Clean

LR2

LR2 freight in the MEG remained balanced this week with rates stable. The TC1 75kt MEG/Japan index stayed in the high WS120’s to Low WS130’s. A TC20 90kt MEG/UK-Continent trip also hovered around the $3.7mill mark.

West of Suez, Mediterranean/East LR2’s didn’t move from $2.9mill for the second week on week for a TC15 Baltic description voyage.

LR1

MEG LR1’s held flat again this week. The TC5 55kt MEG/Japan index managed to climb a modest 4.06 points to WS150 following some reported charterers on subjects at that level. A voyage west on TC8 65kt MEG/UK-Continent managed to tick up $89,310 to $3.02mill.

On the UK- Continent LR1 freight remained dormant with the TC16 60kt ARA/West Africa index at WS111 all week. This keeps the Baltic round trip TCE at around the $16,000 /day.

MR

MRs in the MEG were unwavering this week. The TC17 35kt MEG/East Africa index lingered around WS226-227 all week. This corresponds to around $23,000 /day on Baltic round trip description.

UK-Continent MRs were a little in flux this week. The TC2 37kt ARA/US-Atlantic coast went from WS120.31 to WS129.38 and back to WS123.75 at time of writing. The Baltic Time Charter equivalent round trip, did spike at just over $10,000/day at that WS129 level.

USG MR freight resurged in line with how we’ve come to expect this week. The TC14 38kt US-Gulf/UK-Continent trip jumped 34.65 points to WS146.79. A Caribbean trip on TC21, 38kt US-Gulf/Caribbean was also finally assessed 33% higher than this time last week at $750,000.

The MR Atlantic Triangulation Basket TCE went from $18,067 to $24,729.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean, went up 13.89 points to WS178.33. Up on the UK-Continent the TC23 30kt Cross UK-Continent was assessed a modest 5.83 points better from last week at WS156.39 where it’s plateaued for now.   

 

VLCC

The VLCC market slid down this week with rates falling in all regions. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) fell back 7 points to WS46.15 corresponding to a daily round-trip TCE of $25,493.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) dropped 5 points to WS48.5 giving a round voyage TCE of $28,863 per day. In the US Gulf region, the rate for the TD22 route of 270,000 mt US Gulf to China has lost $508,333 and is now assessed at $7,036,111 which shows a daily round trip TCE of $33,680. Brokers have suggested there is more room for further losses here with an over supply of vessels and not enough cargo interest to slow the downfall.

 

Suezmax

In the Suezmax market, sentiment turned downwards in West Africa but held steady in the Black Sea and Middle East. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) collapsed over12 points to between WS77.5 and WS75 which translates into a daily round-trip TCE of about $27,000. The TD27 route (Guyana to UK Continent basis 130,000 mt) in comparison lost a meagre 5 points to be assessed at the WS77 level meaning a daily round trip TCE in line with TD20. The TD6 route of 135,000 mt CPC/Augusta remained at the WS96 level 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) was steady at the WS96 mark.

 

Aframax

In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7) the rate remained at WS115 giving a daily round-trip TCE of $25,130 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) shed 7 points to the WS130 level (basis Ceyhan to Lavera, that shows a daily round trip TCE of a touch above $26,200).

Across the Atlantic, rates continued to slide. The 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) had 13 points peeled away, translating into daily round-trip TCEs of about $15,000 and $16,000, respectively.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) eased 3.5 points to WS120 giving a round trip TCE basis Houston/Rotterdam of about $23,600 per day.