Spot rates for Aframax dirty tankers on Caribbean routes weakened further, under pressure from softer European markets, brokers said on Thursday. Rates for 70,000 tonne dirty cargoes moving between the Caribbean and the US Gulf Coast fell to W200 from W210 seen earlier this week and W225 a week ago, they said.
"Tankers rates are expected to rise soon, especially after Saudi Aramco chartered a few tankers for April loading," a shipping analyst said, referring to Very Large Crude Carriers (VLCCs).
"It is a bullish signal since refiners have not been notified of the loading dates for April yet." VLCC rates typically provide direction for smaller-capacity tanker markets. Caribbean 70,000-tonne upcoast trade to the US Atlantic Coast freight derivatives were stable, according to IMAREX.
The front-month March contract were pegged at W180, unchanged from Tuesday. The April contract edged W3 higher to W161. The Baltic Exchange international dirty tanker index closed at 1,065 points, up 2 points from the previous day and down 29 points from Tuesday.
Cape Akrotiri was booked by Stusco at W202.5 to load in Mexico on March 14, and a Hedimar tanker was fixed by Citgo at W210 to load on March 15. In the Suezmax market, rates for 135,000-tonne capacity tankers sailing from West Africa to the United States were mostly stable at W102.5.
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