OPEC Monthly Oil Market Report – November 2017
Clean tanker freight rates
Clean tanker spot freight rates
dropped 9% on average in October, compared with the previous month.
The decline was registered on fixtures in both directions of Suez, where rates edged down on all selected
Table 7 - 6: Clean spot tanker freight rates, Worldscale
, spot freight rates for tankers operating on the Middle East-to-East and Singapore-to-East routes
dropped by WS15 points and WS12 points, respectively, from the previous month. The medium-range tanker
market was quiet in October, with cargo flows being insufficient to grant any growth to freight rates especially
taking into account the prevailing tonnage surplus, leading to an overall reduction in freight rates in the
Similarly, the clean tanker market in the
was mostly uneventful in October and ships were lining up
even for prompt dates. Consequently, clean spot freight rates on the NWE-to-USEC route dropped by
WS23 points to stand at WS111 points. The Mediterranean-to-Mediterranean and Mediterranean-to-NWE
routes also dropped by 4% and 3%, respectively, to stand at WS158 and WS169 points, respectively.
Aug 17 Sep 17 Oct 17 Oct 17/Sep 17
East of Suez
West of Suez
Northwest Europe/US East Coast
Sources: Argus Media and OPEC Secretariat.