Daily Market Report November 16, 2018

Poten & Partners www.poten.com

Dirty Tanker Spot Market Rate Assessments

WS Rates (Basis 2018 Flat Rates) TCE Earnings (US$/day)

Cargo Week Month-to- Year-to- Month-to-
Trade Current Day Ago Current Day Ago Week Ago Year-to-Date Voyage
kt Ago Date Date Date

270 AG - FE 90.0 90.0 93.0 93.9 52.5 47,900 47,700 48,400 49,800 15,200 Ras Tanura - Ningbo
280 AG - USG 40.0 40.0 39.0 39.8 22.0 8,600 8,800 5,800 7,000 (7,700) Ras Tanura - LOOP
260 WAF - FE 86.0 87.0 90.0 90.4 52.8 43,400 44,100 44,700 45,800 13,600 Bonny - Ningbo
260 WAF - USG 91.0 92.0 95.0 95.4 57.3 54,600 55,700 56,500 57,400 20,200 Bonny - LOOP

130 WAF - USAC 117.5 117.5 117.5 115.0 68.0 30,700 30,900 29,700 28,900 8,100 Bonny - Philadelphia
130 WAF-UKC 120.0 120.0 120.0 117.5 70.5 30,900 30,900 29,500 28,600 7,700 Bonny - Rotterdam
135 BSEA - MED 172.5 172.5 145.0 150.8 86.6 92,600 91,900 70,500 75,500 28,800 Novorossiysk - Augusta
130 CAR - USG 145.0 145.0 145.0 145.0 84.2 50,900 50,900 49,100 49,500 14,900 Puerto La Cruz - Houston

80 UKC - UKC 117.5 117.5 120.0 122.5 104.4 31,600 31,400 32,400 34,500 21,200 Sullom Voe - Wilhelmshvn
80 AG - SEA 142.5 140.0 140.0 140.2 100.3 19,600 18,800 17,600 18,100 9,500 Ras Tanura - Singapore
70 CAR - USG 235.0 235.0 240.0 239.6 128.0 44,900 44,900 45,200 45,300 11,200 Puerto La Cruz - Houston

50 CAR - USG 180.0 180.0 200.0 195.0 124.4 20,800 20,900 24,300 23,300 8,100 Puerto La Cruz - Houston
50 WCSA - USG 205.0 205.0 205.0 205.0 140.7 32,700 32,800 31,700 31,900 17,000 Esmeraldas - Houston
50 WCSA - USWC 225.0 225.0 225.0 225.0 162.3 25,800 25,700 24,600 24,900 13,900 Esmeraldas - San Francisco
55 UKC - USG 135.0 135.0 125.0 130.0 108.7 15,800 15,700 12,400 13,900 9,700 Antwerp - Houston

Clean Tanker Spot Market Rate Assessments

WS Rates (Basis 2018 Flat Rates) TCE Earnings (US$/day)

Cargo Week Month-to- Year-to- Month-to-
Trade Current Day Ago Current Day Ago Week Ago Year-to-Date Voyage
kt Ago Date Date Date

75 AG - FE 120.0 120.0 122.5 121.3 99.4 13,000 12,900 12,400 12,400 9,500 Ras Tanura - Yokohama

55 AG - FE 130.0 130.0 127.5 128.1 112.2 9,100 9,000 7,500 8,000 7,100 Ras Tanura - Yokohama

38 CAR - USAC 145.0 145.0 145.0 148.3 127.1 10,400 10,500 9,900 10,600 7,900 St Croix - New York
37 UKC - USAC 140.0 140.0 152.5 139.6 128.2 7,200 7,100 8,700 6,500 6,000 Rotterdam - New York
37 UKC - WAF 155.0 155.0 182.5 153.3 143.5 9,600 9,600 13,000 9,200 8,200 Amsterdam - Lome
38 USG - UKC 135.0 125.0 125.0 127.9 94.6 7,800 6,000 5,300 5,800 1,100 Houston - Amsterdam
38 USG - ECSA 175.0 165.0 175.0 174.8 146.9 16,100 14,500 15,300 15,300 11,600 Houston - Sao Sebastiao
30 CAR - USAC 182.5 182.5 182.0 187.5 160.7 19,000 19,100 18,500 19,400 15,900 Amuay Bay - New York
33 UKC - USAC 187.5 187.5 190.0 167.1 153.9 17,500 17,400 17,300 14,400 12,400 Ventspils - New York
30 MED - USAC 187.5 187.5 190.0 167.1 153.9 11,700 11,500 11,400 9,000 7,700 Augusta - New York

Bunker Prices (US$/MT) Crude Oil & Product Prices, US$/bbl

Week Month-to- Year-to- Previous

Location Current Day Ago Grade (Source) Last Close Change
Ago Date Date Close

380 CST Crude

US Gulf 408 408 437 434 409 WTI Crude (NYMEX) 56.46 56.25 0.21
US Atlantic Coast 475 473 488 482 431 Brent Crude (ICE) 66.62 66.12 0.50
Rotterdam 412 416 443 440 408 Dubai Crude (Spot) 65.39 64.46 0.93
Fujairah 466 462 495 487 438 Brent-WTI Spread 10.16 9.87 0.29
Singapore 473 482 515 502 439 Brent-Dubai Spread 1.23 1.66 (0.43)
Los Angeles 472 475 500 494 447

MDO NY Products
US Gulf 667 663 716 703 664 RBOB Gasoline (NYMEX) 65.38 65.55 (0.17)
US Atlantic Coast 723 728 750 740 701 Heating Oil (NYMEX) 87.11 88.03 (0.92)
Rotterdam 630 638 662 657 625 3-2-1 Crack (Brent) 6.00 6.92 (0.92)
Fujairah 769 760 783 769 712
Singapore 646 644 692 685 656
Los Angeles 713 716 738 735 700 Poten & Partners Department Contacts

Source: Ship & Bunker Crude Spot Chartering pbrennan@poten.com Patrick Brennan
Clean Spot Chartering pfoglia@poten.com Phil Foglia
Assumed Speeds (kt) & Consumptions (MT/Day) - Laden / Ballast US Flag Chartering jloch@poten.com Jason Loch
VLCC: 13.0 / 13.0 - (70.0 / 61.5) MR:
Term Chartering/S&P rrexer@poten.com Rob Rexer
13.0 / 13.0 - (27.5 / 25.5)
Suezmax: 13.0 / 13.0 - (53.0 / 49.0) (42 - 60 kdwt) Tanker Research ebroekhuizen@poten.com Erik Broekhuizen
Aframax/LR2: 13.0 / 13.0 - (39.0 / 36.5) Handysize: 13.0 / 13.0 - (25.0 / 23.0) General Inquiries Tel: +1 (212) 230 2000 Fax: +1 (212) 355 0295
Panamax/LR1: 13.0 / 13.0 - (35.0 / 32.0) (27 - 42 kdwt)

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