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Supertanker Rates Helped by Increased Cargoes, SSY Futures Says

SSY Futures Ltd., a unit of the world’s second-largest shipbroker, comments by e-mail on demand for supertankers loading 2 million-barrel cargoes of Middle East crude oil.

Charter rates on the industry’s benchmark Saudi Arabia-to- Japan route climbed 5.4 percent to 58.24 Worldscale points on Dec. 3, giving owners daily returns from the voyage of $15,019 a day, according to the Baltic Exchange in London.

“The end of last week brought a small flurry of cargoes to the market, and some owners have reportedly fixed at Worldscale 60 level on the back of this.”

“Now as a new week begins, little outstanding enquiry is seen, being still early in the month, it’s likely that things will go quiet once again.”

“For now rates should hold, but an inactive market will likely change the resilient sentiment.”

To contact the reporter on this story: Alaric Nightingale in London at anightingal1@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.

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