A leading London shipbroker has described the trans-Atlantic clean market as a catastrophe.
It has been deteriorating in stages, according to Braemar Seascope.
"Where the market ended last week it was ‘merely appalling’," the broker said. "Now it is catastrophic."
The deterioration is aided and abetted by strong bunker prices.
In Rotterdam, the broker quoted fuel as being about $655 per tonne.
Earlier in the week, SSY calculated the timecharter equivalent for a 37,000 tonne Continent to USAC clean lifting as close to $2,000 per day.
Because
