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Black Sea-Med Handysize dirty tanker freight rates rise on increased activity
Black Sea-Mediterranean Handysize tanker freight rates have risen to a one-month high on the back of increased activity, according to sources and Platts data.
The cost of transporting dirty product cargoes on the Black Sea-Med route, basis 30,000 mt, was assessed at Worldscale 200 Friday, equating to $21.45/mt, the highest level since February 18.
Freight rates increased w20 over the course of last week.
Sources said an increase in the number of cargoes entering the market last week was the primary driver. "There have been eight cargoes covered out of the Black Sea in the last couple of days, and still two or three to be covered," a shipbroker said Friday.
The number of vessels that went on subjects last week had made the position list extremely tight, sources said.
The recent fire at Italian Eni's Gela oil refinery in Sicily was also said to have impacted the market last week.
"The fire at Eni Gela refinery has caused a number of vessels not being discharged and are now diverted to other ports where they have to wait for discharge," said a charterer active in the region. "All this has led to some tightness in the 30,000 mt dirty market."
Source: Platts
The cost of transporting dirty product cargoes on the Black Sea-Med route, basis 30,000 mt, was assessed at Worldscale 200 Friday, equating to $21.45/mt, the highest level since February 18.
Freight rates increased w20 over the course of last week.
Sources said an increase in the number of cargoes entering the market last week was the primary driver. "There have been eight cargoes covered out of the Black Sea in the last couple of days, and still two or three to be covered," a shipbroker said Friday.
The number of vessels that went on subjects last week had made the position list extremely tight, sources said.
The recent fire at Italian Eni's Gela oil refinery in Sicily was also said to have impacted the market last week.
"The fire at Eni Gela refinery has caused a number of vessels not being discharged and are now diverted to other ports where they have to wait for discharge," said a charterer active in the region. "All this has led to some tightness in the 30,000 mt dirty market."
Source: Platts
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