Bloomberg News

Europe-U.S. Gasoline Cargoes Seen Falling in Shipbroker Survey

June 19, 2013

The number of gasoline cargoes booked for shipment to the U.S. from Europe will decline over the next two weeks, a Bloomberg News survey showed.

Traders will charter a total of 17 Medium Range tankers for loading to July 2, the median in a survey yesterday and today of six shipbrokers and traders showed. That compares with 21 vessels, each normally carrying 37,000 metric tons of the auto fuel, in a corresponding survey last week. There are 29 ships available for the trade, one more than last week.

Tankers plying the trans-Atlantic route were earning $7,354 daily as of yesterday, the lowest since Nov. 26, according to the Baltic Exchange in London.

Eleven of the 17 charters have been completed and the rest are anticipated, the latest survey showed. Ship bookings often contain clauses allowing vessels to sail to different ports.

The survey is based on the industry’s benchmark Rotterdam-to-New York voyage, which takes about 11 days at 12.5 knots, according to the sea-distances.com website. Below is a table of ships chartered, probably hired and available to be booked for the journey loading over the two-week periods from the dates shown.

*T June 18 June 11 Change Ships Hired 11 12 -8.3% Expected Charters 6 9 -33% Total Hired 17 21 -19% Available Ships, Europe-U.S. 29 28 +3.6%




To contact the reporter on this story:
Rob Sheridan in London at 
rsheridan6@bloomberg.net

To contact the editor responsible for this story:
Alaric Nightingale at 
anightingal1@bloomberg.net




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