Cross-Med rates fell to w112.5 on October 7.
"There are too many ships in the Med. You need a month of great activity to absorb all the tonnage and we had only a couple of very active days last week," a shipbroker said.
On Tuesday, at least 25 Handysize tankers were reported available in the Mediterranean area until October 27, for only 8-10 uncovered cargoes.
On Wednesday, the Cape Bird was heard on subjects at w112.5 to load a 30,000 mt cargo around October 26 from Sarroch to a Mediterranean destination.
"Most [Handysize tankers] fixtures are done at w112.5 for Cross-Med and Black Sea-Med," a shipowner said.
While some sources have been talking for a week about a few ships being put on subjects at w110 for a Cross-Med voyage, no regular fixture was confirmed at this rate.