Suezmax Daily

The Suezmax market

[Suezmax Daily @suezmaxdaily]

@2_contango Double Feb, rumours are 39 Smax cargoes up from 20

[Suezmax Daily @suezmaxdaily]

@2_contango Watch TD6 next week.....

[Suezmax Daily @suezmaxdaily]

@2_contango I’d think Sinokor would have low tonne days, they are often prompt and unfixed for considerable time!

[Suezmax Daily @suezmaxdaily]

@2_contango Could see a reversal here given the recent revival of the clean market versus Afra/Suez rates?

[Suezmax Daily @suezmaxdaily]

@AyusoValue @2_contango @thevilthatmendo See Lars’ latest tweet, sums it up!

[Suezmax Daily @suezmaxdaily]

@AyusoValue @2_contango @thevilthatmendo Counterintuitive isn’t it. Suez felt pain when the Red Sea “closed” as less West > East arb and then AG/West became more of a V trade. You’d think Suez were set to gain but the opposite happened.

[Suezmax Daily @suezmaxdaily]

@AyusoValue @2_contango @thevilthatmendo Red Sea worth a watch too, if we see more Owners/Charterers going through, that’s a further support for Suez (at detriment to Vs)

[Suezmax Daily @suezmaxdaily]

@2_contango @thevilthatmendo And given how strong the East is on Suez (helped by clean up) with AG/East going from 130x77.5 up to w110 I don’t think any sane Owner will ballast COGH which is what has killed the TD20 over the last month. Not going to the moon yet but it’s the building blocks

[Suezmax Daily @suezmaxdaily]

If you look at the TD20 / TD3 spread for Dec it averaged in at above w40 and spot print is circa w9 (which shouldn’t be sustainable). TD20 Jan was always doomed given how cheap the Vs were back in Dec when the prog was traded. Should start to see a reversal of this as we get towards Feb but still needs some work.

[Suezmax Daily @suezmaxdaily]

@ed_fin This is where we see the small ships start to kick on. You could get 2x Suez very close to that (maybe even less) without wearing that itin risk (almost zero fat). Come on the small ships

[Suezmax Daily @suezmaxdaily]

@ed_fin Trafi and Sinokor have already broken up?

[Suezmax Daily @suezmaxdaily]

@2_contango Wonder if Trafi VLCCs will now end up ballasting from China to do X-Nigeria into Dangote at 650k. What a combo… let’s see if it lasts

[Suezmax Daily @suezmaxdaily]

@2_contango Feb cargoes USG/UKCM v unlikely to go on Vs now (also why go short at that money). Feb should hold more support for “small ships”, as they catch up

[Suezmax Daily @suezmaxdaily]

@ed_fin Clean me up

[Suezmax Daily @suezmaxdaily]

Quite a spread looking back a month. Vs up 97% whilst Suez down 20% and Afra down 24%. While I agree all the headlines (ignoring wildcards) suggest Vs will benefit the most, smaller ships should have some more potential than many are making out, given rates are down month on month.

[Suezmax Daily @suezmaxdaily]

@2_contango V interesting. Do you have the data that compares it versus last week?

[Suezmax Daily @suezmaxdaily]

@2_contango Just need the Suez to wake up

[Suezmax Daily @suezmaxdaily]

I don't think there was much point in coming in today. Busy start to the week but any potential has been taken out by activity levels dropping off at the back end. #freight #oil #shipping #oott

[Suezmax Daily @suezmaxdaily]

Happy Friday... Better week on VLCCs but still trying to work out how none of the positivity has trickled down to Suezmaxes and how rates remain flat at w52.5 for TD20 (let's ignore the w50). #oil #oott #freight #shipping #bear

[Suezmax Daily @suezmaxdaily]

What's happening? Twitter is asking... on the Suezmaxes? Very little... Roll on next week! #shipping #oil #oott #freight #tanker