Rates slipped slightly in both the Middle East Gulf and Atlantic regions. For the 280,000mt Middle East Gulf to US Gulf (Cape/Cape routing) trip rates are assessed half a point less than a week ago, at around the WS22 mark. The rate for 270,000mt Middle East Gulf to China is now 1.5 points, at just under WS45 (a roundtrip TCE of $3.9k/day). In the Atlantic, rates for 260,000mt West Africa to China dipped by a point to WS47 (a TCE of $7.5k/day roundtrip) and 270,000mt US Gulf to China is down $56,250 at $5.5m (a TCE of $9k per day roundtrip).



In West Africa the market was steady with the rate for 130,000mt Nigeria/UK Continent being maintained at just over WS76 (showing a roundtrip TCE of about $9.2k/day). The rate for 135,000mt Black Sea/Med rose two points to the WS87 level (a TCE roundtrip of $9k per day). The Middle East/Mediterranean market was been quiet compared to recent weeks and the rate for 140,000mt Basrah/Lavera is now assessed three points off from a week ago at just below WS45.



In the Mediterranean, charterers have been able to take a grip of the market and rates for 80,000mt Ceyhan/Lavera have been reduced by about eight points to the mid-point of the WS127.5/130 region ($17.2k per day TCE roundtrip). Conversely, in Northern Europe, the market for 80,000mt Cross-North Sea has increased by about six points to between WS120/122.5 (a TCE of about $10.1k/day) and 100,000mt Baltic/UK Continent gained four points to nearly WS92.5 (a TCE of about $11.7k per day roundtrip). Across the Atlantic, the market-easing continues with the rate for 70,000mt US Gulf/UK Continent losing another couple of points to around the WS105/107.5 mark (a TCE of $6k/day roundtrip). The 70,000mt Caribbean/US Gulf rate shed about 6.5 points to just below WS132 (a TCE of $11.8k/day roundtrip) and 70,000mt East Coast Mexico/US Gulf is seven points down on last week at WS135 ($14.4k/day TCE roundtrip).



A mixed bag in the Middle East Gulf this week. On the LR2s TC1 peaked at WS117.5 in midweek then resettled at WS110, a round-trip TCE of $7898/day. The LR1s have held stable by comparison and TC5 55k Middle East Gulf / Japan is down 3.36 points to WS1124.64 a round-trip TCE of $7855/day. The MRs have been under pressure from less activity than previous weeks and 35k Middle East Gulf / East Africa (TC17) is now WS182.08 (-WS 12.92).

The Mediterranean Handy market has seen a freight level delta open up this week based on tonnage situation differing in East vs West Med.TC6 30kt Skikda / Lavera is now at WS 136.31 (- WS 6.94). The LR2s, TC15 80k Mediterranean / Japan have shown a further upside and now sit at $1.9875m.

The Baltic Handy market has seen softening pressure creep in this week, as a result of a growing tonnage list and the weaker MR market. TC9 30k Baltic / UK-Continent is now WS 140 (- WS 12.5)

On the UK-Continent MRs, a buildup of prompt vessels has eroded freight rates this week. TC2 37k UK-Continent / US Atlantic Coast dropped WS17.77 to WS111.67. TC19 37k Amsterdam to Lagos has followed suit and is currently marked at WS114.29 (- WS17.5).

On the LR1s, TC16 60k Amsterdam / Offshore Lome has had encouraging signs with rates pushing up off the back of demand for the vessel size in the Uk-Continent and Mediterranean. The run is now pegged at WS111.43 - up 10.72 points.

In the Americas the MR market has again shown a consistently firming sentiment this week. TC14 38k US Gulf / UK-Continent jumped to WS 128.93 (+WS 27.5) and TC18 38k from US Gulf / Brazil surged 40 points to WS183.21.