News Headlines:
Benchmark Oil Supertankers Turn Deeper Into Loss-Making Zone (Bloomberg)
Earnings for hauling oil on the benchmark Middle East-to-China route dipped to -$301/day, according to Baltic Exchange data.
* That’s down $295; rates edged lower on a Worldscale basis, to 40.27
* The biggest move for dirty tankers was on the TD9 Caribbean to U.S. Gulf Coast route, which rose 9% to WS 141.25
* For clean tankers, biggest move was on the TC1 Middle East- Japan route which fell 3.6% to WS 90.71
OIL DAYBOOK EUROPE: China to Cut Fuel Exports; U.S. Energy Costs
China, Asia’s biggest oil refiner by capacity, is set to slash fuel exports as it keeps more supplies for domestic use amid a power crisis stemming from coal shortages. Outflows of oil products such as diesel and gasoline are expected to slip this month due to tighter balances nationwide. This trend should continue through the fourth quarter.
* OIL FUTURES: Oil Edges Higher as Investors Assess Demand Outlook Over Winter
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FIS Tankers Daily Report 2021-10-14
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