Dirty Tankers West of Suez Commentary.

Catogory : Announcements

Aframax prices were steady in the Mediterranean Tuesday with sentiment firm due to delays in the Black sea, while Suezmaxes saw lower prices in West Africa to due to weak demand, sources said.

There was a steady volume of cargo being traded in the Black Sea and Mediterranean and the position list was getting tighter, but prices were stable and the cross-Mediterranean Aframax route, basis 80,000 mt, was assessed flat at Worldscale 100. The Sheskaris terminal at Novorossiisk remained closed with about 13 ships in the queue. Some charterers have been forced to amend loading dates on cargoes due to delays in the past week, sources said. The Baltic to UK Continent Aframax route, basis 100,000 mt, softened further though, and was assessed at w72.5, down w5. Eni was said to have the Antonis on subjects at that level for an ex-Baltic crude stem loading October 13.

The tonnage list continued to outstrip supply for natural loading dates and prices may fall further, sources said. Suezmax demand has slackened in West Africa where there was plenty of tonnage available off early dates, putting pressure on shipowners, sources said. The West Africa to UK Continent, basis 130,000 mt, was assessed at w77.5, w2.5 lower. The Black Sea-Med Suezmax route, basis 135,000 mt, also fell, by w2.5 to w87.5.