Spot freight rates to transport 100,000 mt crude and dirty product cargoes from the Baltic to the UK Continent climbed to a nine-month high on tight tonnage and icy weather, according to sources and Platts data Friday.
Freight rates on the route increased Worldscale 20 on the day Thursday to be assessed at w170, equating to $15.96/mt, the highest level since April 12, 2013, when they were at $16.03/mt.
Sources said the increase in rates was due to a tight tonnage list and increasing amounts of ice in the Baltic Sea.
"The rates are firming at the moment, there is a tight tonnage list, there's more ice in the Baltic and ships have been ballasting to the Med," said a North Sea-based shipbroker.
"Ice is starting to form in the Baltic and the firm sentiment from the Med have combined to push up rates," said a second shipbroker.
Shipping sources reported the Suvorovsky Prospect on subjects to Shell for February 1-2 loading from Primorsk to the UK Continent at w170. A source at shipowner Sovcomflot declined to comment on the fixture.
Freight rates on the route increased Worldscale 20 on the day Thursday to be assessed at w170, equating to $15.96/mt, the highest level since April 12, 2013, when they were at $16.03/mt.
Sources said the increase in rates was due to a tight tonnage list and increasing amounts of ice in the Baltic Sea.
"The rates are firming at the moment, there is a tight tonnage list, there's more ice in the Baltic and ships have been ballasting to the Med," said a North Sea-based shipbroker.
"Ice is starting to form in the Baltic and the firm sentiment from the Med have combined to push up rates," said a second shipbroker.
Shipping sources reported the Suvorovsky Prospect on subjects to Shell for February 1-2 loading from Primorsk to the UK Continent at w170. A source at shipowner Sovcomflot declined to comment on the fixture.