Light bookings support long range tanker rates

[LONDON] Clean tanker rates on major export routes were mixed on Monday with light bookings providing modest support to the transatlantic and larger long range markets.

Rates for medium-range (MR) tankers for 37,000 tonne cargoes on the TC2 route from Rotterdam to New York were at W143.13 in the Worldscale measure, or US$12,800 a day when translated into average earnings.

That compared with W140.21 or US$12,091 a day on Friday and W152.08 or $14,835 last Monday. Earlier this month earnings reached their highest level since early August last year. "The (transatlantic) market held up longer than expected on steady activity as the gasoil and ULSD (ultra low sulphur diesel) arbs opened, providing westbound cargoes while the gasoline arb remained closed," broker SSY said.