Vlcc tanker rates. Feb 10, 2000 · Frank A Shrontz VLCC Tanker.

Handy Charter Rates • Handy open Continent to East Coast South America (ECSA) fixed around $7,500 • Handy open Continent to East Coast North America (ECNA) fixed around $10,500 • Handy open East Coast South America (ECSA) to Continent fixed around $17,500 • Handy open US Gulf (USG) to Continent fixed around $17,500 • Handy open North Feb 23, 2024 · VLCC rates hit a nine-month high earlier this week but quickly lost steam, with Clarksons’ fleet weighted average crashing more than $20,000 to finish the week at $54,400 per day — roughly Dirty tanker rates are in a well-documented and, for owners, tiring slump that leaves earnings levels well below their peaks seen almost five years ago now. Rates for clean tankers are also lower. Despite the high rate of contracting, the orderbook-to-fleet ratio for VLCCs remained at just 4. 5 region Sep 7, 2022 · The Platts benchmark VLCC freight rate for Middle East Gulf to China (270,000 mt of crude) has been assessed near w80, or $16. Mar 16, 2020 · The tanker shipping market has enjoyed an unexpectedly strong week, VLCC rates on the benchmark AG-Far East route went from $30,000 a day to $210,000 a day, a 600% increase. Current spot rates for USGC VLCCs are 60. Photo: Okeanis Eco Tankers VLCC rates ‘skyrocket 3 days ago · VLCC player Prima Marine buoyed by storage demand and surging tanker rates Published 20 August 2024 7:40 GMT Tankers d’Amico International scores discount with purchase of chartered product compass maritime tanker values asset class nb contract nb prompt 5 year 10 year 20 year delivery tankers size (dwt) (all numbers in us $ millions) vlcc 300,000 95120 125 72 45 suezmax 80160,000 80 6 50 28 aframax 6115,000 5 70 60 45 2 panamax - lr1 70,000 50 55 4 35 16 mr tanker 451,000 5 45 40 30 15 Source: OPEC Annual Statistical Bulletin 2024. VLCC Benchmark Values. The data includes a headline index – the FBX Global Container Index – a weighted average of the 12 underlying tradelanes. The largest, most common tanker today is a Very Large Crude Carrier (VLCC), typically measuring around 300,000 dwt1. sanctions on Chinese tanker owner Cosco. VLCC rates continued their upward climb this week with the 270,000mt Middle East Gulf/China route gaining 4. 2%. Suezmax rates Oct 19, 2023 · The Baltic Exchange’s VLCC time charter equivalent tracker, which generally trends below the rates of brokers, fell by more than $7,000 on Thursday to $13,898 per day. 2 days ago · Oops, Something went wrong! Sorry, we can not find the report for this date Trusted data for tankers. "But as there are few [newbuild] ships coming next year, we're confident rates will be higher," the broker added. Access up-to-date coverage of global tankers markets - including news, data, and analysis. The figure was $56,700 for suezmaxes. 270,000mt Middle East Gulf/China rates improved by three points to the WS61. Tankers International sounds Jan 20, 2022 · This inevitably pushed crude tanker freight rates in the doldrums. Jun 9, 2017 · VLCC rates on the Middle East-to-Japan route rose to W51 on Thursday from around W49 a week earlier. 1% lower from the average spot rate in December 2019. That marks a 9% gain 5 days ago · Okeanis Tankers has demonstrated great profitability and trades at an attractive valuation of 8. Three grades of oil can be handled simultaneously through a two-valve segregation arrangement. Feb 4, 2022 · If the average investor actually demanded shares of oil tanker companies, EURN would have been above $20 when rates spiked astronomically a while back. VLCC rates continued climbing this week. Charter rates for an 80,000-dwt Aframax tanker from Southeast Asia to East Coast Australia Jan 29, 2019 · In the East, charterers have been fixing to China below wordscale (WS) 55, with rates recently moving further down. The bank’s data shows a scrubber-fitted, eco-designed ship earning $71,800 per day, while a standard VLCC could earn $57,400 Oct 11, 2023 · Three key tanker rate assessments see double-digit percentage point gains in a day. according to Tankers International data Apr 16, 2024 · The resurgence of VLCC ordering is unlikely to knock the sector’s gradual recovery off track, with an ageing fleet set to outweigh new deliveries, says Tankers International. 