Clean

In the Middle East Gulf this week we’ve seen the LRs getting some strength back. TC1 has hopped up 18.13 points to settle at WS311.88 and on a run West (TC20) - after dropping into the high $5,000,000s midweek - has returned back up and over the $6,000,000 mark. Similarly on the LR1s a 55,000 AG/Japan came up to WS372.86 (+24.29) off the back of  significantly reduced vessel availability, with a trip to the West on TC8 climbing around $250,000 to $5,480,000.

MRs in the region have been stable all week and the TC17 index has floated around WS475.

In Europe, LR activity looks to have been less potent and the TC15 index came off £191,667 to $5,033,333. After a widely reported fixture at WS320, TC16 has climbed quickly to this level where it has then stayed.

On the UK-Continent MRs have suffered from a distinct lack in open activity this week. Subsequently, TC2 has come down 23.33 points to settle at WS380.28 and likewise TC19 has shed 25 points to WS398.57.

Over in the Americas the MRs have had a rough week. Freight has been slashed with an average drop of 22% across the three Baltic routes. TC14 is currently marked at WS237.5 (-52.5). TC18 lost WS93.33 to settle at WS332.5 and TC21 had a $375,000 chunk taken out of it to just over the $1,000,000 level.

The MR Atlantic Triangulation Basket TCE lost $12,316 from $68,755 to $56,439.

Handymax in Europe have resurged this week. In the Baltic, TC9 continued its charge adding 235 points to be pegged at WS882.14 by the end of the week. TC23 - after a stable period last week - finally skipped up to WS400. TC6 has seen firm sentiment with vessels suffering from weather delays. The index has jumped up to just under WS460 (+42.82) at time of writing.

VLCC

The VLCC market bottomed out at the end of last week and rates have been firming. 270,000 mt Middle East Gulf to China is now 1.5 points higher than a week ago at WS82.88, which translates into a round-voyage TCE of $50,700 basis the Baltic ship description. The 280,000mt Middle East Gulf to US Gulf (via the cape/cape routing) trip is assessed up one point at WS56.28.

In the Atlantic region, the rate for 260,000mt West Africa/China rose two points to WS81.45 (a round-trip TCE of about $50,500 per day) and 270,000mt US Gulf/China fell by $56,250 to a touch above the $9.53 million level ($44,350 per day round-trip TCE, about $400 per day less than a week ago).

Suezmax

The Suezmax market slipped in all markets this week. Rates for 135,000mt CPC/Augusta fell 6.5 points to WS293.44 (a round-trip TCE of $153,600 per day) while the 130,000mt Nigeria/Rotterdam voyage shed another 10 points to WS170 (a daily round-trip TCE of about $63,900). The 140,000mt Basrah/Lavera market eased a further four points to WS89.

Aframax

Lost ground this week with the 80,000mt Hound Point/Wilhelmshaven route down three points to WS321.88 (a round-trip daily TCE of $146,800). In the Mediterranean, the 80,000mt Ceyhan/Lavera market is now 14 points lower at WS371.69 (a daily round trip TCE of $135,300). The Stateside Aframax market touched bottom and a gentle rise has been seen of late. Rates for the 70,000mt East Coast Mexico/US Gulf route rose eight points week-on-week to WS248.13 ($56,500 per day round-trip TCE). Rates for the 70,000mt Covenas/US Gulf trip are seen as flat at between WS233-234 (a daily round-trip TCE of $48,700). For the longer-haul 70,000mt US Gulf/Rotterdam voyage, rates fell 20 points in the first half of the week and have now recovered five points to end up at WS267.5 at close of play on Thursday 15 December (showing a round trip TCE of $60,000 per day).