Clean

LR2  

MEG LR2’s dipped a little this week, however there has been enough enquiry to prevent complete crumbling of the market. TC1 75kt MEG/Japan lost 3.06 points to WS106.94. A trip West on TC20 90kt MEG/UK-Continent shed $212,500 to $3.06m.

West of Suez, Mediterranean/East LR2’s on TC15 remained at the $3.1m level for the third week on week.

LR1  

The TC5 55kt MEG/Japan index held level at around WS110 all week. A run to the UK-Continent on TC8 65kt MEG/UK-Continent dropped another inc$114,400 to $2.36m.

On the UK- Continent, the TC16 60kt ARA/West Africa index was resolute at WS129 all week. 

MR

MR’s in the MEG remained positive this week. The TC17 35kt MEG/East Africa index, nudged up 9.64 points to WS210 where it looks to have plateaued for the moment.

UK-Continent MR’s stalled this week. The TC2 index 37kt ARA/US-Atlantic coast saw an incremental drop of 5.31 points to WS131.88 with the Baltic TCE showing $11,571 / day round trip. TC19 37kt ARA/West Africa dropped off a little more than TC2 with the index dropping from WS186.25 to WS171.25.

MR’s in the USG continued their current firming sentiment this week reflected in the TC14 38kt US-Gulf/UK-Continent marked 22.86 points higher than last week at WS210. TC18 the 38kt US Gulf/Brazil index also hopped up from WS237.86 to WS171.25. A short trip on TC21 38kt US-Gulf/Caribbean also stepped up another 20% to $1.13m. This returns $47,379 /day on Baltic description round trip.

The MR Atlantic Triangulation Basket TCE gained $3,170 to $36,605.

Handymax

In the Mediterranean, Handymax rates had a sharp knife taken too them and the TC6 index went from WS204.44 to WS1667.67.

Up on the UK-Continent, the TC23 30kt Cross UK-Continent held onto its mark of low/mid WS180’s all week.

 

VLCC

The market appears to have touched bottom, at least for now. The 270,000 mt Middle East Gulf to China trip (TD3C) has been held at the WS39-40 mark giving a daily round-trip TCE of about $18,700 basis the Baltic Exchange’s vessel description.

In the Atlantic market, a similar story played out with the rate for 260,000 mt West Africa/China (TD15) being maintained around the WS46.5/47 level (corresponding to a round voyage TCE of around $26,600 per day), while the rate for 270,000 mt US Gulf/China (TD22) ended the week $359,667 less than last Friday at $6,445,333 (which shows a daily round trip TCE of $28,006).

 

Suezmax

Charterers continued to apply pressure on owners this week, especially in the Atlantic where the slowdown in US Gulf activity has impacted West Africa trade. The 130,000 mt Nigeria/UK Continent voyage (TD20) fell by about 6 points to WS81.94, meaning a daily round-trip TCE of $28,613, while the TD27 route (Guyana to UK Continent basis 130,000 mt) lost about 3.5 points to WS81.94, which translates into a daily round trip TCE of $28,311 basis discharge in Rotterdam. For the TD6 route of 135,000 mt CPC/Med, the rate lost another 9 points this week to WS88.30 (showing a daily TCE of $25,681 round-trip). In the Middle East, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) was a point weaker at WS90.83.

 

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) gained close to 4 points to WS131.67 (giving a daily round-trip TCE of $35,817 basis Hound Point to Wilhelmshaven).

In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean (TD19) regained 8 points to WS152 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $42,246).

Across the Atlantic, the market for the shorter hauls improved early in the week but by Thursday had fallen back to levels seen last Friday with longer hauls attracting the most attention. Basis week-on-week values, the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) rates have remained at the 166 and 170 levels, showing a daily round-trip TCE of $38,039 and $42,732, respectively. The rate however for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has rebounded and is 10 points firmer than last Friday at WS172.22 (showing a round trip TCE basis Houston/Rotterdam of $41,397 per day), which should discourage further ballasters from Europe, for the moment at least.