1, the equivalent of about $23,100 per day, until Mar 14, 2021 · For a VLCC, the all-in breakeven rate — including finance costs as well as operating expenses such as crewing — can be around $22,000-$25,000 per day. The average October rate, to date, for a clean long range 1 (LR1)-size tanker on the Arabian Gulf-to-Japan route is down 38% from January. 8m Dec 28, 2020 · Freight for the benchmark VLCC USGC-China route averaged lump sum $4. Jun 15, 2023 · The rate for a Very Large Crude Carrier (VLCC) from the Middle East to China, Japan and Singapore is assessed at just above worldscale 80 on Thursday, according to shipbroking firm Meiwa Feb 13, 2023 · The Baltic Exchange’s VLCC time charter equivalent assessment rose from $11,200 per day on 30 January to nearly $23,300 per day on Monday, a consistent trend upward that saw rates jump by more Jan 9, 2024 · The first Very Large Crude Carrier fixture in the West of Suez region using the updated 2024 Worldscale flat rates has been announced for a West Africa-Far East voyage, as market participants begin the process of transitioning away from the 2023 rates, further driving up the Worldscale multipliers being paid out by charterers for a rapidly firming dirty tanker market. Dirty tanker rates have also risen. A-Z up down. Read more While suezmax tanker TCE rates dipped late in the week, they ended Friday at nearly $49,800 per day. Jul 20, 2022 · TD22, TD1, TD3C and TD15 freight rate percentage increases since 1 June 2022. Tankers International reported the 300,000-dwt George Economou and Idan Ofer-controlled Gustavia S (built Sep 12, 2022 · Rates hit an all-time low of $34,485 per day on 31 May before rising on the prospect of longer voyages with the reshuffling of trade flows after Russia’s invasion of Ukraine and a surge in US Sep 21, 2023 · A weak VLCC spot market has sprung back into life as new October cargoes boosted rates. Still, VLCC rates are not strangers to such extreme rate swings: In 2019, a series of attacks in the Middle East and U. Frontline Tankers said on Aug. This will continue to drive tonnemiles and therefore VLCC demand up. Jun 29, 2022 · VLCC rates up 24% in a day as pressure mounts on charterers Markets likely to remain volatile, with scrubber-fitted ships enjoying huge premiums for now 29 June 2022 12:39 GMT Updated 29 June 2022 2 days ago · The average index-linked time-charter rate was $43,270 per day. Despite the relevant lack of demand, shipowners remain resilient to accept lower rates. Mar 10, 2020 · Tanker rates to ship oil in very large crude carriers (VLCCs) are surging as oil traders hunt for ships to store cheap oil in as they take advantage of a 25% plunge in prices on Monday amid a Bahri is one of the largest owners and operators of Very Large Crude Carriers (VLCCs) in the world. Feb 7, 2024 · The Baltic Exchange reported a 5. What is supply and demand telling us? Tanker tonne-mile demand is the most baffling metric, with VLCC tonne-miles out of the Middle East and West Africa staying flat and no noticeable increases seen on TD22 (US Gulf-to-East Asia) either. This low freight rate environment was subsequently exploited by cargo charterers who chose to employ VLCC and Suezmaxes that just entered the market for their East – West CPP (mainly diesel) voyages instead of the traditional LR2 tanker segment. Jan 24, 2024 · The WAF VLCC market has also seen weakness in the second half of the month, with Platts assessing freight for the 260,000 mt WAF-East route at w62 on Jan. Feb 25, 2022 · Fuel tanker rates from the United States to Europe jumped more than 8% on Thursday, surging to their highest level since May 2020. Latest Tanker Market Insights. 270,000 mt Middle East Gulf to China is now 1. According to figures from Lloyds List Intelligence just 14 tankers over 10,000 dwt were sent the breakers yards in VLCC MEG-China freight rates currently hover around 65 WS, reflecting a notable 26% increase compared to the rates observed a year ago. Long Range (LR) class ships are the most common in the global tanker fleet, as they are used to carry both refined products and crude oil. carriers reported sold, there are almost no tanker sales to report other than 3 x vintage VLCC's (which still obtained very decent prices due to very strong charter rates). 