04 November 2019 ShipInsight. Don’t bet on the rout enduring. Ships in dry dock. The lack of available VLCC’s has also seen an unusual increase in the number of Suezmax tankers sailing to China with as many as 10 such tankers booked in the past few days, the broker sources said. Dirty VLCC MEG/Jap - 260,000. Large tanker owners could see a ‘green bonus’ next year from higher charter rates as vessels are withdrawn from the market to have scrubbers fitted ahead of the International Maritime Organization’s 0.5% cap on sulphur emissions from January 2020.. Aframax earnings are next expected to fall, in line with larger sizes. An ECO-tanker is projected to average US$17,300/day and US$33,000/day on the TD20 round-trip trade over this same period. For a non-ECO Suezmax, McQuilling Services projections for spot market earnings over these years is US$10,800/day and US$27,300/day, respectively. Suezmax is up 114% and 359% over the same respective time periods. 6 months Derivatives Data. 2021 has kicked off with a whisper, with reduced Middle East Gulf volumes and a tonnage build up. She was anchored at Bakirkoy anchorage at around 1000 UTC Apr 12. Another week of mostly static rates. Rates in this sector fell back slightly. 6 months Dirty Aframax UKC/UKC - 80,000. More; Global Directory. Oil tanker rates are crashing as a pact to limit global crude production begins. The report dated 09 th October 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.. VLCC. ‘Influx’ of tankers from floating storage pressure spot rates 11 June 2020 Vortexa data shows the VLCC, suezmax and aframax capacities used to store oil have been decreasing since end-May Credit: Igor Malushko. Jan 19 . 16 October 2020 12:50 GMT Updated 19 October 2020 7:34 GMT By Gary Dixon Analysts are advising owners of suezmax and aframaxes to drastically reduce vessel speed to counteract dire rates. Short-term spot tanker rates may be expected to be volatile. A Suezmax tanker is designed to carry 1 million barrels of crude oil and is generally booked on long-haul voyages; an Aframax can carry 750,000 barrels and does more local trips. Clean MR Sing/Jap - 38,000. Spot rate forecast for key crude tanker routes; Period rate forecast for Panamax, Aframax, Suezmax and VLCC; Asset price forecast for representative crude tanker ; An assessment of industry profitability; All quarterly report updates are accompanied by tables and charts in MS Excel format. Crude tanker investor pitch. 6 months Clean MR UKC/USAC - 37,000. Currently, 16 of those Suezmax tankers trade in clean cargoes – illustrative of the dynamics of the oil tanker fleet. Suezmax rates are also down 46% over two days, reaching $70,951 per day on March 19, Baltic Exchange data show. Teekay Tankers’ Fleet The following table summarizes the Company’s fleet as of May 18, 2020: Owned and Leased Chartered-in Vessels Total Vessels Fixed-rate: Suezmax Tankers 10 — … Dirty Aframax MEG-East - 80,000. When there is scarcity of ships, rates tend to go up. Weekly Tanker Report – Week 29, 2020. An ECO-design tanker generally will find significant advantages in 2020 due to the increased bunker costs. Shipping analyst Poten & Partners see the impending 2020 sulphur cap driving tanker charter rates as owners are forced to use MGO. currently see 21 conventional Suezmax tankers scheduled for delivery in 2021 and 8 in 2022. The Baltic Briefing has issued the tanker report for the 29 th week of this year. Fuels & Lubricants. Tanker Worldscale Rate. VLCC. With the collapse in Suezmax tanker rates, the share price of NAT has suffered. Third Quarter of 2020 Compared to Second Quarter of 2020. Already, tanker freight rates have fallen from the highs they reached when the market peaked in April, with all crude oil tankers seeing earnings beneath their daily break-even levels. VLCC. Both scrubber-fitted, 158,000 dwt, tankers secured contracts in July 2020, with a three-year charter each. 3 Bunker Traders in Demand as Job Market Remains Buoyant into 2021 "I would say 2020 has been our … Mfame Editor - July 21, 