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日本海事新聞ニュース Japan Maritime Daily May 19, 2025 (Mon)

‌【Market2025】VLCC market pick up in Middle East-China route

It is unclear whether the trend will become upward

　The spot charter market for VLCCs (Very Large Crude Carriers), which was softening, is rebounding. ・・・続きはログインして下さいnext %E3%80%80The+spot+charter+market+for+VLCCs+%28Very+Large+Crude+Carriers%29%2C+which+was+softening%2C+is+rebounding.+Currently%2C+the+Middle+East-China+route+is+%2440%2C000+per+day%2C+recovering+to+a+level+that+can+cover+the+break-even+point+even+for+comparatively+more+expensive+VLSFO+%28low-sulfur+fuel+oil%29.+In+the+third+week+of+May+%2812-16%29%2C+contracts+in+the+Middle+East+for+loading+in+late+May+and+early+June+accelerated.+In+particular%2C+shipowners+are+regaining+a+bullish+stance+after+Vietnamese+charterer+NSRP%2C+which+generally+tends+to+conclude+contracts+at+low+prices%2C+concluded+a+contract+at+a+relatively+high+recent+price+of+WS+%28Worldscale%29+60.+However%2C+there+is+still+a+surplus+of+around+30+ships+in+the+Middle+East%2C+and+it+is+unclear+whether+the+market+will+see+a+real+upward+trend+in+the+future.+%3Cbr%3E%E3%80%80%E2%80%9CDeals+for+loading+in+late+May+in+the+Middle+East+have+progressed+at+a+rapid+pace%2C+with+a+total+of+140+deals+for+May+loading.+This+exceeds+the+average+number+of+contracts+concluded+in+the+month+of+January+through+April.%E2%80%9C+%3Cbr%3E%E3%80%80Market+participants+gave+the+following+overview+of+the+current+VLCC+market+conditions.+%3Cbr%3E%E3%80%80June+loadings+in+the+Middle+East+are+also+progressing+well.+Ship+chartering+is+becoming+more+active%2C+especially+among+charterers+in+China%2C+Thailand%2C+and+Malaysia.+The+source+also+emphasized+the+rapid+pace+of+deals%2C+saying%2C+%E2%80%9CShip+chartering+was+made+behind+the+scenes+even+earlier+than+May+15%2C+when+part+of+the+stem+confirmation+%28shipping+information%29+became+clear%2C+and+as+of+May+16%2C+the+number+of+deals+had+already+exceeded+10.%E2%80%9C+%3Cbr%3E%E3%80%80What+gave+the+market+momentum+was+the+NSRP%E2%80%99s+May+14+contract+of+a+WS60+for+loading+in+Kuwait+in+late+May+and+unloading+in+Vietnam.+%3Cbr%3E%E3%80%80According+to+the+official%2C+NSRP+owns+the+SBM+floating+mooring+facility+30+kilometers+off+the+coast+of+Vietnam.+The+facility+allows+cargo+to+be+unloaded+offshore+using+loading+hoses%2C+providing+greater+flexibility+than+loading+and+unloading+at+port.+Due+to+these+characteristics%2C+in+the+spot+charter+market%2C+NSRP+places+more+importance+on+low+freight+rates+than+on+the+condition+of+the+ship%2C+and+tends+to+hire+even+older+ships.+%3Cbr%3E%E3%80%80However%2C+this+time+NSRP+purchased+a+relatively+new+ship+completed+in+2022%2C+at+WS60%2C+a+price+slightly+higher+than+the+current+market+price.