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Suezmax honeymoon comes to abrupt halt.
(From Lloyds List)
Byline: Mike Grinter in Hong Kong
Tankers
AFTER a bumper week for suezmax owners last week, the wind has dropped out of their sails and the balance is turning in the cargo owners' favour.
'The nice balance between tonnage and cargoes' cited by a Norwegian broker last week, which he predicted to continue, simply vapourised, leaving a large bunch of owners with ships waiting out on West African waters for whatever they could get.
The immediate result of the dearth of cargo was a plunge in the rates for shipments out of West Africa to Europe and the US Gulf.
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