Dec. 21, 2016
Rates on TD9 (Carib/US Gulf) traded up from WS 130 to an initial plateau of WS 170 throughout yesterday as the position list for December dates in the Caribbean remains tight. With around 50% of the tonnage removed from the Caribbean, rates were expected to find some support this week; however, today’s surge to WS 200 was exacerbated by weather delays in the region. High winds in the US Gulf have interrupted lightering programs causing tanker delays and pushing charterers to seek out replacement vessels. Owners positioned in the Caribbean took advantage of the delays, pushing rates to a new height for the year. The TCE on this trade rose to US $45,769/day; however, we expect rates to normalize by early next week as the weather situation improves.
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