Rates to transport crude oil in the Caribbean basin rose on fewer available ships following two days of no change last week.
Bruce Kahler, a shipbroker at Lone Star, RS Platou in Houston, said on April 27 that there was an oversupply of ships and he expected them to move out.
Three Aframax tankers, which can transport about 600,000 barrels of oil each, were hired to transfer oil for an average rate in the industry standard Worldscale measure of WS 195, according to a daily report from Lone Star, RS Platou.
A rate of WS 195 is an 8.3 per cent increase from rates on April 26 and April 27.
One tanker was hired by Citgo Petroleum Corp to transport oil from the Caribbean to the US Gulf Coast. Two others were hired by ConocoPhillips and American Eagle Tankers Inc to move oil from the east coast of Mexico to the US Gulf Coast, according to Lone Star.
Worldscale 195 is equivalent to about US$35,495 per day after expenses such as fuel and port fees, according to New York-based broker Poten & Partners.
Worldscale points are a percentage of a nominal rate, or flat rate, for a specific route. Flat rates, quoted in US dollars a ton, are revised annually by the Worldscale Association in London to reflect changing fuel costs, port tariffs and exchange rates. Overseas Shipholding Group and OMI Corp are the largest US-based oil tanker owners.
Bruce Kahler, a shipbroker at Lone Star, RS Platou in Houston, said on April 27 that there was an oversupply of ships and he expected them to move out.
Three Aframax tankers, which can transport about 600,000 barrels of oil each, were hired to transfer oil for an average rate in the industry standard Worldscale measure of WS 195, according to a daily report from Lone Star, RS Platou.
A rate of WS 195 is an 8.3 per cent increase from rates on April 26 and April 27.
One tanker was hired by Citgo Petroleum Corp to transport oil from the Caribbean to the US Gulf Coast. Two others were hired by ConocoPhillips and American Eagle Tankers Inc to move oil from the east coast of Mexico to the US Gulf Coast, according to Lone Star.
Worldscale 195 is equivalent to about US$35,495 per day after expenses such as fuel and port fees, according to New York-based broker Poten & Partners.
Worldscale points are a percentage of a nominal rate, or flat rate, for a specific route. Flat rates, quoted in US dollars a ton, are revised annually by the Worldscale Association in London to reflect changing fuel costs, port tariffs and exchange rates. Overseas Shipholding Group and OMI Corp are the largest US-based oil tanker owners.