In the previous part of the series, we saw how the BDTI (Baltic Dirty Tanker Index) changed in the week ending January 27, 2017. In this part, we’ll look at crude (DBO) tanker rates. Let’s see which tankers performed the best in week four.
According to the Weber weekly report, the VLCC demand in the Middle East and West African market combined was 39 fixtures—5% higher week-over-week. Although the demand increased, VLCC rates in week four softened due to a larger supply of vessels.
According to the same report, VLCC rates on the benchmark route fell to ~$39,665 per day on January 27, 2017, from ~$47,231 per day on January 20, 2017. The average rate for all VLCC routes fell from $48,035 per day to $41,478 per day. DHT Holdings (DHT) and Euronav (EURN) primarily operate VLCCs.
According to the Weber weekly report, the Suezmax market was also hit by the supply-demand imbalance in week four. In the West African market, nine fixtures were reported—one less than last week.
According to the same report, the Suezmax rate on the benchmark route fell from $14,495 per day on January 20, 2017, to $11,398 per day on January 27, 2016. The average rate for all Suezmax routes fell from $18,207 per day on January 20 to $14,426 per day a week ago.
According to the Weber weekly report, Aframax rates on the Caribbean route fell from $27,746 per day on January 20 to ~$24,606 per day on January 27, 2017. However, the average rate for all Aframax routes almost remained constant at ~$25,240 per day.