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Saturday, October 20, 2018

Spot tanker market



The biggest trades in the tanker spot market today are AG/East and AG/West (as shown in the graph above). In these trades spot fixtures represent 42% and 35% respectively. Total trade from AG represents some 40% of total world oil trade with tankers and the spot share of that is 40%.


The trades with the largest spot shares are West Africa/West with 61%, Baltic West with 55% and West Africa/East with 50%. The trade from West Africa represents some 9% of the total oil trade with tankers.


In the relatively large trades Caribbean/North America and North Sea/Europe the spot shares are only 21% and 15% respectively. The “internal" trade is in oil company ships and represent only 5% of total. 


Based on the number of fixtures, the situation looks quite different. The three largest trades (by number of fixtures) are Caribbean/North America where the share of spot fixtures by number is 20%, AG/East where it is 42%, and Intra Mediterranean/Balkan where it is 38%.


The trade with the largest spot share is West Africa/West with 402 fixtures and a spot share of 60%. The total share of spot fixtures by number is 31% compared to 36% for the tonnage. This means that smaller tankers have relatively fewer spot fixtures. A great deal of smaller tanker trade is governed by contracts of affreightment. AG–East is the biggest area for spot trade of tankers both by volume (26% of total spot fixtures) and number (16% of total spot fixtures).


Contact: Erik Ranheim