MR rates jumped up on Friday as returns from Atlantic gasoline cargoes
took off by 35%.
RS Platou Markets says income from gasoline cargoes between Europe and the US shot up by world
scale 30 on Friday to reach Ws 175, equivalent to $22,000 daily.
“The transatlantic gasoline arbitrage has widened, hence spurring import
demand, and continued healthy imports into West Africa have likely thinned
tonnage off the continent,” its morning report read.
Activity is also high in the VLCC market, but rates are largely unmoved
at around $23,000 daily due to the abundance of vessels available, Platou says.
DNB Markets counts 81 VL fixtures for January loading as business
increases as market players return from holidays.
“The
January programme, which is set to end around mid-month is running slightly
behind last month’s pace which means that activity is likely to stay high
following the usual slow Monday's in shipping,” analyst Nicolay Dyvik said.
“In
terms of supply growth there are as many as 92 VLCCs available over the next
4-weeks in the Arabian Gulf which makes us believe rates will continue to stay
unchanged despite activity pick-up.
“Refinery
maintenance will increase from January to March which will keep activity and
rates low.”
