Spot tanker rates soar due to Harvey outages

Logistics Tankers

Uncertainty around extent of downtime at US refineries has charterers worried.

Spot
shipping
rates
for
clean
tankers
rose
sharply
on
Tuesday
as
charterers
put
vessels
on
subjects
at
rates
not
seen
since
last
April.

The
length
of
outages
at
US
refineries
caused
by
Hurricane
Harvey
is
opening
arbitrage
trades
both
to
the
US
East
Coast
and
South
America.
There
was
limited
information
about
actual
firm
fixtures.
But
traders
are
securing
ship
capacity
ahead
of
potential
cargo
deliveries.

Medium-range
tankers
(MR)
for
the
Baltic
Exchange’s
TC2
Europe-to-US
East
Coast
voyage

Importing and managing the logistics of your precious freight is no easy task. Compliance to U.S. Customs & Border Patrol is essential to your cargo clearing customs. Use a freight forwarder to lower your chances of having shipment delays and to oversee all of your international freight logistics. Contact a customs broker to file your ISF and issue any pre-alerts to avoid penalties and delays, and arrange your ocean freight and imports customs clearance.



Michael Angell