Clean

LR2

After peaking at the end of last week LR2’s in the MEG were recorrected down over the last few days. The TC1 75kt MEG/Japan index dropped from WS151.39 to WS133.61. A TC20 90kt MEG/UK-Continent also shed $325,000 to $3.73m. 

West of Suez, Mediterranean/East LR2’s were stable for the second week on week at around the $2.9m mark on a TC15 run.

LR1

MEG LR2’ similarly took a dip in freight following their larger counterparts this week. The TC5 55kt MEG/Japan index came off a modest 11.88 points to WS157.5. A voyage west on TC8 65kt MEG/UK-Continent went from $3.14m to $2.89m.

On the UK- Continent LR1 freight levels were yet again, unmoved this week. The TC16 60Kt ARA/West Africa index came down and incremental 3.18 points to WS114.63.

MR

MRs in the MEG also have felt strong downward pressure this week. The TC17 35kt MEG/East Africa index has subsequently been slashed from WS245.71 to WS199.29. This has taken the Baltic round trip TCE for the run to just under $20,000 /day.

UK-Continent MR dynamics have managed to hold freight levels at a plateau this week. The TC2 37kt ARA/US-Atlantic coast trip hovered around the mid to high WS150’s all week.  The TC19 voyage of 37kt ARA/West Africa index mirrored the behaviour of TC2 and has floated up and down within the WS170’s for the last few days.

USG MRs continued their upward path this week. The TC14 38kt US-Gulf/UK-Continent went from WS106.43 to WS130.71. The TC18 the 38kt US Gulf/Brazil index jumped another 25.35 points to W180.71 and a Caribbean run on TC21, 38kt US-Gulf/Caribbean added another 33% of value to $735,714.

The MR Atlantic Triangulation Basket TCE went from $22,394 to $26,988.

Handymax

Baltic Clean Handymax’s held stable this week. The TC6 30kt Cross Mediterranean index went from WS186.39 to WS193.89 with reports of WS200 on subjects at time of writing. Up on the UK-Continent the TC23 30kt Cross UK-Continent remained around the WS180 mark.  

 

VLCC

The market took a dive this week, steeper than in recent weeks, on all routes. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) fell 8 points to WS52.10 corresponding to a round-trip TCE of $32,294.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) is now 7 points lower than a week ago at WS53 giving a round voyage TCE of $33,867 per day while the rate for 270,000mt US Gulf/China (TD22) tumbled $522,167 to $7,312,333 which shows a daily round trip TCE of $36,266.

 

Suezmax

Suezmax owners have been able to soak up most of the pressure this week, and the market on the 4 Baltic routes has eased only slightly. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) remained flat at a little over WS77.5 meaning a daily round-trip TCE of just under $30,000 while the TD27 route (Guyana to UK Continent basis 130,000 mt) slipped a point to just above WS76 translating to a daily round trip TCE of about $28,000 basis discharge in Rotterdam. The TD6 route of 135,000 mt CPC/Augusta eased 2 points to the WS97.5 level giving a daily TCE of about $34,500. In the Middle East, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) slipped 1.5 points to just below WS85.

 

Aframax

In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7), the rate eased 3 points to a fraction over WS122, giving a daily round-trip TCE of about $35,300 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) fell 15 points, to about WS119 (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $23,400.

Across the Atlantic, rates for the shorter haul voyages continued dropping while the longer voyage Trans-Atlantic was held. For the 70,000 mt East Coast Mexico/US Gulf route (TD26) the market fell about 7 points to just below WS119 showing a daily round trip TCE of about $19,000 and the rate for 70,000 mt Covenas/US Gulf route (TD9) is currently 11 points weaker than a week ago at the WS112.5-115 level giving a daily round-trip TCE of around $18.500. 

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) remained at the WS120 level giving a round trip TCE basis Houston/Rotterdam of $25,532 per day.