14 strikes on Saudi Arabia’s oil fields, which Saudi Arabia has blamed on Iran. The cost of bunkering fuel at the world's largest bunkering hub Dec 28, 2023 · Commenting on the outlook for 2024, a UK-based VLCC broker said that volumes should be stable as the ton-mile increase from rising inquiry levels in Venezuela would be offset by the projected OPEC+ cuts of 2. We would like to show you a description here but the site won’t allow us. 97% forward dividend yield. Tankers International (USA) New York 1301 Avenue of the Americas, New York, NY 10019, USA Telephone: +1 212 578 1895. The VLCC market bottomed out at the end of last week and rates have been firming. Due to their size, they can maneuver in inner waterways deep within rivers and locks. That’s off from an average of $68,300 per day for 2020 year-to-date. 00 with a charter rate of RV TCE excl idle days for 13. The freight rate of a tanker charter party is specified in one of four ways: by a lump sum rate, by rate per ton, by a time charter equivalent rate, or by Worldscale rate. 5/mt, for most of the second half of August, the highest since late March 2020, when the crude market was still in contango, motivating charterers to employ larger vessels for floating storage, after global demand Jul 31, 2024 · Data from Tankers International showed that Chevron booked Capital Ship Management’s 320,800-dwt Amyntas (built 2019) for a voyage to China at a rate that will fetch commercial operator Heidmar Jun 19, 2024 · VLCC rates posted huge percentage gains on Thursday, although the rise was off seasonally weak levels and broader concerns remain on Chinese demand and the duration of Opec+ production cuts Tankers and Gas VLCC China Jul 15, 2019 · Similar situation for cargoes heading to China, with rates standing close to WS 46. Read more here. Oct 7, 2015 · Yesterday the VLCC" New Andros" and trading AG/WIndia closed at highest Spot Charter this year reported WS 122. The secondhand value of VLCC tankers is increasing month over month. Middle East Gulf to China spot earnings are currently $35,700 per day, down 9% over the past week and 41% in a Aug 15, 2024 · “Considering that China’s anemic demand for crude has weighed heavily on crude tanker rates — especially on VLCC liftings from the Middle East — this suggests there could be some hard months ahead for owners,” wrote BRS. Moreover, there appears to be an upward momentum anticipated There are different tanker sizes used for the international transportation of oil, from a modest coastal tanker to a VLCC or ULCC Supertanker. They carry refined petroleum and are considered to be very versatile. Shipbroker Howe Robinson put average VLCC rates at $31,200 per day for tonnage without an eco engine or Weekly no of tankers Data Source: Clarkson Research Services 6. Demand for VLCCs has been rather limited in West Africa to China as well, with rates moving from around WS 57 earlier this month to levels below WS 54. VLCC time charter equivalent rates hit $34,357 per day on Friday Feb 19, 2024 · This growth has been incredible, given that VLCC rates averaged under $21,000 per day last quarter and a measly $8,700 per day in Q3. In only a couple of 4 days ago · Thai VLCC owner Prima Marine has seen a 36% year-on-year increase in second-quarter net profit according to a recent regulatory filing. Another week of rates metaphorically stuck in the mire in this sector. Register for free to get the insight that matters to you. The sector has already enjoyed an exceptional H1-22, with the first 3 months of the year seeing an average daily rate of $12,000 for a 10-year-old MR vessel without a scrubber. 5 deadline, despite commentary that changes in the Russian crude market will buoy spot rates and be a positive catalyst for shares. That epic VLCC slump appears to be over. Suezmaxes were quoted at $50,300 per day, up 5% from Wednesday, while aframaxes gained 8% at $50,600. 