Tanker rates continue to fall

Since the beginning of the year, rates for tankers have decreased in all regions.

Rates for vessels of 270,000 dwt on the route from the Persian Gulf to China fell three points to $31,800 per day in time charter equivalent (TCE). On the West Africa-China route, rates for VLCCs with a deadweight of 260,000 tons fell by three points to about $33,700 per day.

The market for Suezmax tankers fell in all regions. Rates for CPC/Augusta 135,000 dwt vessels fell 15 points to $94,300 per day.

For Nigeria/Rotterdam flights, rates also fell 15 basis points to around $35,000 per day.

On the Hound Point/Wilhelmshaven route, rates for 80,000 dwt aframaxes remain unchanged at WS170 (daily TCE round trip rate of $68,000).

In Mediterranean markets, Ceyhan/Lavera aframax flights are up 13 points year-to-date to WS173 (daily round trip TCE of $57.1).

Aframax’s US market expectedly fell after the holiday season. In particular, rates on the Gulf of Mexico-Rotterdam route fell by almost 20 points to WS176 — to about $45.3 thousand per day.