight compared with last week. Some shipowners were putting in high offers on cargoes, but there remain a number of prompt vessels whose owners were keen to get their ships moving and prices have not pushed up much, sources said. The West Africa to UK Continent Suezmax route, basis 130,000 mt, was valued flat at w70. Charterers will start moving April stems soon but the April program is shorter than March and VLCCs have been busier in the April 1-10 window than last month, sources said. The Black Sea to Mediterranean Suezmax route, basis 135,000 mt, was assessed at w80, w2.5 higher. Charterers are now working end-month cargoes ex-CPC and tonnage is tight in the Eastern Mediterranean, with 60 ships available against a three month average of 67 vessels, shipbroking sources said. The Baltic to UK Continent Handysize route, basis 30,000 mt, was assessed at w162.5. w7.5 lower. Northwest Europe has been very inactive this last week and the tonnage list has been allowed to grow again, which has put pressure back on shipowners to accept lower prices, sources said. The VLCC route from WAF to China, basis 260,000 mt, was assessed at w37, w0.5 lower. BP was heard to have Eagle Venice on subjects at this level for a stem with April 10-13 loading dates. There is very little cargo on offer in either the Caribbean or the North Sea, and shipowners in West Africa are left with few options, sources said.


Trends

Cross Med AFRA 80kt


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