71 days @ Usd 123,710 and the Oct 1, 2018 · However, there are three exceptions to this, namely the Spot VLCC tanker freight rates when using the IGARCH and CGARCH models and the Spot Aframax tanker freight rates when using the CGARCH model. Alas, they barely got to $12-$13 which was Jan 22, 2024 · Meanwhile tanker recycling, which is also a low, is expected to increase in 2024. Nov 24, 2023 · Product Tanker Fleet 1. 2% in 2025, leaving space for tanker rate strength. 5 million gallons). Production cuts by Opec+ have been yet another headwind for VLCC rates. Jan 23, 2024 · Clarksons Securities assesses eco VLCC spot rates at $54,900, plus $5,600 for scrubbers, up 11% over the past month. 5% in 2024 and 1. 34 per share, which Oct 15, 2022 · V. Oct 11, 2019 · The Sabiti is a Suezmax-size vessel (a Suezmax can carry 1 million barrels of crude oil) that was reportedly fully laden when it was hit. Tanker Spot Rates . 5 year historic spread to VLCC for Suezmax and LR2 tankers, the annual free cash flow potential is $1. Trending Today Aug 19, 2022 · VLCC rates to China rise as refiners sidestep Urals crude. 23 — the highest since the coronavirus-induced Sep 20, 2022 · A robust demand for VLCC tankers along with a supply squeeze brought by an upsurge in crude loading from various exporting regions have pushed up the Persian Gulf to China rate above the key 100 Worldscale-points level for the first time in almost two-and-a-half years. DHT Holdings (DHT) and Euronav (EURN) primarily operate VLCCs. to Asia jumped to around $10 million this week from about $8 million last week 1 day ago · Oops, Something went wrong! Sorry, we can not find the report for this date Jul 29, 2024 · Big tanker owners enjoy upturn after charterers fell over themselves chasing tonnage. The Suez Canal closed until 1975 and freight rates skyrocketed because of the shortage of tonnage now ships had to pass the Cape of Good Hope. Mar 30, 2020 · FILE PHOTO: An oil tanker sits anchored off the Fos-Lavera oil hub near Marseille, France, September 17. Concern around tensions in the region pushed forward rate agreements (FFAs) and spot rates much higher, with a VLCC now getting paid more than 15,000 USD per day to carry crude oil from the Middle East Gulf to China, much higher than the 11,000 USD per day Feb 13, 2024 · The shipbroking giant assessed rates for a scrubber-fitted, eco-designed VLCC sailing from West Africa to China at $60,400 per day, up 10. 52/mt Nov. 2-8 million gallons) and an MR tanker can carry between 190,000 barrels and 345,000 barrels (8-14. DHT Holdings lets VLCC newbuild options lapse. DHT is an independent crude oil tanker company. Jan 16, 2024 · The segment could use a boost, with ABG Sundal Collier’s Petter Haugen calculating that VLCC rates could have been as much as 172% higher than the average $36,600 per day seen through much of Mar 6, 2024 · By February 2024, the crude tanker order book to fleet ratio had risen to 6. But over the past week, shipbrokers and owners have noted an early start to the fourth-quarter spike. Tankers International (Singapore) Pte. Additionally, you will get TCE, demurrage and lightering rates, canal delays, FFA prices and carbon costs. Our tanker information is independent and underpins physical and FFA contracts. The deal grants the Saverys family control over Euronav, which is Sep 13, 2022 · In full-year 2021, Clarksons put average VLCC rates at just $6,600 per day. Jan 22, 2024 · As we wrap up the first quarter of 2024, the VLCC freight market continues its upward trend amid rising tension in the Bab-el-Mandeb, tightening of sanctions on companies involved in Russian oil trade, and the OPEC+ group announcing an extension of the supply curbs that were put in place at the start of the year. Jun 25, 2024 · A first VLCC chartered to take a diesel cargo west from the Middle East in nearly a year highlights the trend, which is complicated by the minimal number of big crude tanker newbuilding deliveries The rate for 70,000 mt East Coast Mexico/US Gulf is 10 points firmer than a week ago at WS265 (a daily round-trip TCE of $91,158) and the 70,000 mt Covenas/US Gulf rate climbed 13 points to WS256 Aug 17, 2022 · The Baltic Exchange’s VLCC TCE weighted average was also up sharply to $13,150 per day on Tuesday, just 11 days after rising above zero for the first time in 19 months. The strong VLCC market Aug 12, 2024 · Futures prices for very large tankers on the Middle East-to-Asia route point to a vertical trajectory from Friday’s spot rate of WorldScale 46. The attack on the Iranian tanker comes less than a month after the Sept. May 11, 2016 · This boosted VLCC rates on the benchmark route to $49,031 per day on May 6 from $30,134 a week ago on April 29, 2016. 