+%E2%80%9CThis+has+changed+the+tide%2C+and+shipowners+have+begun+to+take+a+more+aggressive+stance%2C%E2%80%9C+said+the+same+source.+%3Cbr%3E%E3%80%80According+to+a+market+report%2C+the+WS+for+the+Middle+East-China+route+on+May+15+was+64.35%2C+up+4.25+points+from+the+previous+trading+day%2C+marking+the+third+consecutive+day+of+increase.+In+terms+of+charter+rates%2C+the+daily+rate+is+%2440%2C000+if+VLSFO+is+used%2C+and+%2448%2C000+per+day+if+high-sulfur+heavy+oil+is+used+%28equipped+with+a+scrubber%2C+or+exhaust+gas+cleaning+system%29%2C+exceeding+the+general+break-even+point+of+%2430%2C000.+%3Cbr%3E%E3%80%80However%2C+it+is+unclear+whether+the+market+will+continue+to+rebound+and+see+a+real+upswing.+%3Cbr%3E%E3%80%80The+Middle+East+has+had+a+surplus+of+ships+since+late+April.+The+size+of+vessel+surplus+had+reached+70+vessels+by+the+second+week+of+May.+Since+then%2C+deals+in+the+Middle+East+have+accelerated+and+the+surplus+of+ships+has+been+largely+resolved%2C+but+%E2%80%9Cas+of+May+16%2C+there+are+still+around+30+ships+remaining%2C%E2%80%9C+according+to+the+same+source.+%3Cbr%3E%E3%80%80In+addition%2C+a+certain+number+of+ships+without+specific+contracts+adjusting+their+positions+around+Singapore+continue+to+be+observed.+%3Cbr%3E%E3%80%80The+source+expressed+a+cautious+view%2C+saying%2C+%E2%80%9CIf+these+ships+without+specific+contracts+head+to+the+Middle+East%2C+the+market+for+Middle+Eastern+loading+will+weaken%2C+and+the+recent+rebound+and+continued+growth+may+turn+out+to+be+temporary.%E2%80%9C+%3Cbr%3E%E3%80%80Regarding+the+VLCC+market%2C+OPEC+%28Organization+of+the+Petroleum+Exporting+Countries%29+Plus+member+countries+have+decided+to+increase+production+for+two+consecutive+months+in+May+and+June%2C+and+an+increase+in+transportation+demand+is+expected.+On+the+other+hand%2C+demand+for+cargo+%28crude+oil%29%2C+which+supports+the+market%2C+is+sluggish%2C+and+even+though+the+decision+has+been+made+to+increase+production%2C+it+is+unclear+whether+transportation+demand+will+actually+increase.+%3Cbr%3E%3Cbr%3E%3Cbr%3E%3Cbr%3EDisclaimer%3A+The+English+translations+provided+through+this+service+are+the+result+of+translations+made+by+The+Japan+Maritime+Daily+or+automatically+and+mechanically+translated+by+The+Japan+Maritime+Daily+using+an+automated+translation+system+provided+by+a+third+party+after+certain+processing+of+the+Japanese+content+licensed+by+the+third+party.+In+terms+of+the+English+translation%2C+The+Japan+Maritime+Daily+and+MarineNet+Co.%2C+Ltd.+make+no+warranty+or+burden+of+any+kind%2C+express+or+implied%2C+including+its+accuracy%2C+reliability%2C+validity+or+fitness+for+a+particular+purpose.+MarineNet+Users+should+fully+understand+that+this+service+uses+an+automated+translation+system+that+automatically+and+mechanically+recognizes+and+analyzes+information+and+produces+results.