Clean

LR2

MEG LR2 freight continued it modest firming this week. The TC1 75kt MEG/Japan index added another 5 points of value to WS150 taking the corresponding TCE to a fraction over $36,000 /day Baltic description round trip. 

A voyage west on TC20 90kt MEG/UK-Continent managed to tick up again from $3.94 to $4.16 million.

The TC15 80kt Mediterranean/East run saw the index levelled off this week, a $37,500 improvement took to index to exactly $3.65 million.

LR1

MEG LR1 also saw their freight levels improve this week. The TC5 55kt MEG/Japan index climbed from WS144 to WS153.

A run west on TC8 65kt MEG/UK-Continent ended the week $135,000 higher at $3.16 million.

On the UK-Continent, LR1 freight remained flat this week. The TC16 60kt ARA/West Africa index settled an incremental 3.5 points higher at WS132.

MR

MR freight in the MEG shot up with gusto at the end of this week. The TC17 35kt MEG/East Africa index came up of it WS215-220 floor adding 27.5 points to WS246 at time of writing.

On the UK-Continent, MRs have continued their recovery this week. The TC2 37kt ARA/US-Atlantic Coast index climbed 34 points to WS165. The Baltic TCE for the trip has subsequently shot up another 54% to just under 18,400/day.

In the US Gulf, MRs seemed to have taken pause this week. The TC14 38kt US Gulf/UK-Continent voyage floated between WS175 and WS185 all week keeping the Baltic round trip TCE for the run around $22,000 – 25,000 /day. The Caribbean run on TC21, 38kt US-Gulf/Caribbean, dipped mid-week to $682,000 but has then since returned to $825,000. 

The MR Atlantic Triangulation Basket TCE went from $34,085/day to $37,435/day.

Handymax

In the Mediterranean, Handymaxes on TC6, 30kt Cross-Mediterranean index saw a significant upturn with the index rising from WS185 to WS228 and to corresponding Baltic TCE rising 53% to $32,700 /day round trip. 

The TC23 30kt Cross UK-Continent route climbed 12 points to WS204.

 

VLCC

The VLCC market rates took another step up this week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) took a 4-point rise to WS133.94 which corresponds to a daily round-trip TCE of $131,252 for the standard Baltic VLCC.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) took a small dip early in the week but fought back towards the end, back to where it left off last Friday at WS119 giving a round voyage TCE of a little over $113,000. The US Gulf to China (TD22) market started to dip, losing over $56,000 for the week to $13,787,667 which shows a daily round trip TCE of $93,873.

 

Suezmax

In the Suezmax sector, the market remains firm however the rates have decreased in the Atlantic, but firmer in the Mediterranean. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) lost 3 points to WS156.39 which translates into a daily round-trip TCE of $78,751 while the TD27 route (Guyana to UK Continent basis 130,000 mt) lost 4.5 points to WS154.44 giving a daily round trip TCE of about $77,563. The TD6 route of 135,000 mt CPC/Augusta increases by 21 points to WS185 meaning a daily TCE of a little over $107,500. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) was 1 point stronger than last week at WS113.5.

 

Aframax

In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) remained around the WS157 mark giving a daily round-trip TCE of about $65,100 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) had a significant reduction, losing 26 points week on week, to WS187 (basis Ceyhan to Lavera, that shows a daily round trip TCE of just over $55,000).

Across the Atlantic, the market continued to ease for the 3 Baltic routes. The 70,000 mt East Coast Mexico/US Gulf route (TD26) lost almost another 10 points to end up at about WS202.5 (giving a daily round-trip TCE of a little over $54,500) and the 70,000 mt Covenas/US Gulf route (TD9) was reduced by over 8 points to WS200 (translating into a daily round trip TCE of about $50,500).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) gave up another 9 points closing on Thursday at WS203.33 which gives a round trip TCE basis Houston/Rotterdam of a little over $55,700 per day.

On the Vancouver exports, TD28 (80,000 mt crude oil Vancouver to China) recovered by $112,500 to $3,375,000 while TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point off the USWC) took a big step of over 20 points to the WS252.5-255 range.