ECC/Europe aframax Montreal/Gdańsk, Poland Round-Voyage estimate $3/bbl².
TCE estimates calculated by CR Weber for the Genmar Daphne were ~$18,517/day ECC/USG. and ~$12,759/day for Caribs/USG (rates are very depressed , we hit the $45,000/day mark last summer)
I’m not sure about the reason for a 45% premium into the Aframax units calling ECC.
|Basis Aframax 66,000MT (RV)|
Enbridge is scheduled to begin filling Line 9B with crude by Oct. 15th and gradually they will ramp-up to 300,000 per day.Then we will have the Pipeline called TCP’s Energy East, this one is a monster with 1.1 million per day in 2017.To give you an idea it us more than entire oil production in the UK or the entire North-Sea!
The volume traded in the ECC(East-Coast-Canada) is still very limited compared to USG/Caribs or Baltic/UKC
Suncor is currently displacing 4-5 aframax units/month from other regions.
Albertan shippers want to export the WCS crude to the U.S Gulf Coast, Europe, India…
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About CR Weber
George P. Los is Senior Market Analyst at Charles R. Weber.
Based in Greenwich, Connecticut, Charles R. Weber Company, Inc. is one of the oldest and largest tanker brokerage firms in the United States.
About Simon Jacques
He is the author of the Trade Shipping and Finance Wizard. For Commodity Merchants he provides the utmost quality services that encompass each facet of the Commodities and Freight business. The goal is to avoid tail-risk, understand what is the tail-risk of others and generate trade patents from this understanding. Contact for Commodity Merchant Trading (CMT) and Shipping Advisory Services
Source: Tradewinds, Canadian Cash for Genmar, 10/02/2014
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