The hire rates for crude carriers have seen a dramatic decline in August, 2015.
8VLCCs registering the highest rate drop in the dirty segment, down by 40% from the previous month.
8Freight rates remained under pressure mainly due to high tonnage availability and limited demand, as is usual during the summer season.
8This is good news from Indian refiners as the fall in crude price is aided by a fall in carrier rates.
8Suezmax freight rates came under pressure in August on low requirements, leading to tonnage buildups.
8Aframax freight rates dropped on all reported routes in August, with no exception. On average, Aframax freight rates were 15% lower than a month earlier.
8Generally, ship owners preferred to fix short-haul voyages in anticipation that the downward trend will be corrected ahead of winter season demand.
8Clean tanker rates were also down as a result of lower freight rates seen in the West of Suez.
8An inactive market and low product trade affected ocean tankers in several classes.
8In August, bunker prices reached their lowest level in multiple years, and this helped to balance voyage costs and maintained ship owners’ earnings.
8The website here also carries the details of the Tanker Spot chartering rates, Sailings and Arrivals ( mb/d) data from across the world.
For more details visit indianpetroplus.com
8VLCCs registering the highest rate drop in the dirty segment, down by 40% from the previous month.
8Freight rates remained under pressure mainly due to high tonnage availability and limited demand, as is usual during the summer season.
8This is good news from Indian refiners as the fall in crude price is aided by a fall in carrier rates.
8Suezmax freight rates came under pressure in August on low requirements, leading to tonnage buildups.
8Aframax freight rates dropped on all reported routes in August, with no exception. On average, Aframax freight rates were 15% lower than a month earlier.
8Generally, ship owners preferred to fix short-haul voyages in anticipation that the downward trend will be corrected ahead of winter season demand.
8Clean tanker rates were also down as a result of lower freight rates seen in the West of Suez.
8An inactive market and low product trade affected ocean tankers in several classes.
8In August, bunker prices reached their lowest level in multiple years, and this helped to balance voyage costs and maintained ship owners’ earnings.
8The website here also carries the details of the Tanker Spot chartering rates, Sailings and Arrivals ( mb/d) data from across the world.
For more details visit indianpetroplus.com
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