In the Middle East Gulf this week LR2s began quietly with freight levels propped up by other sizes in the region. TC1 only lost five points to WS192.19 and a trip west, TC20, lost $100,000 to bottom out at the $4,200,000 mark ($39,000 / day round trip TCE). On the LR1s, TC5 has been steady with WS200 repeated several times. A firming sentiment has pushed the Index up 10 points to WS209.64. In addition a voyage west, TC8, has hopped up $145,000 to $3,490,000.

AG MRs have been particularly strong this week seeing the TC17 index rise 42.86 points to WS402.86 and going over the $40,000 /day round trip TCE. 

West of Suez, LRs have been somewhat sombre. TC15 lost just over $200,000 to arrive at $3,480,000 and TC16 dropped from  WS228.21 to WS218.57.

On the UK-Continent MRs, softened this week from expanding available tonnage and modest activity. TC2 shed 18 points to WS282.5 and TC19 similarly came down from WS309.29 to WS292.5.

In the US Gulf, CPP exports look to have been somewhat limited this week causing MR freight levels to decline. TC14 adjusted down 24.17 points to WS175 and similarly TC18 dipped from WS315.83 to WS268.75. On a run down to the Caribbean (TC21) we saw the index exuviate $183,334 down to $683,333.

The MR Atlantic Triangulation Basket TCE lost $5369 from $38,732 to $33,363.

On the Handymax, in the Mediterranean there was relatively little enquiry. This allowed tonnage to build and rates to slide, TC6 lost 22.5 points to WS280. In the Baltic, TC9 has improved this week for more activity and tighter ship availability. The index rose from WS399.29 to WS440.71.



The VLCC market eased back this week. 270,000mt NHC Middle East Gulf to China fell seven points to around the WS98-99 mark (a daily TCE round trip earning of $62,800) with Chinese charterers reported to have taken a few ships (one Frontline and two Korean relets) at these levels. Meanwhile, the 280,000mt Middle-East Gulf to US Gulf (via the cape/cape routing) trip is assessed 1.5 points lower than last week at WS55. In the Atlantic, the rate for 260,000mt from West Africa to China slipped six points to WS100 (a round-trip TCE earning of $65,700 per day) and 270,000mt US Gulf/China is a marginal $6,250 lower than a week ago at $11,587,500 ($56,200 per day round-trip TCE).



The Suezmax market remained firm this week with rates for 135,000mt CPC/Augusta gaining six points to break through the WS200 barrier again at between WS202.5-205 (a TCE showing a daily return of $87,100). In West Africa, the 130,000mt to Rotterdam trip saw rates ascend through WS175 and are now currently peaked at just shy of WS185 ($66,700 per ay round-trip TCE). The 140,000mt Basrah/Lavera market rose a meagre 2.5 points to WS101.5.



The Aframax market in the US-Caribbean region has remained on an upward trajectory and the rate for 70,000mt Covenas/US Gulf rose 24 points to WS405 ($103,300 per day round-trip TCE), with an American major charterer now reported to have fixed this route at WS410. The 70,000mt East Coast Mexico/US Gulf trip improved five points to WS407.5 (a round-trip TCE of about $112,300). For the longer-haul 70,000mt US Gulf/Rotterdam voyage the rate has increased by another 3.5 points this week to WS303.5 (a TCE of $67,100 per day round-trip). Across the Atlantic, 80,000mt Hound Point/Wilhelmshaven is now rated two points lower than a week ago at between WS207.5-210 level (a daily TCE of $68,300 round-trip). In the Mediterranean, 80,000mt Ceyhan/Lavera is 1.5 points firmer at a little over WS237 (showing a daily round-trip TCE of $67,800).