When clean cargoes go dirty

An eye-catching fixture was seen recently that gave a glimpse of the dirty side of clean tankers. The Medium Range tanker Iver Experience was reported to be on subjects to Lukoil to load a a 38,000 mt cargo of diesel oil on the US Gulf Coast and then head across the Atlantic. That doesn’t seem out of line, but the freight rate for that deal was Worldscale 85, or $11.72/mt, when that route was sitting at w102.5, $14.13/mt. So, why the discount? It turns out the last cargo the Iver Experience carried was a load of Arica condensate from the west coast of South America, which is not considered the cleanest of clean cargoes. “Arica condensate is dirty,” a charterer said. “It’s dark and can require extensive cleaning, so there’s a massive discount for later cargoes.” A source with a shipowner said though the ship may have to get cleaned, its owner may think the expense is worth it. “A lot of people don’t like to carry it,” he said. “It’s a clean product, but it is considered dirty, and a premium is involved [when it is carried]. But, I guess the owner figures he can just do a couple

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Source: CTRM Center

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