Rates edge up as activity increases

There was a healthy demand for very large crude carriers (VLCCs) from the Gulf, particularly to Far East destinations, with a total of 28 fixtures concluded amounting to 7.2 million tonnes.

Monday, 7 October, 1996, 12:00am

Crude tanker rates steady

Middle Eastern crude tanker rates were steady with an upwards bias in a busier market, brokers said. Chartering activity built on the upturn seen last week. Shipbrokers said all the tankers were fixed East with GSSK taking a 250,000 tonne cargo on the Crane Princess to Japan.

23 Aug 1996 - 12:00am

All bad news for VLCC owners

RETURNS for owners trading very large crude carriers (VLCCs) out of the Middle East Gulf last week continued to be abysmal, with older, high-consumption, steam-turbine vessels earning the timecharter equivalents of about US$3,500 to $4,000 a day on voyages to the east.

15 May 1995 - 12:00am

Volume rises as owners gain ground on losses

JUST to prove its perversity, not only did the tanker market accomplish an increased volume of business last week, it also arrested the decline in rates, with owners regaining some of the ground they had lost previously.

About 30 VLCCs and ULCCs were fixed, of which over half were to Eastern destinations.

27 Feb 1995 - 12:00am

Far East takes bulk of crude trade

IT was ever thus in the tanker market: the volume of business concluded goes up and the rates go down.

So it was again last week with 17 very large crude carriers (VLCCs) and ultra large crude carriers (ULCCs) being fixed out of the Middle East Gulf compared with the previous week's 11.

20 Feb 1995 - 12:00am

Oil shipments maintain level but rates fall

THE pattern of very large crude carrier (VLCC) and ultra large crude carrier (ULCC) utilisation from the Middle East Gulf has been remarkably similar to the previous week with 11 units fixed.

13 Feb 1995 - 12:00am

VLCC rates show a small improvement

DESPITE an active very large crude carrier (VLCC) market from the Middle East Gulf with some 32 units totalling about 8.2 million deadweight tonnes (dwt) being fixed, rates showed only a small improvement towards the end of the week.

Owners with certificate of responsibility (COFR) tonnage were particularly disappointed as there was no inquiry for United States discharge.

5 Dec 1994 - 12:00am

Large tonnage reaps rewards of recent surge in activity

DESPITE a lack of activity, owners operating large tonnage from the Middle East Gulf saw some improvement in rates last week, the cumulative effect of a recent high volume of fixing and a marked increase in utilisation of large tonnage from other areas.

17 Oct 1994 - 12:00am

Owners finally break through charterers' drive to crush rates

INACTIVITY in the Middle East Gulf on the very large crude carrier (VLCC) and ultra-large crude carrier (ULCC) market over the past three weeks has been a determined effort by charterers to push down rates.

29 Aug 1994 - 12:00am

Fixings increase fails to stimulate rate improvement

LAST week saw 20 very large crude carriers (VLCCs) and ultra-large crude carriers) ULCCs fixed out of the Middle East Gulf, more than 50 per cent up on than the previous week.

23 May 1994 - 12:00am

VLCCs continue to suffer from ridiculously low rates for cargo

RATES last week continued to be totally ridiculous, with very large crude carriers (VLCCs) of about 250,000 tonnes, trading to Singapore and South Korea, forced to accept Worldscale (WS) 30.

Operators on the Japan run managed a small premium at WS 33.5.

7 Feb 1994 - 12:00am

Festive season sees rates tumble to bargain-basement levels

SHIPOWNERS have been emulating the British retail industry by holding sales over the Christmas and New Year period, during which rates for very large crude carriers (VLCCs) have dropped as low as Worldscale (WS) 32.5 for voyages to the West, but the plunge has now been arrested.

10 Jan 1994 - 12:00am

Review to focus on Aframax

LONDON-based ship broker Howard Houlder and Partners is introducing a new monthly tanker report to the shipping community with special reference to Aframax tankers.

Issued in the middle of each month, the HHP Monthly Tanker Market Report promises to provide analysis of the previous month's world market in Aframax tankers.

24 Nov 1993 - 12:00am

VLCC rates slide back into doldrums

LAST week saw a down turn in demand with only 11 vessels of three million tonnes utilised, and the market returning to around WS (Worldscale) 40.

However, the market level for a very large crude carrier (VLCC) to the West was hard to gauge. Few fixtures have been reported in this area other than a 230,000 tonner to Aruba at WS 40.

10 May 1993 - 12:00am

Holiday offers little cheer to battling owners

THE Easter break had done little to brighten the year for owners, with the market little changed.

Rates for very large crude carriers (VLCCs) to the west are somewhat volatile, ranging between the Worldscale (WS) 41 and WS 43.75, while to the East the variation is greater, with WS 45 being the highest and WS 41.5 the lowest for voyages to Singapore.

19 Apr 1993 - 12:00am