Freight rates for large oil tankers (VLCC) have experienced fluctuations in the global market over the past week and seem to have reached their lowest point. According to reports, rates on various routes, especially from the Persian Gulf to China and from Africa to China, have decreased.
Rate Analysis on Main Routes
On the TD3C route (270,000 tons from the Persian Gulf to China), rates have increased from 1214.5 to 1262.5 (WS), and daily TCE production has reached $1,345,710. Also, on the TD15 route (260,000 tons from West Africa to China), rates have increased by 82 points to 633.75 (WS), bringing daily TCE to $632,191.
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Market Trends and Pressure on Rates
In various markets, including the U.S. coasts and the Black Sea, rates remain under pressure. For example, on the TD20 route (130,000 tons from Nigeria to continental Europe), rates have decreased to 713.89 (WS), with daily TCE exceeding $396,100. In the Black Sea, the TD6 route (135,000 tons from CPC to Augusta) has dropped by 116 points to 958.33 (WS), with daily TCE production reaching about $769,800.
This decline in rates is due to the increase in the supply of tankers and the decrease in demand in global markets. Currently, the supply of tankers has outpaced demand, putting pressure on rates. Given the current market situation, it is expected that rates will remain under pressure in the coming days.
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