MEG LR2’s have bounced up and down this week, also seeing TC1 dip to below WS100 for the first time since February. TC1 bottomed out at WS98.06 midweek with reports of a rebound and WS100 currently reported on subjects. TC20 followed suit and lost $350,000 to $2762,500 mid-week but is currently marked at $2,856,250.

West of Suez, Mediterranean/East LR2’s sedate profile continued this week and the TC15 index has been driven down to $2,275,000, with the Baltic TCE for this firm firmly into negative numbers.  


In the MEG, LR1’s have been tested down this week. TC5 dropped 23.12 points to WS121.88 and similarly a TC8 run shed $232,050 to be currently pegged at $2,507,050.

On the UK-Continent, TC16 bottomed out at WS120.94 to then return back up too WS123.5.   


MEG MR’s have taken a significant retest down again this week, seeing the TC17 index drop from WS186.07 to WS154.29.

Enquiry has been sporadic this week for the UK-Continent MR’s. As a result freight levels have come under pressure. TC2 has come off 18.75 points to WS141.5 and TC19 has followed, dropping from WS169.38 to WS151.25.

USG MR’s have been little disjointed as the week was bisected by Independence Day bank holiday meaning ultimately freight levels have fallen. TC14 came off 15.83 points to WS116.67 and TC18 dropped from WS215 to WS199.17. A run to the Caribbean on TC21 looks to have most affected shedding $166,666 to $704,167.

The MR Atlantic Triangulation Basket TCE dropped from $27,885 to $21,841.  


Mediterranean Handymax’s took a significant leap upwards this week climbing from WS155.56 to WS184.17. 

Up on the UK-Continent, TC23 recovered a modest 7.5 points this week to WS129.72.  



A busier week in this sector, and rates have been pushed down after the mini fightback at the end of last week. In the Middle East, the rate for 270,000 mt Middle East Gulf to China lost about three points since last Friday to WS53.96 (a round-trip TCE of $32,900/day basis the Baltic Exchange’s vessel description), while the 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) is now rated one point lower at WS35.81.

In the Atlantic market, the rate for 260,000 mt West Africa/China also dropped three points to WS53.70 (which shows a round voyage TCE of $33,300/day). The rate for 270,000 mt US Gulf/China is now assessed $422,223 less than a week ago at $7,944,444 ($31,900/day round trip TCE).



Suezmaxes have also had a busier week and again rates have been driven down. In West Africa, for 130,000 mt Nigeria/Rotterdam the rate has dropped another 15 points to WS84.09 (a daily round-trip TCE of $28,200). In the 135,000 mt CPC/Med market the rate is assessed 4.5 points lower than a week ago at WS107.88 (producing a daily TCE of $41,000 round-trip) and in the Middle East the rate for 140,000 mt Basrah/Lavera lost a further five points to WS50.39.



In the North Sea, the rate for the 80,000 mt Hound Point/Wilhelmshaven has hovered around the W130-132.5 mark and published at WS131.43 yesterday (showing a round-trip daily TCE of $37,000). Meanwhile, in the Mediterranean, the 80,000mt Ceyhan/Lavera rate lost 11 points over the week to WS128.61 (a daily round trip TCE very close to $31,400).

Across the Atlantic, in the Stateside Aframax market, sentiment remains soft and further rate reductions were made over the week. The rate for 70,000 mt East Coast Mexico/US Gulf fell 21 points to WS127.5 (which shows a TCE of about $24,600/day round trip) and for 70,000 mt Covenas/US Gulf the rate is 16.5 points lower than last Friday at WS126.88 (showing a round-trip TCE of $24,000/day). For the trans-Atlantic route of 70,000 mt US Gulf/Rotterdam the rate fell nine points to WS139.38 (a round trip TCE of $30,600/day).