4 billion or $6. The method adopted was very successful as tankers could be specified more easily on the basis of their cargo-carrying capacity and thereby reduce accidents that Jun 19, 2023 · A stablemate of Okeanis Eco Tankers’ 319,000-dwt Nissos Antiparos (built 2019) is fixed on subjects at an actual TCE rate of $104,633 per day. Feb 4, 2021 · The medium-term outlook for tanker shipping until 2025 looks promising with a more The peak year for VLCC spot market earnings has been pushed out to 2024 at $39,500 a day while aframaxes are 6 hours ago · 25-August-2024 Daily Updated Ship Charter Rates . Dec 7, 2023 · Frontline is set to become the largest publicly traded tanker company through the acquisition of 24 VLCC tankers from Euronav. 5 level (a round-trip TCE of $4,800 per day), while the rate for 280 Sep 16, 2014 · A GP tanker can carry between 70,000 barrels and 190,000 barrels of motor gasoline (3. Feb 15, 2024 · He noted that VLCC spot rates appeared to be at a three-month high. Main trade mark routes of Middle East-to-East Asia ( TD3C ), West Africa-to-East Asia ( TD15 ) and US Gulf-to-East Asia ( TD22 ) have recorded m-o-m increase in the range of 30-45%. Net income for the three months was THB 678. All cargo tanks are fitted with a Saab radar type level gauging system and various fixed gas warning devices monitoring hydrocarbon gas levels in tanks utilization, tanker supply and tanker demand shocks on the volume of oil exports from the Arabian Gulf, bunker fuel prices, one-year VLCC time charter rates, round-trip VLCC voyage rates from the Arabian Gulf to East Asia, and the voyage profits of the owners of VLCCs chartered for round-trip voyages on this route. Clarksons Securities predicts product tankers will experience a similar upward trend. VLCC Benchmark Values ‍ The current month saw an increase in asset values for VLCC tankers of all ages (Figure 9), as the increase influenced the buying and selling of secondhand vessels in freight rates recorded in September. Platts assessed dirty West Africa-UK Continent 130,000 freight at $19. The current month saw an increase in asset values for VLCC tankers of all ages (Figure 9), as the increase influenced the buying and selling of secondhand vessels in freight rates recorded in September. It should be noted that there have only been a handful of vintage VLCC's sold in 2024 so far. Strong VLCC tankers transport the goods within the Middle East and across the world. In addition to the skyrocketing VLCC rates, Clarksons’ fleet Nov 1, 2023 · If we assume VLCC TCE rates of $75,000 per day at 5. Dec 18, 2023 · As we look ahead to 2024, the tanker markets are lined up with strong fundamentals. Opec production cuts could persist. The shipping market is a cyclical one, where freight rates can go from sky high in one Apr 30, 2024 · As per the Average Freight Rate Assessment system, the denominations of oil tankers were based on the concept of DWT and the above listed oil tankers classification was introduced. The Baltic Exchange’s assessment for the Middle East Gulf to China route increased 93% from the previous Oct 17, 2022 · The rise in tanker freight rates has seen loaded speeds of VLCCs reach their highest levels for 20 months, the Signal Group says. Meanwhile in the West, rates moved around WS 25 destined for the US Gulf. If past experiences are a guide, Posidonia in Greece in June 2024 will be an extravagant display as in days on old – one certainly hopes so. Apr 11, 2023 · However, based on the other factors that affect tanker TCE rates, I expect VLCC TCE rates to remain high in the long run. Feb 21, 2024 · VLCC rates are dipping from their 2024 highs but will maintain their strength amid robust global demand for tonnage, according to freight analyst Kpler. 