MEG LR2 demand has been somewhat subdued this week. Subsequently TC1 has held stable in the WS100-102.5 range. TC20 has also followed suit, pegged all week in the $2,800,000-2,900,000 region.

West of Suez, Mediterranean/East LR2’s remained sombre and a charter at $2,300,000 reported fixed mid-week has guided the TC15 index to currently sit at this level for now.


In the MEG, LR1’s have suffered limited enquiry and plenty of available tonnage to accommodate same. TC5 came off 9.69 points to WS113.44 and similarly a TC8 dipped an incremental $57,200 to $2,442,700.

On the UK-Continent, TC16 continued to hover along at WS125 with little activity reported.   


MEG MR’s managed to recover early in the week as we saw TC17 resurge from WS179.64 to WS200, which has since resettled to WS196.43. An abundance of LR1’s has been cited to have put a cap on rates climbing further at time of writing.

UK-Continent MR’s have been undoubtedly soft this week. Freight rates have been tested down to varying levels with the dominant talking point around vessel trading histories. TC2 dipped 25 points to WS112.25 and similarly TC19 dropped from WS146.25 to WS123.44.

USG MR’s continued on a downward trajectory this week as a result of limited stems working in the Gulf.  TC14 came down 12.09 points to WS107.08, TC18 dropped from WS204.17 to WS183.75 and a run to the Caribbean on TC21 lost $47,917 to $693,750. Despite this, TC18 and TC21 are still generating more than $20,000/day round trip Baltic description TCE’s.

The MR Atlantic Triangulation Basket TCE dropped from $22,036 to $15,642. 


In the Mediterranean, after seeing TC6 hopping up to WS185 last week Handymax’s were recorrected back down to WS175.  

Up on the UK-Continent, TC23 steadily climbed all week from WS129.72 to WS137.78.



The market fell earlier in the week, bottomed and seemingly begun a slow climb. In the Middle East, Thai charterers put a 2004-built vessel on subs at WS50, demonstrating owners’ resistance. TD3C assessments dipped below WS50 on Wednesday and now the rate for 270,000 mt Middle East Gulf to China is still two points lower than last Friday at WS51.23 (a daily round-trip TCE of $29,200 basis the Baltic Exchange’s vessel description), while the 280,000mt Middle East Gulf to US Gulf trip (via the cape/cape routing) is rated two points lower than a week ago at WS32.94.

In the Atlantic market, a similar situation prevails with the rate for 260,000 mt West Africa/China also dropping two points over the course of the week to WS51.15 (which shows a round voyage TCE of $30,000/day). The rate for 270,000 mt US Gulf/China is now $438,889 less than last Friday at $7,411,111 (about $27,400/day round trip TCE).



Suezmaxes have had a busier week, most notably in West Africa. For 130,000 mt Nigeria/Rotterdam rates hit a floor at the end of last week and now owners are clawing back the recent reductions gaining eight points to WS92.73 (a daily round-trip TCE of $33,500). In the 135,000 mt CPC/Med market the rate slid a further nine points, with owners unsupported by a lack of cargo enquiry while tonnage remains well supplied, to WS97.63 (showing a daily TCE of $31,900 round-trip) and in the Middle East the rate for 140,000 mt Basrah/Lavera gained two points to WS56.4.



In the North Sea, the rate for the 80,000 mt Hound Point/Wilhelmshaven rose three points to WS133.18 (showing a round-trip daily TCE of $36,200, $100/day less than last Friday’s). Meanwhile, in the Mediterranean, the 80,000 mt Ceyhan/Lavera rate lost a further six points over the week to WS122.33 (a daily round trip TCE of $27,100).

Across the Atlantic, in the Stateside Aframax market, the rollercoaster ride is back in motion. The rate for 70,000 mt East Coast Mexico/US Gulf climbed 22.5 points to WS151.88 (which shows a TCE of about $35,600/day round trip) and for 70,000 mt Covenas/US Gulf the rate is 16.5 points higher than last Friday at WS141.56 (a round-trip TCE of almost $30,000/day). For the trans-Atlantic route of 70,000 mt US Gulf/Rotterdam the rate improved by 17 points to WS160.31 (a round trip TCE of $35,500/day).