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Tuesday, 05/19/2015 11:29:30 AM

Tuesday, May 19, 2015 11:29:30 AM

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Aframaxes led another day of surging crude tanker rates Monday, which saw time-charter equivalent (TCE) earnings jump by more than $1,000 per day for each of the three major segments.

VLCCs posted significant improvements both westbound and eastbound from the Middle East, in addition to the ex-West Africa trade, according to Baltic Exchange data.

Seemingly insatiable Indian Oil Corp (IOC) picked up Dynacom Tankers Management’s 300,000-dwt Marina (built 2009) for a ride from the Middle East to India’s West Coast for WorldScale WS 115, or $107,000 per day with idle days excluded, according to Tankers International (TI).

The rate marks a sizeable rise from the WS 83.5 earned last week for a similar journey.

Suezmax TCEs increased by $1,190 to reach $57,400 per day, according to the Baltic Exchange’s daily assessment.

The 159,000-dwt Maran Penelope (built 2009) earned WS 91.3 for a journey from the Middle East to Thailand on PTT’s account, according to Pareto JGO Shipbrokers. That is an unchanged from a similar journey last week.

In the Caribbean, a trip from Covenas, Colombia, to Chiriqui, Panama, on the 165,000-dwt Ridgebury John Zipser (built 2009) was worth WS 128 to Unipec, far above the WS 95 for two similar journeys on Tuesday.

Baltic Exchange data showed significant gains for cross-Mediterranean and northern Europe journeys.

But SOCAR paid WS 95 for a journey from Ceyhan, Turkey, to the Mediterranean with the 106,000-dwt Maratha (built 2003), which is unchanged from Friday’s fixtures, according to Pareto JGO.

And the 116,000-dwt Seaqueen (built 2004) earned WS 78.8 from Point Energy for a ride from the Baltic to the UK or continental Europe, which marked a downtick for a similar journey on Friday that cost WS 80.
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