HONG KONG: In general, improved sentiment was seen in September in the tanker market, more obviously for larger vessels. Tanker freight rates registered an increase of 27% and 5%, for VLCC and Suezmax classes, respectively, while Aframax closed the month with freight rates down from the previous month by 4%. The VLCC market – which experienced the highest gains of all reported classes in the dirty tanker segment in September – was volatile, as its activity levels fluctuated, thus leading to higher rates, mainly in the Middle East and West Africa.
VLCC freight rates in September also benefitted from occasional tight tonnage supply and delays in Asian ports. Suezmax classes experienced lower gains as demand remained limited in light of sufficient tanker availability. Aframax freight rates dropped on average; this was driven by low tonnage demand in the Mediterranean. Clean spot freight rates were mostly weak in September, declining on the back of limited requirements and low market activity in both the East and West of Suez, despite exceptions in the West which somewhat offset losses on other routes.
Shipping activity at Port Qasim on February 11
KARACHI: Three ships namely, Glen Canyon, Al-Salam- II and TSM Pollux carrying Containers, Gas oil and Palm oil were arranged...
