Clean

LR2

LR2 freight in the MEG this week ticked down modestly. The TC1 75kt MEG/Japan index dropped 8.61 points to WS110.83. A TC20 90kt MEG/UK-Continent trip also went from $3.57 million to $3.41 million. West of Suez, Mediterranean/East LR2’s held relatively flat this week, ticking down $20,000 to $2.89 million for a TC15 Baltic description voyage.

LR1

MEG LR1’s saw a small hop up in freight late this week. The TC5 55kt MEG/Japan index bottomed at WS130 mid-week to return up to WS144.06 following some charters reported on subjects at WS145. A voyage west on TC8 65kt MEG/UK-Continent also came up to the tune of $46,457 to $2.82 million.

On the UK-Continent LR1 freight levels remained level again. The TC16 60kt ARA/West Africa index remained around the WS112.5 mark.

MR

MRs in the MEG managed to regain some value this week. The TC17 35kt MEG/East Africa index as a result climbed 24.29 points to WS215.36.

UK-Continent MRs appeared stable on the supply/demand dynamic this week. The TC2 37kt ARA/US-Atlantic coast was consistently assessed around WS95.The Baltic TCE round trip held at the $3,700/day level.

USG MRs crumbled this week. The TC14 38kt US-Gulf/UK-Continent trip dipped by 57.15 points to WS130.71. A Caribbean trip on TC21, 38kt US-Gulf/Caribbean was also finally assessed 40% lower than last week at $569,286.

The MR Atlantic Triangulation Basket TCE went from $28,783 to $18,268.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean, levelled off at WS130 where it has been sat all week. Up on the UK-Continent the TC23 30kt Cross UK-Continent climbed 10.56 points to WS125 where it has also taken pause for the moment.

 

VLCC

The slide in the VLCC market came to an end and rates have started to bounce back. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) has clawed back 2.5 points to WS49.40, corresponding to a daily round-trip TCE of $28,470. In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) recovered three points to WS53.25 giving a round voyage TCE of $33,249/day. In the US Gulf, the rate for the TD22 route of 270,000 mt US Gulf to China has gained $164,173 to $7,224,173, which shows a daily round trip TCE of $34,600.

 

Suezmax

In the Suezmax market, the slide has almost stopped. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) came off a point since last Friday to WS80.39, which translates into a daily round-trip TCE of $29,223. The TD27 route (Guyana to UK Continent basis 130,000mt) lost about 3.5 points to WS78.47 meaning a daily round trip TCE of just over $27,500. The TD6 route of 135,000mt CPC/Augusta was reduced by two points to WS90.39, giving a daily TCE of a little over $26,600. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal)  decreased by 1.5 points to just over WS95.

 

Aframax

In the North Sea market for the 80,000mt Cross-UK Continent route (TD7), the rate slipped another two points to close at WS118, giving a daily round-trip TCE of about $28,900 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) slowed its depreciation, losing a point over the week to WS127.06 (basis Ceyhan to Lavera that shows a daily round trip TCE of a little over $25,000).

Across the Atlantic, as participants recovered from the 4th of July holiday, rates firmed slightly for the short local voyages. The 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) is now assessed at WS142.5 (a climb of one point and five points, respectively). This translates into a daily round-trip TCE in the low $27,000s.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) however lost ground again, reducing by five points to WS140, giving a round trip TCE basis Houston/Rotterdam of about $30,800/day.