11, when the rate stood at w73. The Baltic Exchange provides a complete picture of the tanker market through our daily physical and forward assessments, weekly Sale & Purchase and vessel recycling data, and quarterly benchmark of operating costs. General Purpose Tankers (GP Tankers) GP Tankers are the smallest class of tankers built between 10,000 dwt to 24,999 dwt (deadweight tonnage). Read more Feb 23, 2022 · Brokers are reporting rising VLCC rates once more after a long slump to all-time lows. Jan 8, 2024 · South Korea’s Sinokor Merchant Marine is making a big play in the VLCC sector chartering in its first four spot vessels at high rates in the first week of 2024 while also being named as the Argus Tanker Freight gives you access to daily prices on more than 250 routes for clean, dirty and specialised tankers, available in multiple units – from Worldscale and lumpsum to USD/bl. Jul 25, 2022 · VLCC rates typically begin a seasonal surge in September as oil traders charter tankers on the spot market to meet increased runs by Asian refineries producing additional gasoil and kerosene for heating ahead of the northern hemisphere winter. com May 16, 2024 · The Alafouzos family-controlled owner said VLCC time charter equivalent rates averaged $68,800 per day in the first three months. Suezmaxes are earning $62,100, with a scrubber premium of $2,600, a rise of 24% Jun 16, 2023 · VLCC rates are subject to dramatic swings up and down. Demand continues to grow, even if at slightly more muted rates, but there is a geographical mismatch between oil demand and supply growth. Looking to Asia Jan 2, 2024 · If this activity restarts, coupled with the impending shortage of longhaul large tanker tonnage, freight rates and earnings for tankers could achieve remarkable levels in 2024. 3% “As stated in our recent Tanker Shipping Market Overview and Outlook report, the near-term outlook seems positive for crude tankers. Brokers reported Japanese owner Marubeni’s 297,000-dwt VLCC Mermaid Hope (built 2011) fixed for two See full list on freightwaves. According to Rystad, current oil and products in Feb 14, 2024 · Following a significant uptick in 2023, tanker newbuild activity is expected to continue to surge in 2024. Since mid-December, the volume of crude oil tankers navigating the Red Sea has Jan 22, 2024 · Tankers International’s Head of Research and Insight, Mette Frederiksen, shares her thoughts on 2023 market trends based on the Pool’s proprietary fixture data, and how oil and freight dynamics reshaped the VLCC market over the last 12 months. Apr 22, 2024 · Clarksons Securities has issued a bullish forecast for big VLCC rate rises in 2025. Furthermore, MR and LR2 TCE rates may increase more than VLCC TCE rates. Feb 10, 2000 · Frank A Shrontz VLCC Tanker. In the Middle East the market for 280,000mt to US Gulf (routing via the Cape/Cape) remains in the WS18-18. Ltd. 77X forward earnings annualized with 13. Evercore ISI. 10 VLCC loadings in West Africa have already been fixed for August's first decade. 1% of Tankers Fleet Is Currently Used for Floating Storage Oslo | 8 January 2021 Weekly Tanker Rates | By Jørn Bakkelund, Senior analyst 6 0 100 200 300 400 500 600 0 20 40 60 80 100 120 x t Aframax Crude Tankers Storage Suezmax Tankers Storage UL/VLCC Tankers Storage Tanker >=10K May 17, 2024 · Owners are still reaping lucrative rates for longer-term tanker charters as spot rates rise. S. Jan 3, 2023 · Crude tanker stocks remain the second-best-performing segment of shipping equities after product tanker stocks. Current rates are at WS162,5 ex Black Sea. Jan 22, 2024 · As the first half of 2024 draws to a close, the VLCC market presents a picture of moderate improvement without the dramatic boom witnessed in other tanker segments. Jun 22, 2023 · Both supertankers (VLCC’s) and medium sized tankers have seen an increase in rates as a result of risking geopolitical risks premiums. Oct 18, 2022 · Tankers International data shows that Thai oil company PTT fixed the Thenamaris-operated, 319,000-dwt Seaking (built 2005) at a WorldScale rate of WS 110, or the equivalent of $97,100 per day Oct 16, 2023 · However, the global tanker fleet is expected to grow by only 1. along with the discovery of large oil reserves in the Middle East, the crude oil tanker ships grew considerably larger. ” . Aframax Med freight rates surpassed WS 190, 14 points higher than week 7. VLCC rates closed out the typically weak third quarter at $36,800 per day on a fleet-weighted average basis, according to Jul 19, 2021 · Spot VLCC rates on the benchmark TD3C trade representing 270,000 dwt vessels between the Middle East and China, plunged to just $500 per day, according to Gibson Shipbrokers, the lowest level For tanker owners, the Six-Day War of 1967 was of greater importance. 