Clean

LR2

LR2 freight in the MEG continued to firm modestly this week. The TC1 75kt MEG/Japan index added 5.28 points to WS153.06. A TC20 90kt MEG/UK-Continent trip also ticked up over the $4 million mark to $4.16 million. West of Suez, Mediterranean/East LR2’s continue to trundle along around $2.9 million for a TC15 Baltic description voyage for the moment.

LR1

MEG LR1’s firmed with some gusto this week. The TC5 55kt MEG/Japan index added a welcome 20.31 points to WS175.94. A voyage west on TC8 65kt MEG/UK-Continent also moved up $185,705 to $3.32 million. On the UK-Continent LR1 freight remained unmoved again. The TC16 60kt ARA/West Africa index is still around WS112.5.

MR

MR freight in the MEG climbed gently this week. The TC17 35kt MEG/East Africa index went from WS243.57 to WS252.14, corresponding to a little under $25,000/day on Baltic round trip description.

UK-Continent MRs took off dramatically late in the week. The TC2 37kt ARA/US-Atlantic coast went from WS109.69 mid-week to WS120.94 overnight. This saw the Baltic timecharter equivalent round trip for the run to jump from $6,428 to $10,039/day.

USG MR freight has also shot up this week. The TC14 38kt US-Gulf/UK-Continent trip has jumped from WS167.5 to WS199.29 following a flurry of activity later in the week. A Caribbean trip on TC21, 38kt US-Gulf/Caribbean also saw a striking rise of 48% to $1.13 million.

The MR Atlantic Triangulation Basket TCE went from $26,573 to $34,909.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean continued along the mid-high WS180’s all week. The TC23 30kt Cross UK-Continent was also relatively stable, floating around the high WS140’s to low WS150’s all week.

 

VLCC

The VLCC turned around this week with rates improving on all Baltic routes. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) climbed 12 points to WS56.65 corresponding to a daily round-trip TCE of $37,158.

In the Atlantic market, the rate for 260,000mt West Africa/China (TD15) increased by 6 points to WS56.31 giving a round voyage TCE of $37,398 per day. In the US Gulf region, the rate for the TD22 route of 270,000mt US Gulf to China regained over $436,000 to just shy of $7,100,000 which shows a daily round trip TCE of about $34,200.

 

Suezmax

In the Suezmax market, rates significantly improved in the West, although not so much in the Middle East. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) shot up 34 points to WS120.56, which translates into a daily round-trip TCE of $55,657. The TD27 route (Guyana to UK Continent basis 130,000 mt) followed suit, gaining 38 points to WS120.56 meaning a parity with TD20 in the daily round trip TCE of $55,532. The TD6 route of 135,000 mt CPC/Augusta improved by 26 points to a fraction below WS130 giving a daily TCE of more than $61,100. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) gained two points to the WS98 level.

 

Aframax

In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7), the rate gained a point to WS119.58 giving a daily round-trip TCE of $31,251 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) slipped two points to WS148.83 (basis Ceyhan to Lavera that shows a daily round trip TCE of just shy of $37,800).

Across the Atlantic, the market peaked mid-week and started a downhill journey, which may continue into next week. The 70,000 mt East Coast Mexico/US Gulf route (TD26) lost 14 points to about WS167 (giving a daily round-trip TCE of about $39,200) and the 70,000 mt Covenas/US Gulf route (TD9) lost 19 points to about WS157 (translating into daily round trip TCE of around $34,100).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) fell 24 points since last Friday to WS151.11, giving a round trip TCE basis Houston/Rotterdam of $36,160/day.

Two new routes went ‘live’ this week: TD28 (80,000 mt crude oil Vancouver to China) and TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point on the US West Coast). TD28 was published on Thursday at $1,850,000, which is $87,500 down for the week, while TD29 was published on Thursday at WS133.75, which is a loss of about three points for the week.