2020. You cannot be too rigid in your fleet analysis, as these ships can shift between dirty and clean cargoes, depending on market conditions. The tanker size was benefiting from higher VLCC rates as charterers split cargoes to secure cheaper freight, boosting demand. Global Crude Tanker (VLCC, Suezmax and Aframax) Market Insights & Forecast Report 2020 with Potential Impact of COVID-19 - ResearchAndMarkets.com September 30, 2020 07:41 AM Eastern Daylight Time At USD 11,949 per day, Suezmax earnings are also around USD 8,000 … In August 2020, completed refinancing of four Suezmax tankers with a new 3-year, $67 million term loan; Teekay Tankers now has no debt maturities until 2023. It closed at $2.91/sh on November 6, off about 41% for the year-to-date. The report dated 17 th July 2020 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities. Share via. A Suezmax tanker currently under construction has won the world's first 'ammonia-ready' designation from a classification society. Freight rates are expected to rise significantly on the back of tighter tonnage supply, increased slow steaming and stronger demand for oil shipments following the implementation of International Maritime Organization (IMO) 2020 regulations, according to speakers at the Association of Shipbrokers and Agents Cargo Conference in Miami today. Rates have gone from weakness to weakness, and for the first time in years we have seen fixtures concluded yielding negative returns – in other words owners paying for the privilege – and risk – to carry crude oil from A to B. Average spot rates have not been above Nordic American’s daily … ... IMO 2020 and the unique market dynamics of 2020 has seen it take some time to pin down what a useful crude / VLSFO model will be going forwards. 09 Nov 2020; Analysis; Michelle Wiese Bockmann @Michellewb_ michelle.bockmann@informa.com. Clean LR1 MEG/Jap - 55,000. In terms of the number of ships, the market gained 25 VLCCs, 21 Suezmax and 15 Aframax, while one Aframax and three VLCCs left. Tanker was taken under control by tugs, turned around and towed or escorted, back to Marmara sea. Anyone who has been to a shipping finance conference in the past two years knows just how important IMO 2020 upside is to the tanker industry investment thesis. If high rates last in the tanker market, they will eventually flow through to tanker owners' bottom line. Secured strong first quarter of 2020 to-date spot tanker rates of $51,700 per day and $38,600 per day for Teekay Tankers’ Suezmax and Aframax fleet, up from $39,100 per day and $33,000 per day, respectively, in the fourth quarter of 2019. Suezmax crude oil tanker MILITOS suffered engine failure in southern Bosphorus in the morning Apr 12, shortly after commencing northbound Bosphorus transit, in ballast. On 28 August, Very Large Crude Carrier (VLCC) earnings averaged USD 16,949 per day, indicating a loss of around USD 7,000 every day. When there are too many ships in an area, rates tend to go down. The supply of tanker tonnage is inelastic in the short-term. Suezmax rates lull ‘short-term’ says Nordic American Tankers Owner of fleet of 25 suezmaxes says company is ‘on its way upwards’. 231. Earnings on key trade routes plunged to 11-year low in the third quarter of the year . As of April 2020, there were 810 very large crude carriers (VLCCs) worldwide. Tweet on Twitter. Dirty Suezmax Wafr/UKC - 130,000 6 months Clean LR2 MEG/Jap - 75,000. 3.11 Global Scrapping Forecast of Crude Tanker Vessels 3.12 Global Crude Tanker Fleet Size 3.13 Global Crude Tanker Spot Rates 3.13.1 Global VLCC Spot Rate 3.13.2 Global VLCC Spot Rate Forecast 3.13.3 Global Suezmax Spot Rate 3.13.4 Global Suezmax Spot Rate Forecast 3.13.5 Global Aframax Spot Rate 3.13.6 Global Aframax Spot Rate Forecast This Forecaster annual Subscription package now includes FREE Monthly Supplements. By. The Baltic Briefing has issued the tanker report for the 41 st week of this year. Tankers. Find the right specialists from across the world. 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