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Tanker Market
OPEC Monthly Oil Market Report – June 2016
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Graph 7.2: Monthly average of clean spot freight rates
Similarly, East of Suez average clean spot freight rates dropped by a slight WS1 point
on average, as lower rates were registered for tankers trading on the Singapore-to-
East route, where a drop of WS3 points was seen in May to average WS132 points.
A slight improvement was achieved by tankers operating on the Middle East-to-East
route, which increased by 2% from a month before.
Table 7.3: Spot tanker product freight rates, Worldscale
50
100
150
200
250
50
100
150
200
250
May 15
Jun 15
Jul 15
Aug 15
Sep 15
Oct 15
Nov 15
Dec 15
Jan 16
Feb 16
Mar 16
Apr 16
May 16
Worldscale
Worldscale
Middle East/Far East
Northwest Europe/USEC
Mediterranean/Mediterranean
Sources: Argus Media and OPEC Secretariat.
Size
Change
1,000 DWT
Mar 16 Apr 16 May 16 May 16/Apr 16
Products
Middle East/East
30-35
116
100
102
2
Singapore/East
30-35
140
135
132
-4
Northwest Europe/US East Coast
33-37
100
111
119
8
Mediterranean/Mediterranean
30-35
127
172
132
-40
Mediterranean/Northwest Europe
30-35
136
182
142
-40
Sources: Argus Media and OPEC Secretariat.