Freight rates for tankers were weaker across the board at the outset of 2017 as vessel queries and chartering activity remained muted.
The Baltic Exchange's assessment for average VLCC time-charter equivalent rates from the Middle East fell 16% to $38,132 per day, from the last assessment at 23 December. Average suezmax rates were down a similar percentage to $29,321 per day, while aframax rates were down 13% to $18,124 per day.
Tankers International showed very limited chartering activity for today. The Awilco and Transportation Recovery Fund jointly owned 299,999-dwt Eco Future (built 2016) was put on subjects by Stasco at $39,335 per day for the Mideast Gulf-to-Singapore voyage.
Six VLCCs remain on subjects from Friday, with only three ships fully fixed. The John Angelicoussis-owned 306,314-dwt Maran Carina (built 2003) was chartered to Reliance for an undisclosed sum for the Caribbean-to-India voyage.
The Pantheon Tankers-owned 318,440-dwt Astro Chloe (built 2009) was booked for the same voyage with the charterer and rate undisclosed. The DHT Holdings-owned 298,923-dwt DHT Hawk (built 2007) was fixed by Clearlake at last year's equivalent of WorldScale 80. New WorldScale rates go into effect this year.
MJLF research analyst Court Smith says the rate weakness reflects more of a slow return for the chartering market rather than any reflection of rate direction. Smith said some preliminary queries have been made in the market, but they are "not really important yet, just normal market noise."
