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FREIGHT: Mideast Tanker Surplus Falls on Week

FREIGHT
Energy BulletsBulletCommodities

An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days shrank to 21%, according to Bloomberg sources.

  • The average for the past 12 months is 24%.
  • “The crude segment appears primed for an emergence from the seasonally softer market seen during 3Q” Gibson Shipbrokers said, cited by Bloomberg.
  • Earnings on the benchmark ME-China route were $38,910, according to Bloomberg citing Baltic Exchange data.
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An excess of supertankers in the Middle East compared with crude cargoes for the next 30 days shrank to 21%, according to Bloomberg sources.

  • The average for the past 12 months is 24%.
  • “The crude segment appears primed for an emergence from the seasonally softer market seen during 3Q” Gibson Shipbrokers said, cited by Bloomberg.
  • Earnings on the benchmark ME-China route were $38,910, according to Bloomberg citing Baltic Exchange data.