Clean

LR2

MEG LR2’s rates have been slightly reduced this week. The TC1 75kt MEG/Japan index slipped 2 points to WS124.44 and TC20 90kt MEG/UK-Continent has fallen about $85,000 to just below the $3.5m level.

West of Suez, Mediterranean/East LR2’s the rate has fallen another $50,000 to settle at $3,000,000.

LR1

MEG LR1 freight has sunk this week, a steeper fall than the LR2’s. The TC5 55kt MEG/Japan index lost 13 points to WS134.06 while a voyage west on TC8 65kt MEG/UK-Continent went from about $2,864,000 to about $2,714,000.

On the UK- Continent LR1’s continued along their current path for the third week. The TC16 60kt ARA/West Africa index remained at around the WS130 level with the Baltic TCE just under $24,000 /day round trip.

MR

MRs in the MEG gained slightly this week. The TC17 35kt MEG/East Africa index climbed 2 points to WS213.21 taking the Baltic TCE to about $21,800/day round trip.

UK-Continent MRs tumbled this week with the rate for the TC2 37kt ARA/US-Atlantic coast trip falling 13 points to dip just below WS140 giving a corresponding TCE of a whisker below $15,000/day. Similarly, the TC19 voyage of 37kt ARA/West Africa lost 15 points to WS158.44.

USG MRs recovered recent losses this week. The TC14 38kt US-Gulf/UK-Continent gained 13 points to WS122.5 while the closely aligned TC18 route of 38kt US Gulf/Brazil had 9 points added, rising to WS166.79. The shorter Caribbean run on TC21, 38kt US-Gulf/Caribbean is firmer by over $77,000 (just over 15%) to be assessed at $589,286.

The MR Atlantic Triangulation Basket TCE went from $23,270 to $24,435.

Handymax

Baltic Clean Handymaxes had a torrid week with the TC6 index dropping 32.5 points to WS136.94 and on the UK-Continent the TC23 30kt Cross UK-Continent fell 20 points to WS151.67.

 

VLCC

The market in the Middle East and West Africa turned again this week while the US Gulf continues to march on. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) has lost 5.5 points to WS67 corresponding to a round-trip TCE of $51,134.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) eased 2.5 points to WS67.13 giving a round voyage TCE of $51,690 per day. The rate for 270,000 mt US Gulf/China (TD22) rose by $411,358 which shows a daily round trip TCE of $51,054.

 

Suezmax

Suezmax owners had to capitulate this week with the market falling in the Atlantic and Mediterranean. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) was knocked down 10 points to WS109.17 meaning a daily round-trip TCE of $50,178 while the TD27 route (Guyana to UK Continent basis 130,000 mt) lost 9 points to WS107.5 translating to a daily round trip TCE of $48,939 basis discharge in Rotterdam. The CPC programme continues to provide some stability to the Suezmax market and the TD6 route of 135,000 mt CPC/Augusta only losing 4 points to WS131.55 showing a daily TCE of about $63,500 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) has continued to be steady at the WS91 level.

 

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) slipped 4 points to the WS135 level, giving a daily round-trip TCE of about $49,100 basis Hound Point to Wilhelmshaven.

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) was reduced by 4 points to WS176.61 (basis Ceyhan to Lavera, that shows a daily round trip TCE about $54,700).

Across the Atlantic, rates have eased again. For the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) the rates fell about 10 points on each route to the WS178-177 mark respectively, which shows a daily round-trip TCE of around $46,500 and $43,800.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) slid 3.5 points to WS170 giving a round trip TCE basis Houston/Rotterdam of $44,517 per day.