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February 23, 2018

Tankers

Markets

Dirty Tankers East of Suez Commentary

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

Lack of fresh cargoes for the current fixing window continued to dampen the trading sentiment in the Asian VLCC market, market sources said mid-week. In fixtures heard, Unipec placed the Nautic on subjects for a PG-China voyage, loading December 21-23, at w54 basis 270,000 mt. Unipec was also heard to have placed an Ocean Tankers vessel on subjects for a similar voyage and dates, at w57 basis 270,000 mt. The key VLCC PG-Japan rate was assessed flat at w54.5 basis 265,000 mt Tuesday. The recent pickup in the West Africa markets kept owner sentiment firm in the Asian Suezmax markets, market sources said. The Suezmax PG-East rate was assessed flat at w89 basis 130,000 mt, and the PG-UKC rate was assessed up w2 to w45 basis 130,000 mt Wednesday. Sluggish demand and long vessel supply was seen on the Asian Aframax markets; however, owners were heard resisting voyages such as Indonesia-Australia or Australia-North Asia due to poor earnings. Owners were heard holding out at the w110-112.5 level for Australia-North Asia voyages, and sources said that charterers were struggling to cover Indonesia-Australia voyages. Market sources said that owners preferred short-haul voyages because of the poor returns in the face of high bunker costs. The key Aframax Indonesia-Japan voyage was assessed up w0.5 to w97.5 basis 80,000 mt, and the Aframax PG-East rate was assessed flat at at w103 basis 80,000 mt Wednesday.


Trends

Persian Gulf-Japan VLCC 265kt


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Other Tankers Charts

Cross Med AFRA 80ktArab Gulf-Japan 55kt

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