Clean East | Positions look tighter on the LR2s, which means we have seen the bottom for this class. Activity on the LR1s is still muted and tonnage is ample. No changes on the MRs in the AG region. Tonnage is still long and sentiment is weak. In the Straits region, sentiment is also become weaker due to the lack of activity in Singapore. North is the only sector which is stable for the moment.
Clean East | East of Suez continues to be soft especially in the AG region. Not much change since yesterday. Singapore side is also slow on activity. North region is picking up again with cargoes heard coming out for middle of July.
Clean East | East of Suez continues to be soft. Rumors that 75,000 x WS 78 is on subs AG/Japan - the first known fixture to have broken the WS 80 mark. LR1s remain quiet and it will make more economic sense to fix on the LR2s. MRs in the AG are also soft with ample tonnage.
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Much has been said about the product tanker market, mainly about tonnage supply. More industry voices are speaking about their concern of over-ordering and too many ships. However, the number of vessels on order and planned for delievery is really only half of the story. As long as there is enough demand, any number of ships on order may be acceptable. Concern about oversupply only occurs when there are too many ships relative to demand.
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Clean East | The East of Suez market has started on a weak note for LR2s. It's rumored a ship was taken at WS 77.5 on the TC1 route. LR1s may continue their soft trend due to a long tonnage list. MRs are also seeing a long list and rates are under pressure for this tanker class as well. The Southeast market seems to be softening as well due to weak sentiment in the AG.
Clean East | Sentiment in the AG market is still weak as we continue to see low rates. MRs are rumored to be doing around US $200,000 for cross-AG runs and rates will likely trend lower in the coming week due to the long list of ships.
Clean East | The AG region continues to be depressed due to a long tonnage list. Sentiment is weak and there are quite a number of prompt MRs in the AG region. Singapore looks stable, but might be affected by the weak AG market. The North is still busy and we are hearing one or two cargoes are still uncovered for early-July loadnig basis South Korea.
Over the past few years we have seen a significant divergence in the historical correlation of VLCC scrap prices and daily hire earnings, which prompted us to take a closer look at what might be causing the differential. We believe that one explanation can be found on the demand side of the equation, specifically the increase in US Shale oil production. Using a regression analysis, we looked to quantify the relationship of the level of US crude oil imports and VLCC earnings and found a strong correlation which indicated a positive relationship between the two variables.
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Clean East | The AG region continues to be weak on all sizes, the tonnage list is long especially on the MRs. There are cargoes around but not enough to support the long list of vessels. Singapore and the Far East continues to be stable.
VLCC | Requirements for July dates are appearing in the AG, as the number of June liftings have barely exceeded 100 fixtures. There are a few requirements in the Atlantic Basin, as West Africa looks to relatively busy in the VLCC sector.
VLCC | The market seems to be taking a rest this Friday after a recent rate rise. There are a few early July cargoes that are being talked about in the AG. In the West, it is relatively quiet as well.
VLCC | The AG market has gone a little quiet as charterers ponder next moves against rising rates. West Africa is the active alternative with several cargoes showing.
VLCC | Worldscale levels appear to have steadied in the AG and West Africa, after an early-week surge. Owners will be looking to regain momentum, but the requirements list is thinning.
VLCC | Rates are firming in the AG as the position list tightens and some owners look at ballasting toward West Africa for East-bound cargoes. The price gap between Brent and WTI is at its narrowest in months which may open the arb for UKC to East liftings.
VLCC | Worldscale levels for eastbound trades from both the AG and West Africa are firming as the position list tightens, westbound routes have been slower to react.
VLCC | WTI prices dipped yesterday as U.S. crude and gasoline stockpiles increased, Brent also fell ahead of a European Central Bank meeting.
VLCC | We are seeing an active start to the third decade of June, and owners are hoping to finally see rates move higher. Additionally, some charterers are showing their early July stems from West Africa which is attracting ballast candidates. The UK and USG are still inactive.
VLCC | There is plenty of fresh enquiry in the AG, but rates will not likely improve as too many ships are in position. In the West, we have only seen activity in West Africa, which is not enough to sustain current rates in the longer term.
VLCC | Worldscale levels reamain steady within the Market. Asian Charterers have been busy ahead of holidays in the Far East.
New York – 2 June 2014 – McQuilling Partners, Inc. is pleased to announce that we have reached an agreement with Seaways Shipping and Logistics Limited (SSLL) resulting in the establishment of Seaways McQuilling Private Limited.
Through offices located in Mumbai and New Delhi, the core business of the company will be to provide tanker, dry bulk, chemical and offshore brokerage services, as well as research and logistics consultancy within India and its related markets.
McQuilling Partners and its companies delivers over forty years of international marine transportation services and consultancy experience to Seaways McQuilling Private Limited, while Seaways provides over two ...
