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With an enormous chunk of the Suezmax fleet now in the hands of oil companies, there is a natural cap on freight whilst charterers are content to profit from the delta between chartering in and out, which caps the downside to some extent (a silver lining of sorts).
Large and expensive new building orders in the container vessel and chemical tanker markets dominate the headlines again this week. Wan Hai Lines of Taiwan has ordered 8 x 16,000 TEU's container vessels including 4 at Hyundai Samho plus 4 at Samsung Heavy Industries in Korea for region $187 to $204 mill. each.
Suezmax tanker rates have jumped to the highest level in seven weeks, pulling up from their summer slump. The rebound is feeding hope that the crude carriers are beginning to move into a...
Following the latest wave of attacks on commercial vessels in the Red Sea, Suezmax operators with vessels located west of Suez have been increasingly hesitant to cross the canal, which is now reported to command a premium over the longer Cape of Good Hope passage.
Weekly no of tankers Data Source: Clarkson Research Services 6.1% 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 ...
The West of Suez dirty tanker market on Jan. 4 saw a significant jump in Suezmax rates amid a flurry of fixtures for loading in West Africa and the Black Sea, with sources citing a busy US Gulf Aframax market and a tightening tonnage list.
The Baltic Exchange’s suezmax time charter equivalent assessment jumped more than $6,500 over the last week, and more than $14,000 over the last nine days, to bring them above $78,200 per day on...
Spot market rates for suezmax crude tankers shot upward by nearly 81% in just four days as a tight list of available tonnage met strong sentiment by owners.
A London-based Suezmax broker put the decrease in rates down to a shift in the tonnage-inquiry fundamentals as well as a downward adjustment in the US Gulf market, which had been the main driving force for the increase in rates earlier in the month.
Chartering costs for a so-called Suezmax, the largest class of oil tanker that can pass through the Suez Canal with its tanks full, soared as more ships opted to sail around Africa to avoid...