VLCC | At the end of the week the AG market remains down and out. Vessels that have to deliver for sale, or are ex-drydock, or under new ownership, or a newbuilding… always seem to be there to cover the cargoes. Activity was somewhat present this week, but rates declined because of vessels of circumstance.
Clean East | MRs in the AG region continues to be firm as TC12 is calling around W117 levels. We are seeing cross AG cargoes done at above US $300,000 levels and the positions are tight until the middle of June. LR1s are holding steady on a tight position list, while LR2s are a bit weaker.
VLCC | Inquiry continues to come to the market but rates have remained flat. Over the past two days we have seen 13 vessels fix in the AG, you would think activity would cause some resistance, but so far rates are flat.
VLCC | After a long weekend in the US and London, we come back this morning with six outstanding cargoes working in the AG market. Owners are asking themselves is this enough activity to push the market up off the bottom? Only time will tell, but so far June has been slow, so we might see some more activity to in the first half of June.
VLCC | The market is quiet today after a relatively busy week. The Atlantic Basin was especially active and rates have remained steady
VLCC | Rates are steady as more June requirements come into the market. There continues to be a backlog of tonnage that needs to be worked through before rates can rise and it is back to a basic question of oversupply.
VLCC | The market is maintaining lower levels, as charterers are trading June stems. With May trading done, January remains the only month that did not exceed 2013 fixtures.
VLCC | We have seen a slow start to June chartering in the AG, but some stems for the first 7 days are being worked. Rate levels are under some upward pressure as owners try to get TCE levels up to OPEX levels or higher.
VLCC | Worldscale levels ex-AG are at the lowest level of 2014 so far. There is little activity at the moment and charterers have been slow to enter the market.
VLCC | Rates have slipped below covering Operating Expenses despite an increase in the end of May cargo liftings. The overhang of tonnage into June will weigh on rates going forward.
VLCC | There is someone downward pressure in the AG as new requirements are opening in the region. The Atlantic basin has been quiet this week.
VLCC | Fresh enquiry has entered the AG market, as May loadings have exceeded 100 fixtures. West Africa remains flat, as most cargoes have been taken on suezmaxes.
VLCC | The market reamins quiet as there has been little fresh enquiry since last week. Rates remain steady, but downward pressure is to be expected as the position list grows.
VLCC | Rates in the AG remain steady despite a low volume month. In West Africa, rates are trading at the bottom of the current range with many cargoes being covered by tonnage coming from the West.
VLCC | The market is mostly quiet today, as some tonnage is being taken in the AG. TD3 rates continue to decline, while charterers have been unsuccessfully trying to break the w/s40 mark for TD15.
VLCC | Rates in West Africa have not changed significantly in a week, while the AG continues to weaken. This dynamic is likely due to an increase in Suezmax requirements in the Atlantic basin.
(New York – 8 May 2014) – McQuilling Services commercial director Mr. David Saginaw presented a tanker market outlook at the INTERTANKO Council Meeting on Wednesday, 7 May, 2014 prior to the start of the New York 2014 INTERTANKO General Session on Wednesday. This year’s INTERTANKO theme is: Sustainability – Moving the Story On.
Mr. Saginaw spoke for about 30 minutes to the council, comprised of leading international tanker owners and operators, on the main features of the tanker market today and implications for the future. The global economy appears to finally be on the road to a solid expansionary phase, driven ...
VLCC | Worldscale levels are weakening in the AG. Rates ex-West Africa remain steady, as the suezmax market is seeing some activity.
VLCC | There has been a slight uptick of activity in the AG, but TCE levels remain steady at the moment. The Atlantic Basin is not seeing much movement and little has been fixed recently.
VLCC | Hoildays have slowed the markets, and rates are under downward pressure in the short term. Reports say Brent crude has risen to a six day high as the crisis in Ukraine threatens to disrupt Europe's energy supplies.
