Slow down or no slow down
Tanker Markets
PORT INFO: Disbursements, Local Suppliers & More....
Oil
Steel
Grain
Email this story to a friend Free News By Email
Lack of Aframax tonnage fueling Caribs Panamax rates 18-Oct-00
A lack of available Aframaxes may be fueling rising rates for Panamax tankers, in the Caribbean. Tight Aframax tonnage supply has reportedly led charterers to fix Panamax ships with cargoes originally intended for Aframaxes.
The 1995-built United Stella, 70,260 dwt, has been reported fixed with Valero for a 60,000 tonnes crude cargo, loading Colombia October 20, for the USG at WS 300. The rate is equivalent to 50 x WS 360, which is about 15 points more than what other charterers have been paying Panamaxes for Caribs-up voyages. However, with Aframax rates at a blistering 70 x WS 345, charterers can save about $1.60 per tonne by chartering a Panamax, provided they could live with the lower cargo quantity. Bigger Panamax tankers, like the United Stella, can carry about 60,000 tonnes, or about 10,000 tonnes less than an Aframax.
|