88, which translates into a Dec 7, 2023 · Hunter Group returns to tanker market with three-year VLCC charter. Oct 27, 2016 · Rates for dirty VLCC-size range tankers and AFRA-size range tankers through October have each averaged 36% lower, respectively, than the full year 2015 average. Aug 27, 2021 · The short-term outlook is uncertain. 23, a drop of w11 since Jan. Apr 29, 2010 · Also, Nordic primarily operates Suezmax tanker ships, rates for which have been soft this year, chiefly because of supply among this asset class has overwhelmed demand. In the year to date, the average VLCC rate is $42,000 per day, some way behind 2023’s $51,200 per day. VLCC Rates from the Middle East Gulf have remained flat this week, with 280,000mt Middle East Gulf to USG via the Cape/Cape routing still being assessed at WS21-22 level and 270,000mt to China Teekay Marine Markets, Tanker Update Watch this space for Teekay's regular update on the tanker market. Table headline Jun 12, 2023 · The Angelicoussis Group’s older 318,000-dwt VLCC Maran Lupus (built 2009) managed an actual time charter equivalent (TCE) rate of $36,576 per day over 52 days from West Africa to northern Europe Oct 26, 2018 · With charterers fixing on forwards dates, this also put more upward pressure on rates. 6m ($19. 4% over the past week. 5. LNG shipping stocks have also performed better than the Mar 20, 2020 · Related: VLCC ends week with skyrocket spot rates on ‘dramatic fixing’ The essence of the tanker dichotomy was explained in the BTIG call. Bolstered by high freight rates and strong global demand for oil and oil products, tanker owners are taking advantage of favourable market conditions. 10, down from $34. While freight rates have exhibited a steadier trajectory compared to the volatility of 2023, peak levels haven’t quite reached the heights anticipated. VLCC rates have arguably been hit the hardest from peak to trough, although that provides little to no consolation to other vessel classes. However, crude tanker stocks have fallen double digits since the Dec. VLCC rates started the year at about $30,000 a day, increased to more than $53,000 Jun 18, 2019 · Spot rates in the Middle East Gulf have increased dramatically on Thursday and Friday after two tankers were attacked in the Gulf of Oman. The facilities allow a maximum cargo loading rate of 18,000m/h through three cargo manifolds with three tanks open in each Apr 24, 2019 · Crude Oil Trade: VLCC rates in the Middle East Gulf, moving up and down but remaining below WS45 Fotios Katsoulas Associate Director, Lead Analyst Tanker Shipping & Alternative Fuels, S&P Global Commodity Insights Jan 11, 2024 · The cost of chartering a Very Large Crude Carrier (VLCC) capable of loading 2 million barrels of oil from the U. 56 million in November, compared to the $4. 7% from Monday and 38. Oct 31, 2023 · VLCC tanker rates increased sharply this week to hit four-month highs driven by Asian refineries ordering long-haul barrels from the Atlantic, according to brokers. 26 that it expects the average daily time charter equivalent rates for VLCCs in Q3 to hit $14,000, down from $15,000 in Q2 and for Suezmax TCE rates to decline from $11,000 to $9,800. They were down at around $25,000 per day in spring 2019, then surged to over $150,000 in fall 2019 after a series of attacks in the Middle East and U. [46] Even larger tankers were now built, [47] as the limitations of the Suez Canal were not governing anymore. Sep 22, 2022 · China’s rebound in purchasing amid a much more ample global crude market lifts VLCC rates across all fronts, with much higher anticipated clean product exports from China, additional US SPR releases and imminent peak winter demand all pointing to a sustainable demand for crude tanker owners for the remainder of the year. 34/mt Jan. 5 points to just shy of WS104 (a round-trip TCE of $68,600 per day). 