We are pleased to announce McQuilling Dubai is the proud recipient of the "Marine Broker of the Year" award, which was presented to the group at the 2016 Maritime Standard Awards in Dubai on October 24.
VLCC Freight Rates Make a Move
Oct. 14, 2016
VLCC owners are benefiting from the recent uptick in spot rates as export activity out of the Arabian Gulf and West Africa has increased. Back-to-back weeks of strong demand have opened fixing opportunities and helped absorb excess tonnage, creating positive sentiment as the winter season ramps up.
Increased Arabian Gulf volumes led to a surge in fixing during the last week of September and first week of October with 88 reported fixtures, almost double the activity seen in the two weeks prior. Lower activity to the East was initially expected by some market players, given the Chinese Golden Week beginning ...
Weekly Tanker Summary
Oct. 7, 2016
The following is an overview of tanker spot market activity for the week ending October 7, 2016
On the back of steady volume out of the AG, rates on the AG/East trade rose from the WS 40s to the mid-high WS 50s. AG/West was quiet and one vessel that was fixed at WS 27, ultimately failed. At current bunker levels, the TCE for a voyage AG/East is about US $43,000/day basis WS 57.5, while the TCE for a cargo AG/West followed by Caribbean/Singapore traded around US $35,000/day.