Clean

LR2

Steam came pouring out of the LR2 freight in the MEG this week. The TC1 75kt MEG/Japan index dropped 43.89 points to WS168.33. A TC20 90kt MEG/UK-Continent trip also went from $5.3mill to $4.29mill.

West of Suez, Mediterranean/East LR2’s also dropped below the $3mill mark this week coming down $190,000 to $2.95mill for a TC15 description run.

LR1

MEG LR1’s also came down this week. The TC5 55kt MEG/Japan index went from WS216.88 to WS2181.25. A voyage west on TC8 65kt MEG/UK-Continent also came off to the tune of $914,290 to $3.17mill.

On the UK- Continent LR1 freight levels held flat for the sixth week in a row. The TC16 60kt ARA/West Africa index remained at the WS115 level.

MR

MRs in the MEG also saw their freight crash dramatically this week. The TC17 35kt MEG/East Africa index as a result was cut down by 129.6414 points to WS226.07.

UK-Continent MRs came down modestly this week. The TC2 37kt ARA/US-Atlantic coast went from WS115.63 to WS107.5. The Baltic Time Charter equivalent round trip, as a result continued down to the $7,085 level.

USG MRs stole the show this week. The TC14 38kt US-Gulf/UK-Continent trip went cruising on up to WS240 mid-week to then recorrect down to WS216.43, ultimately climbing 57.86 points across the week. A Caribbean trip on TC21, 38kt US-Gulf/Caribbean also finally assessed $539,286 better than last week at $1.35mill.

The MR Atlantic Triangulation Basket TCE went from $25,392 to $36,131.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean, spiked at WS203.06 but has since returned to WS186.11. Up on the UK-Continent the TC23 30kt Cross UK-Continent dropped modestly from WS141.67 to WS135.28.       

 

VLCC

The Iran/Israel ‘ceasefire’ seems to have quelled nerves and as a result the market has slackened considerably. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) has lost all recent gains and collapsed 26 points to WS55.50 corresponding to a daily round-trip TCE of $35,281.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) has fallen 12.5 points to WS60.13 giving a round voyage TCE of $41,319 per day. In the US Gulf region, the rate for the TD22 route of 270,000 mt US Gulf to China has eased by nearly $300,000 to a little less than $7,700,000 which shows a daily round trip TCE of about $38,700.

 

Suezmax

The Suezmax market has been relatively flat this week with the main focus of attention being on the bigger cousins. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) remains at WS89.72 meaning a daily round-trip TCE of $36,180 (which is actually an increase of over $1,600 per day). The TD27 route (Guyana to UK Continent basis 130,000 mt) added 1 point to WS87.5 translating to a daily round trip TCE of about $34,400 (over $2,000 per day up from last Friday) basis discharge in Rotterdam. The TD6 route of 135,000 mt CPC/Augusta remained around the WS104 level giving a daily TCE of a little over $38,200 (about $1,600 per day better than a week ago). In the Middle East, as tensions eased, so did the market. The rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) has been reduced by 3 points to about the WS100 mark.

 

Aframax

In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7) the rate recovered by 2.5 points to WS122.5 giving a daily round-trip TCE of about $34,400 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) lost about 1 point to the WS135 level (basis Ceyhan to Lavera, that shows a daily round trip TCE of a little over $31,000).

Across the Atlantic, the shorter routes the Baltic Exchange produces has had another week of gains and losses with rates climbing in the first half of the week and falling back on Thursday. Overall, the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) has fallen 3-4 points week-on-week to the WS149 and WS145 level, respectively. This translates into a daily round-trip TCE of about $31,400 and $29,400.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) however, has risen 6 points to the WS148 mark giving a round trip TCE basis Houston/Rotterdam of just shy of $34,800 per day.