VLCC Chartering is On the Top Position, Rising by 93% on the Week and Getting at One-Month High
The VLCC has gotten at the top position by chasing the few past years, in accordance with shipbroker Charles R. Weber happily said that the pace of VLCC chartering is rapidly growing and was at one-month high this week. It is the busiest VLCC market by following last few weeks. A total of almost 27 fixtures were stated in the Middle East market. There is some more that shows the seven reported in the West Africa market. Before you continue to read, check out parcels shipping services from UK to Pakistan first.
All of these were accounted on units ballasting from Asia. The Shipbroker said that it is too much good, rates corrected greatly over the course of the week, including the benchmark AG-FEAST assessment setting a new YTD low of ws46 towards the very close of the week, in spite of the corresponding great level of draws on Middle East accessibility.
What is According to C.R?
C.R Weber said that there is one factor behind this week rate slump that is not only much but also huge of Middle East market inquiry was oriented to the start and the end of the week, leaving the mid-week period which badly impacted sentiment. There is one more factor behind this week rate losses was the point that characters were captured nearer forward dates that alleviated a few of the uncertainty inherent to little forward windows amid ongoing operational delays in the big continent of the world namely Asia.
What’s About Middle East?
There is something about the rates on the AG-FEAST that were dropped 12 points over the period of the week to a much more closing assessment of ws48. Corresponding TCE was dropped 32% to ~$30,134/day. Rates to the USG via the Cape fell 5.5 points to a very closing assessment of ws33.5.
What’s About Suezmax?
The levels of chartering activity in the West Africa market were greatly unchanged this week, including a total of 12 fixtures offering a weekly increase of one.
What’s About Aframax?
The Shipbroker said that the Caribbean Aframax market started the week with strong rate that was gained after wondering demand materialized last week, including the positive sentiment extending to amazingly start of this week.
What’s About Panamax?
The Caribbean Panamax market was markedly more active in this week with a surge of regional fixtures appearing early week during some swaps and stronger Aframax rates contained to the pressure.
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