Market Bulletin

 

Very soft market. Plenty of tonnage and earnings for AG-far east is now down to just cover the opex cost. Everyone believes this is the bottom. Owners holding out for ws 70 now.

Route WS-Rate Change USD/Day Trend
1. AG - Korea 65 -22 9700 2. WAF - USG 85 -30 31000

Believe that we've bottomed here. Expect rates to creep back up at a modest pace with the BTC pipeline repairs completed an normal ops to resume by Monday- this along with the surging Afra market should help ease the owners pain.

 

 

The BTC pipeline issue in Ceyhan continues to drive the rates in the Med down sending owners scrambling to Waf for biz. Expect rates to remain flat/soft until the pipeline repairs are completed and the overhang tonnage clears out.  

 

Route WS-Rate Change USD/Day Trend
1. WAF - AC 135 -5 31,000

1,2 NSEA-UKC - With end month cargoes appearing, a long weekend in London and a firm Med Market the North Sea shot up. We expect rates to fall next week as end month has been and gone.

3. Baltic - UKC (no ice)- Same as North Sea

4 Cross Med -  Wtih the BTC pipline due to start pumping this weekend, cargoes appeared for end August dates causing rates to rise significantly.

5 Far East - Triggered by the soft VLCC market, Aframax market for AG/East continue to slide further south even with decent chartering activities. Latest fixture for fuel oil run on a d/h is ws190. Unless more cargoes emerge, the sentiment will likely remain weak and the rate could decline further.

Route WS-Rate Change USD/Day Trend
1. NSEA - UKC 230 +65 76,000 2. Baltic - UKC (no ice) 200 +40 65,000 3. Baltic -UKC (ice class) N/A N/A N/A 4. Cross Med 230 +105 51,000 5. AG - SPORE 190 -20 22000

1. CARIBS - Rates remained relatively flat this week even as Afra's took a plunge. Owners doing a good job of keeping bullish sentiment given the lack of activity we've seen this week. With a few August ships left to fix look for rates to soften slightly.

3. FAR EAST- Market remains quiet with little activities for Indo/North.  However , fuel oil runs in the North are picking up especially with the Chinese charterers. Hopefully, it could help to push the market up 

Route WS-Rate Change USD/Day Trend
1. CARIBS-USG/USAC 275 -5 27,000 2.INDO-JAPAN/KOREA 220 -67.5 24,000

1. North Sea - dty - Market has recovered a bit since last week fall. Healthy poslist and cargo enquiries will make it raise further.

2. Caribs - Market 290-295, usg cargoes are hot going south and TA.

3. Rotterdam-New York - Lots of fixing and failing this week. Dates been pushed back to early sep and a couple of vessel are left in the cold. Tonnage list is short and if enquires is heavy early sep, market will move up. Trend just now is down though. 

 

Route WS-Rate Change USD/Day Trend
1. NSEA & X-UKC (dirty) 285 +15 20500 2. S.America - USG (clean) 300 0 23000 3. UKC - USAC (clean) 325 -15 25500

BUNKER ESTIMATES.

Port   Change USD/MT Trend
Fujairah -13 675 Rotterdam +22 624 Singapore +10 675