Aframax time charter rates
VLCC (very large crude carrier) time charter rates increased for two consecutive weeks, whereas Suezmax and Aframax time charter rates remained constant from the prior week. As Aframax rates rise, trading companies are looking at other vessel sizes for storage options including Suezmaxes and even Panamaxes. The 1999 built, 71,000 dwt Royal Oak was taken by ST Shipping for 60-90 days' time charter, Singapore delivery with optional rates depending on the duration, around $22,000/day, brokers said. Shipping sources last week said that Singapore-based ST Shipping, Glencore's chartering arm, along with fellow mega-trader Mercuria have chartered six Aframax tankers in Asia, potentially for fuel oil storage in the next few months, Reuters reports.. The activity was said to have given a boost to time charter rates, and the sources view it as a sign the market could be firmer in June. Disclaimer. The information contained in this website, as well as all trademarks and logos displayed therein, belong solely to Hudson Shipping Lines (Hudson), and may not be copied or reproduced in any format for either public or commercial use without the express written consent of Hudson. About Aframax tankers. AFRA is acronym for Average Freight Rate Assessment, used by the major oil companies, traders and other market players as a source of unbiased market rates. The rates are periodically assessed by the London Tanker Brokers’ Panel, which was formed in 1953. Deadweight of the Aframax tanker varies from 80 000 tons to 120 This was the highest rate recorded since Alibra began assessing time charter rates for tankers in 2011, compared to the same period in 2018 this was an increase of 171%. Spike in Suezmax and Aframax rates. As the market for VLCCs improved, rates for the smaller suezmaxes and aframaxes followed suit.
Nov 7, 2018 The strong VLCC market this week has supported the suezmax and aframax markets, pushing up rates again this week. The clean market
The smallest size of dedicated crude oil tankers is an 'Aframax' which can day' also known as the Time Charter Equivalent (TCE). 1 Year time charter rate. This paper selects the one-year charter freight rate of Aframax tankers and amplitude of Aframax tanker freight rate on varied time scales and forecasts the VLCC. A week ago in the Middle East, the Saudis lowered their April crude Official Selling Price (OSP) and raised production levels by 2.6 million barrels per day Nov 21, 2019 Given the positive rate environment, the new Aframax tanker fleet will likely used long time charters, but now DCIX uses spot for the Aframax. Feb 17, 2020 Tankers · Aframax · Bunker Tanker · Chemical Tankers · Crude Oil “At the same time, vessels are reducing their speed to save fuel. “As rates have come down, relatively cheap VLCCs will encroach on suezmax routes in VLCC sector as time-charter earnings hovered just above daily operating costs. Nov 7, 2019 Agreed to charter-in a 2006-built Panamax for a two-year period impact of higher average rates in the VLCC, Suezmax and Aframax sectors,
Nov 7, 2019 Agreed to charter-in a 2006-built Panamax for a two-year period impact of higher average rates in the VLCC, Suezmax and Aframax sectors,
This paper selects the one-year charter freight rate of Aframax tankers and amplitude of Aframax tanker freight rate on varied time scales and forecasts the VLCC. A week ago in the Middle East, the Saudis lowered their April crude Official Selling Price (OSP) and raised production levels by 2.6 million barrels per day Nov 21, 2019 Given the positive rate environment, the new Aframax tanker fleet will likely used long time charters, but now DCIX uses spot for the Aframax. Feb 17, 2020 Tankers · Aframax · Bunker Tanker · Chemical Tankers · Crude Oil “At the same time, vessels are reducing their speed to save fuel. “As rates have come down, relatively cheap VLCCs will encroach on suezmax routes in VLCC sector as time-charter earnings hovered just above daily operating costs. Nov 7, 2019 Agreed to charter-in a 2006-built Panamax for a two-year period impact of higher average rates in the VLCC, Suezmax and Aframax sectors, calculate the profit, time charter rate series were obtained from Clarkson and Their focus is on the four larger ship bulker sizes; VLCC, Aframax, Capesize.
Jan 29, 2020 The aframax sector has also begun to slow down, following last week's gains. Weekly Tanker Time Charter Estimates, January 29 2020 has crashed, the average rate for an LR1 for one-year is estimated as $18,000/pdpr.
Time Charter Market $/day (theoretical) 1 Year 3 Years VLCC $29,000 $29,000 Suezmax $18,500 $19,000 Aframax $15,500 $17,000 Panamax $13,000 $14,000 MR $13,500 $14,500 Handy $12,000 $13,000 For three years, the time charter rates were around $33,000. On March 2, 2016, the VLCC time charter rate for one year fell by 3% to $42,500 from the prior week’s $44,000. Aframax (Pacific) 7,300 7,700 Pacific Aframax rates remained flat in April; rising bunker prices ($45/t increase in Singapore during April) continue to weigh on TCEs. We expect rates in May to remain flat in the Pacific market, though the return of refineries from seasonal maintenance may give some support. Tanker Fleet. Ocean Tankers has a modern fleet of more than 100 oil tankers of various sizes. Specially designed from a charterer’s perspective, our new buildings are engineered to provide faster maximum achievable speed, larger carrying capacity relative to vessels of the same class and double-up pumping capabilities. Worldscale rates for chartering a very large crude carrier (VLCC) to transport two million barrels of crude oil from the Middle East to the U.S. Gulf now stand at W82.5-W85, compared with W42.5 at the beginning of January. To Japan rates have risen to W95-W100 from about W52.5. business has taken off - along with VLCC spot charter rates. It was reported on Tuesday that Bahri of Saudi Arabia had fixed 18 VLCC's as rates surged up, but we hear that the final number was about 12 vessels. This week we have seen AG/Singapore at TCE's of $200,000+/day for HSFO VLCC's and $193,000+/day for LSFO VLCC's. The attack on Saudi Arabia led to volatile bunker prices and owners capitalised on this with Middle East Gulf rates for 280,000mt to US Gulf basis Cape to Cape now being rated up four points at WS 31 level, whilst 270,000mt to China gained around 15 points to WS 69 region.
VLCC. A week ago in the Middle East, the Saudis lowered their April crude Official Selling Price (OSP) and raised production levels by 2.6 million barrels per day
Mar 19, 2019 C5TC. P4TC. S10TC. Historical time charter rate - Capesize, Panamax, and Supramax 2019 IHS Markit. Freight rate recovery and modest order book growth mean limited the Suezmax and Aframax sectors. Demolition will
As Aframax rates rise, trading companies are looking at other vessel sizes for storage options including Suezmaxes and even Panamaxes. The 1999 built, 71,000 dwt Royal Oak was taken by ST Shipping for 60-90 days' time charter, Singapore delivery with optional rates depending on the duration, around $22,000/day, brokers said. Shipping sources last week said that Singapore-based ST Shipping, Glencore's chartering arm, along with fellow mega-trader Mercuria have chartered six Aframax tankers in Asia, potentially for fuel oil storage in the next few months, Reuters reports.. The activity was said to have given a boost to time charter rates, and the sources view it as a sign the market could be firmer in June. Disclaimer. The information contained in this website, as well as all trademarks and logos displayed therein, belong solely to Hudson Shipping Lines (Hudson), and may not be copied or reproduced in any format for either public or commercial use without the express written consent of Hudson. About Aframax tankers. AFRA is acronym for Average Freight Rate Assessment, used by the major oil companies, traders and other market players as a source of unbiased market rates. The rates are periodically assessed by the London Tanker Brokers’ Panel, which was formed in 1953. Deadweight of the Aframax tanker varies from 80 000 tons to 120