+The+users+should+understand+the+above+conditions+before+using+this+service.%3Cbr%3E%3Cbr%3E%E5%85%8D%E8%B2%AC%E4%BA%8B%E9%A0%85%EF%BC%9A%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E4%BB%8B%E3%81%97%E3%81%A6%E6%8F%90%E4%BE%9B%E3%81%95%E3%82%8C%E3%82%8B%E8%8B%B1%E8%A8%B3%E3%81%AF%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%BD%9C%E6%88%90%E3%81%99%E3%82%8B%E3%81%8B%E3%80%81%E5%8F%88%E3%81%AF%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8B%E3%82%89%E4%BD%BF%E7%94%A8%E8%A8%B1%E8%AB%BE%E3%82%92%E5%8F%97%E3%81%91%E3%81%9F%E6%97%A5%E6%9C%AC%E8%AA%9E%E3%81%AE%E3%82%B3%E3%83%B3%E3%83%86%E3%83%B3%E3%83%84%E3%82%92%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%81%8C%E4%B8%80%E5%AE%9A%E3%81%AE%E5%87%A6%E7%90%86%E3%82%92%E8%A1%8C%E3%81%A3%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E7%AC%AC%E4%B8%89%E8%80%85%E3%81%8C%E6%8F%90%E4%BE%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E5%88%A9%E7%94%A8%E3%81%97%E3%81%A6%E8%87%AA%E5%8B%95%E7%9A%84%E3%83%BB%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E7%BF%BB%E8%A8%B3%E3%81%97%E3%81%9F%E7%B5%90%E6%9E%9C%E3%81%A7%E3%81%82%E3%82%8A%E3%80%81%E6%97%A5%E6%9C%AC%E6%B5%B7%E4%BA%8B%E6%96%B0%E8%81%9E%E3%80%81%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%81%AF%E3%80%81%E5%BD%93%E8%A9%B2%E8%8B%B1%E8%A8%B3%E3%81%AB%E9%96%A2%E3%81%97%E3%81%A6%E3%80%81%E3%81%9D%E3%81%AE%E6%AD%A3%E7%A2%BA%E6%80%A7%E3%80%81%E4%BF%A1%E9%A0%BC%E6%80%A7%E3%80%81%E5%A6%A5%E5%BD%93%E6%80%A7%E5%8F%8A%E3%81%B3%E7%89%B9%E5%AE%9A%E7%9B%AE%E7%9A%84%E3%81%B8%E3%81%AE%E9%81%A9%E5%90%88%E6%80%A7%E3%82%92%E5%90%AB%E3%82%81%E3%80%81%E6%98%8E%E7%A4%BA%E5%8F%88%E3%81%AF%E9%BB%99%E7%A4%BA%E3%81%AB%E3%82%82%E3%80%81%E3%81%84%E3%81%8B%E3%81%AA%E3%82%8B%E4%BF%9D%E8%A8%BC%E3%82%82%E3%81%97%E3%81%BE%E3%81%9B%E3%82%93%E3%80%82%E3%83%9E%E3%83%AA%E3%83%B3%E3%83%8D%E3%83%83%E3%83%88%E3%83%A6%E3%83%BC%E3%82%B6%E3%83%BC%E3%81%AF%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%8C%E3%80%81%E8%87%AA%E5%8B%95%E7%9A%84%E3%81%8B%E3%81%A4%E6%A9%9F%E6%A2%B0%E7%9A%84%E3%81%AB%E6%83%85%E5%A0%B1%E3%82%92%E8%AA%8D%E8%AD%98%E3%83%BB%E5%88%86%E6%9E%90%E3%81%97%E3%81%A6%E7%B5%90%E6%9E%9C%E3%82%92%E5%87%BA%E5%8A%9B%E3%81%99%E3%82%8B%E8%87%AA%E5%8B%95%E7%BF%BB%E8%A8%B3%E3%82%B7%E3%82%B9%E3%83%86%E3%83%A0%E3%82%92%E4%BD%BF%E7%94%A8%E3%81%97%E3%81%9F%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%81%A7%E3%81%82%E3%82%8B%E3%81%93%E3%81%A8%E3%82%92%E5%8D%81%E5%88%86%E3%81%AB%E7%90%86%E8%A7%A3%E3%81%97%E3%81%9F%E4%B8%8A%E3%81%A7%E3%80%81%E3%81%93%E3%81%AE%E3%82%B5%E3%83%BC%E3%83%93%E3%82%B9%E3%82%92%E5%88%A9%E7%94%A8%E3%81%99%E3%82%8B%E3%82%82%E3%81%AE%E3%81%A8%E3%81%97%E3%81%BE%E3%81%99%E3%80%82%3Cbr%3E