The Middle East Gulf has seen a mixture of behavior this week. LR2 demand has been minimal and TC1 lost 6.25 points to WS185.94 with a trip west on TC20 dropping below the $4,000,000 mark for the second time in three weeks. Comparatively, the LR1s have had just enough enquiry to keep them stable. TC5 has gained five points to WS215.36 and a voyage to the west on TC8 has held around the $3,500,000 level all week.

AG MRs lost the momentum gathered last week and the TC17 index dropped from WS397.14 to WS374.29. West of Suez, LR activity looks to have been very minimal this week and subsequently TC15 has dipped to around $3,300,000 (-$137,000) and TC16 lost 10 points to WS208.57.

On the UK-Continent, MRs have picked up as the week has progressed. TC2 bottomed out at around WS272.5 midweek to then return to WS275. Similarly, TC19's downward movement halted at WS280 and has since returned back up to WS285 at the time of writing.  

In the US Gulf, MR levels have been stable this week with just enough enquiry to keep freight levels stable and at an apparent floor for the moment. TC14 dropped an incremental WS2.92 points to WS169.58 and likewise TC18 dipped from WS269.17 to WS267.5. On a run down the Caribbean, TC21, a widely reported fixture at $675,000 midweek led the index to rest at this level for 48 hours. This was followed by a small improvement to $693,000 by the end of the week.

The MR Atlantic Triangulation Basket TCE gained $52 from $32,502 to $32,554.

On the Handymax, in the Mediterranean TC6 has been consistently chipped away at by charterers this week. This was reflected in the index dropping 33.12 points from WS275 to WS241.88. In the Baltic TC9 after peaking around the WS445 mark gently recorrected down to WS431.07 for the moment.


The VLCC market rebounded this week. 270,000mt NHC Middle East Gulf to China recovered eight points to WS106.5 (a daily TCE round trip earning of $71,900), while the 280,000mt Middle-East Gulf to US Gulf (via the cape/cape routing) trip is assessed four points higher than last week at WS59.

In the Atlantic region, the rate for 260,000mt from West Africa to China gained six points to WS105 (a round-trip TCE Earning of $72,000 per day) and 270,000mt US Gulf/China rose $975,000 to just above $12.9 million ($68,300 per day round trip TCE). 


The Suezmax rates in the West lost a few points but income barely changed. The 135,000mt CPC/Augusta trip shed two points to the WS202.5 level (a TCE showing a daily return of $87,600, which is what it was last Friday). In West Africa, the 130,000mt to Rotterdam voyage saw rates fall three points showing a marginal decrease in the daily TCE round-trip at $68,300. The 140,000mt Basrah/Lavera market dropped five points to around WS95-96.


The Aframax market in the US-Caribbean region fell back from its high perch, with the rate for 70,000mt Covenas/US Gulf losing 24 points to WS383 ($96,400 per day round-trip TCE). This was on the back of minimal activity this week. The 70,000mt East Coast Mexico/US Gulf trip dropped 22 points to WS394 (a round-trip TCE of about $106,400).

For the longer-haul 70,000mt US Gulf/Rotterdam voyage the rate has eased a meagre three points to WS301 (a TCE of $67,100 per day round-trip, the same as a week ago). Across the Atlantic, 80,000mt Hound Point/Wilhelmshaven is now rated five points higher than a week ago at WS214 (a daily TCE of $74,800 round-trip). And in the Mediterranean 80,000mt Ceyhan/Lavera slipped two points to the WS235-236 level (showing a daily round-trip TCE of $68,300, which is $400 per day up on last Friday).