Aframax tankers have experienced a “dramatic” evolution of rates in the North Sea market, according to shipbroker Barry Rogliano Salles (BRS).
The French shop said that an already “light-ish” tonnage list grew very difficult to navigate as tonnage quickly disappeared under the radar, while charterers piled in with a flurry of cargoes.
Rates have risen by between Worldscale (WS) 60 and 70 points in a week, with more potential for rises.
UK broker Howe Robinsons Partners quoted Hound Point to Wilhelmshaven trips at $70,000 per day, against $28,000 so far this year on average for eco ships.
The Baltic, albeit quiet on the surface for much of the last week, also saw a big rise in the last-done level on Friday.
Loadings from Primorsk in Russia continue to attract a premium at $84,500 per day.
Clarksons Platou Securities assesses eco aframaxes at $39,100 per day on average, up 16% in a week and more than 60% in a month.
Tankers with scrubbers fitted can bank another $7,200 on top of that.
"Despite decent levels of enquiry seen early on last week, sentiment remained on the low side amongst owners in the Med," BRS said.
Med ships heading north
“However, this all changed…as many western Med positions started considering to sail northwards where the North Sea market had exploded,” the Paris company added.
Cleaves Securities said both aframax and suezmax rates had firmed over the last seven days,
Aframaxes added 22% to $43,000 per day, and the bigger million-barrel vessels put on 10% to reach $27,000 per day.
There was less fixing in West Africa suezmax markets, however.
Charterers seemed to either hold back with cargoes for the final 10 days of July, or went off-market as they tried to lower owners’ rate ideas, BRS said.
“Lists are well supplied with eastern ballasters attracted by the higher numbers paid last week,” the broker added.
