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Med aframax rates follow Caribbean.
(From Lloyds List)
Byline: Nigel Lowry in Athens
Tankers
VOLATILITY is a condition that is most expected of the Caribbean among all of the main aframax tanker trades. Good enough reason, then, for brokers to be heard muttering this week that the Mediterranean has started looking a bit like the Caribbean.
In the Mediterranean, rates last week hovered between W160 and the high W190s, mainly due to good availability of cargoes and also to temporary closure of the Bosporus.
Coming into this week, however, cargoes have become squeezed, the straits are open and the available tonnage list has grown, forcing rates for cross-Mediterranean cargoes to under W150.
According to brokers, Black Sea liftings can command about W165, perhaps W170 for tight dates.
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