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Thursday, October 18, 2018


128 U/VLCCs were, according to Marinav Geneva, fixed with laycan July, which is one below the record number of 129 from April. The busiest months in previous years have been:

1999 118 fixtures in October

1998 117 fixtures in May

1997 108 fixtures in October, and

1996 98 fixtures in June

On average the busiest month in these years has been October (on average 108.8 fixtures) with July as the second busiest (104.4 fixtures).

VELA, the biggest U/VLCC charterer over the last years, did 11 fixtures in July, Ssangyong 10 and SK 9 fixtures. Altogether 45 charterers were active in the market in July, according to Marinav.  Over the period January to July, however, VELA and Shell have reduced their number of fixtures since last year by 7 and 4 respectively, whereas the South Korean charters Ssangyong Hyundai and SK have together increased the number of fixtures during this period by 38 compared to the same period last year.

The largest AG U/VLCC charterers January to July 2000 have been (1999 in parentheses):

VELA 59 fixtures (66)

Shell 58 fixtures (62)

Ssangyong 59 fixtures (45)

SK 37 fixtures (28)

Hyundai 33 fixtures (20)

According to Marinav, 155.2 mil tonnes of spot cargo have been moved Eastward from the Middle East Red Sea area so far this year compared to 114.5 in 1999, an increase of 35.6%. Some 60.9 mil tonnes of spot cargo have been moved Westward from the Middle East Red Sea area so far this year compared to 57.2 in 1999, an increase of 6.5%. Fixtures to the Red Sea have declined by 2.5 mil tonnes to 18.1 mil tonnes.

For further market information, please visit the INTERTANKO tanker market pages on our web’s members' area.