Clean

LR2

LR2 freight in the MEG recovered by mid-week to then plateau. The TC1 75kt MEG/Japan index climbed 13.06 points to WS125. A TC20 90kt MEG/UK-Continent trip also went from $3.38mill to $3.65mill.

West of Suez, Mediterranean/East LR2’s held completely flat this week at $2.94m for a TC15 Baltic description voyage.

LR1

MEG LR1’s were stable this week. The TC5 55kt MEG/Japan index took pause at WS145 mid-week after several reported charterers at the level, its currently assessed at WS143.44. A voyage west on TC8 65kt MEG/UK-Continent managed to tick up to the tune of $114,270 to $2.93mill.

On the UK- Continent LR1 freight continued unmoved again. The TC16 60kt ARA/West Africa index remained at the WS111 all week.

MR

MRs in the MEG managed to add some value again this week. The TC17 35kt MEG/East Africa index climbed 5.72 points to WS221.79. This corresponds to $22,495 /day on Baltic round trip description.

UK-Continent MRs improved significantly this week. The TC2 37kt ARA/US-Atlantic coast went from WS95 to WS119.38. The Baltic Time Charter equivalent round trip, as a result over doubled to $8,863 /day.

USG MR freight sunk again this week. The TC14 38kt US-Gulf/UK-Continent trip dipped another 23.57 points to WS112.14. A Caribbean trip on TC21, 38kt US-Gulf/Caribbean was also finally assessed 10% lower than this time last week at $564,286.

The MR Atlantic Triangulation Basket TCE went from $19,470 to $17,946.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean, spiked 46 points to WS178.06 mid-week to then resettle to WS166.11 at time of writing. Up on the UK-Continent the TC23 30kt Cross UK-Continent climbed 23.33 points to WS150.   

 

VLCC

The resurge in the VLCC market continued modestly this week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) ultimately ticked up 3.55 points to WS53.2 corresponding to a daily round-trip TCE of $32,978.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) held in the low WS50’s and is currently marked at WS53.06 giving a round voyage TCE of $33,525 per day. In the US Gulf region, the rate for the TD22 route of 270,000 mt US Gulf to China has gained $280,556 to $7,527,778 which shows a daily round trip TCE of $37,618.

 

Suezmax

In the Suezmax market, there was also a welcome upturn in freight levels. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) came up 8.11 points since last Friday to WS89.22 which translates into a daily round-trip TCE of $32.192. The TD27 route (Guyana to UK Continent basis 130,000 mt) added about 4.25 points to WS82.42 meaning a daily round trip TCE of a hair under $30,000. The TD6 route of 135,000 mt CPC/Augusta was raised by 6.72 points to WS97.11 giving a daily TCE of a little over $31,300. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) climbed by 1 point to WS96.11.

 

Aframax

In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7) the rate came down another 3.75 points to close to WS114.58 giving a daily round-trip TCE of about $25,419 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) managed recover this week, adding 8.5 points over the week to WS136.22 (basis Ceyhan to Lavera, that shows a daily round trip TCE of a little over $30,000).

Across the Atlantic, rates softened for the short local voyages. The 70,000 mt East Coast Mexico/US Gulf route (TD26) marked 12.22 points lower to WS129.72 and the 70,000 mt Covenas/US Gulf route (TD9) is now assessed at WS129.06 (a drop of 12.44 points). This translates into a daily round-trip TCE in the low $20,000s.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has been assessed 15.28 points lower to WS124.72 giving a round trip TCE basis Houston/Rotterdam of about $25,100 per day.