5 points higher than a week ago at WS82. The breakeven rate for this type of ship is around $30,000 per day. [48] In a lump sum rate arrangement, a fixed price is negotiated for the delivery of a specified cargo, and the ship's owner/operator is responsible to pay for all port costs Apr 12, 2024 · With VLCC rates flat, suezmax and aframaxes took the spotlight. 71 million average by mid-December, according to Platts data. Brokers reported that Koch had fixed the 2011-built VLCC ‘Oceanis’ for three option three months at $27,125 per day. Mar 11, 2023 · VLCC AG-FE freight rates were at WS72, almost 27 points higher than at the end of the second week. 16 Accordingly, the p-values of the DM test reveal that in 29 cases out of a total of 48 (almost 60%) the null hypothesis of equal forecasting VLCC. Our fleet trades internationally and consists of crude oil tankers in the VLCC segment. 3 days ago · Oops, Something went wrong! Sorry, we can not find the report for this date Jan 26, 2022 · He trimmed his full-year 2022 rate forecast for non-eco LR2s (tankers with capacity of 80,000-119,999 deadweight tons or DWT) by 5% to $18,000 per day and reduced his estimate for smaller non-eco MRs (25,000-54,999 DWT) by 3% to $14,000. As we move into H2-22, this figure now stands at $50,000 per day. The cargo pumping system allows for a maximum discharge rate of 15,000m³/h via three main pumps. We expect rates to stay firm for the rest of the week, Fearnleys said. The first Very Large Crude Carrier fixture in the West of Suez region using the updated 2024 Worldscale flat rates has been announced for a West Africa-Far East voyage, as market participants VLCC: [abbreviation or noun] a crude-oil tanker with a very large capacity. There were just four late-week VLCC fixtures, according to Tankers Aug 12, 2024 · The latest news on the tanker sector, crude, product and chemical tankers, LNG and LPG carriers, freight rates and fleet developments. About. VLCC time charter rates for floating storage jumped to as much as $120,000 per day by During that period, VLCC day rates skyrocketed from $25,000 to over $150,000, persisting for six months. 6% increase in time charter equivalent rates on Tuesday to reach $40,499 a day. Of all the analysts, Evercore ISI’s Jon Chappell is the most bearish on 2022 and 2023 tanker Aug 4, 2023 · The Kepler Cheuvreux forecast sees annual average VLCC rates hitting $54,650 this year, and steadily rising for the coming couple of years to hit a hugely profitable $87,500 by 2025, whereby a Sep 9, 2020 · As of September 4th, Poten & Partners quoted the dirty tanker rate for VLCC, 270 at just $6,000 Spot TCE Earnings. If a non-scrubber, non-eco-designed VLCC was booked at an actual TCE rate of -$7,400 per day, it could be losing over $32,000 per day. So far in the third quarter, the index-linked spot rate has averaged about $31,000 per day with 100% utilisation. sanctions on Chinese tanker owner Cosco spiked rates from $25,000 per day to over $150,000 The Freightos Baltic Indices (FBX) reflect weekly spot rates for 40-foot containers. Apr 5, 2024 · Tanker rates fell by 3. For instance, a ULCC is about twice the Mar 30, 2020 · Freight rates for very large crude-oil carriers (VLCC) along the Middle East Gulf to China route were assessed at about $180,000 a day on Monday, up from some $125,000 on Friday and a weekly low Mar 22, 2023 · VLCC rates have performed another comeback in recent days across routes. 2 million b/d. Oct 12, 2022 · V. VLCC. Mørkedal believes VLCC rates could top $100,000 per day this winter. The common rule is that the volume that can be carried in a tanker increases as a function of the cube of its length. 4% week on week to $47,400 per day on a fleet weighted average basis, Clarksons said on Friday. Suezmax freight rates from West Africa to continental Europe are now at 135 WS, nearly 20 points higher than two weeks ago and nearly 36 points higher than earlier this year. knxki iuoifp ocul sams nlmmnp wkqij goqae ktlwnn agiww ibpswd