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Freight for the Aframax and Suezmax US Gulf Coast-Transatlantic runs rose w35 and w24, respectively, in the four consecutive trading sessions leading up to March 24, as major oil companies stepped into the fixing arena to cover third-decade March and first-decade loading US crude stems on the 70,000 mt and 145,000 mt USGC-Transatlantic runs, in ...
An Oct. 20 report from the US Energy Information Administration showed a more than 500,000 b/d uptick in weekly US crude exports over the week ended Oct. 15, but a narrowing Brent/WTI spread and rising freight rates continue to put pressure on US export economics. Crude exports in the week ended Oct. 15 were reported ...
The tanker market is still expected to face some headwinds moving forward, but as the global economy recovers, so will oil demand. In a recent market analysis, ship owner Teekay Tankers said that “crude tanker spot rates remained under pressure during the first quarter of 2021 due to the ongoing impact of the COVID-19 pandemic ...
Americas Aframax freight set to rise ahead of holiday rush after plunging 47%-56% Abundant charterer inquiry in the Americas Aframax market left sources calling freight for the benchmark US Gulf Coast-UK Continent route higher at w47.5-w52.5 early Dec. 11, after a slew of fixtures set the stage for a long-expected rise in freight for both Upcoast and trans-Atlantic Aframax routes. The market saw at least 15 Aframaxes booked Dec. 9-11 as charterers rushed to make the most of depressed freight rates after the market plunged back to near-yearly lows in the first half of December amid a build in ...