Clean tanker rates mostly higher, Med slightly down

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jan 2010

Clean petroleum tanker rates on top global export routes were mostly higher, with major routes rising and slight gains emerging in short-tonnage activity. "The Eastern markets remained flat this week, as the West saw mixed fortunes. A very stable week across all sizes, with rates maintaining," shipbroker E.A. Gibson wrote in a report.
Typical Long Range 2 (LR2), 75,000-tonne shipments from the Middle East Gulf to Japan rose to W145.42 from W137.38 last week.
Smaller Long Range 1 (LR1), 55,000-tonne loads rose to W154.81 or $12,746 a day, from W147.31 last week.
Weather delays across Europe and the Black Sea eased, with transit time now down to around 11 days from 15 days, trader said.
"The market east of Suez was stronger compared to what was seen last week with LR2s on the MEG/Japan route now fixing at W145 basis," broker Fearnleys said in a report.
Transatlantic rates from Rotterdam for 37,000-tonne vessels were lower, falling to W186.67 from W209.17 last week.
In the Mediterranean, 30,000-tonne shipments ex-Algeria to southern Europe were down at W229.31 from W232.25 last week.

Source: Reuters