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February 23, 2018

Tankers

Markets

Dirty Tankers East of Suez Commentary

New York (Platts)--07Dec17/0745 pm EST/ 0045 GMT

Lower fixture rates on both East and West-bound voyages for Asian VLCC tankers weighed on sentiment Thursday, market sources said. The lackluster demand was building up tonnage, sources said. "There were very few contract of affreightment vessels used by the Chinese charterers this month, so those will go into the spot market for January, and there was a cut in the Basrah volumes this month," said a charterer. In fixtures, Thai Oil was heard to have received 13 offers for its cargo the previous night, and placed the Sea Leopard on subjects for a PG-Thailand voyage, loading December 22-24, at w51 basis 270,000 mt. Also heard was Unipec taking the Athina II on a replacement job for a PG-China voyage, loading December 21-23, at w54 basis 270,000 mt. The key VLCC PG-Japan rate was assessed down w1.5 day on day at w53 basis 265,000 mt Thursday. Asian Suezmax tankers saw sentiment stay firm on market strength in the West Africa region, sources said. The Suezmax PG-East rate was assessed up w1 day on day at w90 basis 130,000 mt and the PG-UKC rate assessed flat at w45 basis 130,000 mt Thursday. Fresh activity in the Asian Aframax tanker segment saw rates firm for voyages involving Australia, sources said. Overall chartering activity remained muted, and tonnage was long, market participants said. In fixtures heard, Shell placed the Sulu Sea on subjects for a Labuan-Whangarei voyage, loading December 11-13, at w110 basis 80,000 mt. PTT was heard to have placed the Leyla K on subjects for a Montara-Thailand voyage, loading December 16-18, at w110 basis 80,000 mt. The key Aframax Indonesia-Japan voyage was assessed up w0.5 day on day at w98.5 basis 80,000 mt Thursday and the Aframax PG-East rate assessed flat over the same period at w103 basis 80,000 mt.


Trends

Persian Gulf-Japan VLCC 265kt


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Cross Med AFRA 80ktArab Gulf-Japan 55kt

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