Free Trial

WAF VLCC Rates Fall Back Over 10%

OIL

WAF VLCC freight rates for West Africa loading voyages fell by more than 10% on the day Feb 21 according to Platts. Its sources pointed to rebalancing following significant gains earlier in the month.

  • Platts assessed the rate for the key 260,000 mt WAF-East route on Feb. 21 at $26.31/mt, down 13% from $30.22/mt on the previous day.
  • The WAF-East VLCC market had firmed significantly during the first two decades of February, rising by 49% from $20.97/mt at the start of the month to hit an eight-month high of $31.28/mt on Feb. 19.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.