Tanker owners are enjoying a red hot winter market with rates passing $100,000 per day on some routes and one voyage setting a new year-to-date high.
Fearnley Securities this morning placed spot rates out of the Middle East Gulf for the Far East at world scale 87.5, equal to $101,900 per day.
“It was another active day in the MEG, and charterers had to pay up to secure tonnage,” analysts Jonathan Staubo and Espen Landmark Fjermestad said in a report today.
Erik Nikolai Stavseth of Arctic Securities say a thin tonnage list is helping the market with one fixture out of the Gulf for Thailand priced at $120,000 per day.
“This marks the highest VLCC spot rate paid so far in 2015. While the fixture was a replacement cargo and thus above the actual market, VLCC spot rates are currently quoted above $100,000 per day,” he said.
Data from Tankers International shows the Koch-controlled, and ironically named, 316,400 C Prosperity (built 2009), has been fixed by PTT out of the Arabian Gulf for Thailand at Ws 95. The vessel is owned by SK Shipping.
TI places the actual rate at $166,471 per day including idle days and $109,374 with idle days excluded.
John Angelicoussis is also enjoying the strong market. His 306,344-dwt Maran Castor (built 1999) has been fixed at Ws 87.50 out of the Arabian Gulf for Thailand. TI says the rate is equal to $103,366 per day including idle days.
“We expect the crude tanker market to remain firm going forward, supported by a very short tonnage list and continued high export volumes out of the Middle Eastern Gulf,” Stavseth said.
IOC has fixed the Eastern Mediterranean Maritime tanker, the 308,800-dwt Adventure (built 2005) out of West Africa for the west coast of India at $92,978 per day including idle days, TI says.
“In West Africa it was also rather busy yesterday, with charterers now reaching into the latter parts of December, and even into early January,” Fearnley Securities said.
Howe Robinson Partners placed VLCC rates at $97,021 globally last night when adjusted for slow steaming and $115,534 per day at design speed.