Clean East | Tonnage is still tight for the moment which may contribute to some strength. The LR1s look stable and the MRs remain firm. Southeast side is holding steady on the activity in the AG. North looks quiet even though some cargoes are seen for the first decade of September. The list looks longer here so we may start to see rates come off.
In the first half of 2014, we saw an increase in VLCC fixture activity, driven mainly by demand from the Far East. Supporting this, our proprietary data showed that liftings out of the Arabian Gulf to the Far East increased by about 10% year-on-year and 16% from West Africa to the Far East. We've also seen a rise of about 6% in Caribbean sourced volumes transported to the Far East on VLCCs.
So, what kind of impact did this activity have on spot rates? Through July, AG/East VLCC spot rates averaged WS 46 (TCE US $19,500/day ...
Clean East | LR2s look firm as we saw some ships fixed at the end fo last week. Tonnage is still tight for the moment which may contribute to some strength. The LR1s look stable and MRs are remaining firm. Southeast side is holding steady on activity in the AG. North looks quiet eventhough some cargoes are seen for the first decade of September. The list looks longer and we may start to see rates come off.
Clean East | The week ends on a bullish note as tonnage remains tight across all segments. Several mid-Sep LR2 cargoes out in the market. 75,000 x WS 115 does not seem to be available for fixing anymore. Might be interesting to se how the market pans out next week since it doesn't make sense currently to split LR cargoes as MRs are catchign up at 35,000 x WS 125 levels.
Clean East | The AG market continues on it's firm trend as the week begins, but most of the activity is now focused on the MRs. Rates for these ships are trending higher due to the tight positions until the end of August. Southeast Asia is also strengthening on the constant activity in the AG. The North looks quiet at the moment with only a few cargoes seen for early September; however, we believe charterers are holding back on showing cargoes to the market.
Clean East | The AG market continues to be firm on a tight tonnge list. The LR2 market is still stable as well as the LR1. The MRs are firming up due to the LR2 parcels being broken up into MR sizes. A number of ships are on subs and it's not easy to find a ship until end August. The Southeaast market has quite a number of prompt ships and is staying stable. The North is still tight, but seems to be taking a brakers as most of the cargeos in August are covered.
Clean East | The LR2s positions in the AG are still tight and sentiment is poised to firm on the bullish LR1s. Hearing a fixure on subjects for WCI/Singapore at 60,000 x WS 140. MRs are also moving high on bullishness - hearing 35,000 x WS 175 on subs for AG/SAFR - an increase of 15 WS points over last done. Southeast is still quiet for today and meanwhile in the North, it is still firm. There are some end month cargoes still uncovered and hearing some replacemetns done due to inclement weather in the North. The tonnage list ...
Clean East | LR2s are holding stable and hear a ship is on subjects for WS 115 on TC1. LR1s are still on a strong run with cargoes seen until early September and hearing some fixtures on subs at around WS 120-125 levels on TC5. MRs are stable due to the LR1s, but upside is limited due to ample tonnage. Southeast is still a bit quiet today and meanwhile, in the North, it is still firm. There are some end month cargoes still uncovered, but the tonnage list is very short.
New York – 11 August 2014 – In an update to its annual five-year Tanker Market Outlook, McQuilling Services recently published its Mid-Year Tanker Market Outlook update.
The 50+ page report provides an outlook for monthly tanker freight rates and TCE revenues for 13 major tankers on eight vessel segments for the second half of the year and the remaining four years of the forecast period. The report also provides an overview of shipping finance markets and how the various tanker classes have performed in the first half of 2014 compared to McQuilling Services’ expectations.
Some key findings from the report include ...
Clean East | The Arabian Gulf market ended on a high note. LR2s are holding steady despite the lack of cargoes. LR1s are continuing the bullish run and more cargoes are being seen until early September. Therefore, we could see rates begin to fix higher. The MRs are slowly bucking the trend. Singapore remains the same with soft sentiments on the MRs. The North is getting tighter and sentiment is bullish for loadings until the end of August.
Clean East | LR2s are still firm on tight tonnage; however, no fresh cargoes are being seen. LR1s are on a bullish run with cargoes until the end of August. Hearing some fixtures are being doine around WS 120-125 on TC5. MRs are finding strength on the LRs and we may see some fixtures fixed higher than last done. Singapore region is still a bit quiet with ample tonnage. Meanwhile in the North, it is getting hot and we can see more than 10 uncovered MR cargoes until the end of August. Charterers are rushing to fix their cargoes.
Clean East | LR2s are still holding steady despite the fact that there have been no fresh fixtures/cargoes. The LR1s are on a bullish run due to the amount of cargoes available until the end of August. Eventhough the list is list, MR owners are starting to get excited about the strength of the LR1s and some are saying the LR1 cargoes may be split on to two MRs instead.
The Singapore region is still a bit quiet with ample tonnage. Meanwhile in the north, it is getting hot and we can see more than 10 uncoverered MR cargoes until ...
Clean East | The LR2s are holding stable as the tonnage list is tight; however, no fresh cargoes seen in the market currently. The bulk of the action is still on the LR1s with activity seen for promptish loadings. MRs are also picking up, but because the list is long, there's no room to move rates up. Singapore is also becoming soft as limited activity is being met with adequate supply. The north is still active on a tight list until end of August.
Clean East | AG market is still firm on the LRs, but some are saying that the market may come off in the weeks to come. LR2 stems were also seen being split and fixed on MRs as the MR list is quite long in the AG region. The southeast market tonnage list looks long, but the north continues to be tight and more cargoes are seen coming out for end month loadings.
