Clean

LR2

LR2 freight in the MEG was steady with modest improvement this week. The TC1 75kt MEG/Japan index climbed from WS140 to WS147.5. A TC20 90kt MEG/UK-Continent trip also ticked up $12,500 of value to $3.93 million. West of Suez, Mediterranean/East LR2’s ended the week assessed $20,000 higher at $2.97 million for a TC15 Baltic description voyage.

LR1

MEG LR1’s tracked downward this week. The TC5 55kt MEG/Japan index fell 7.81 points to WS149.69. A voyage west on TC8 65kt MEG/UK-Continent also moved down $85,735 to $2.97 million.

On the UK-Continent LR1 freight managed to creep from WS112.5 to WS115.5, with reports of available tonnage tightening for the TC16 60kt ARA/West Africa index.

MR

MR freight in the MEG held stable this week. The TC17 35kt MEG/East Africa index went from WS220.71 to WS217.14.

UK-Continent MRs were pushed back downward this week. The TC2 37kt ARA/US-Atlantic coast went from WS121.88 to WS110.63. This saw the Baltic TCE round trip for the run drop 20% to $7,974/day.

USG MR freight continued its strong upwards movement this week. The TC14 38kt US-Gulf/UK-Continent trip jumped by another 43.22 points to WS249.29, increasing the Baltic TCE by 30% to $37,541/day round trip. A Caribbean run on TC21, 38kt US-Gulf/Caribbean also saw a significant upturn of $276,428 to $1.39 million also seeing the TCE move up from $46,472/day to $62,566/day on Baltic description round trip.

The MR Atlantic Triangulation Basket TCE went from $36,201 to $42,749.

Handymax

The Mediterranean Handymax of TC6, 30kt Cross Mediterranean remained unmoved at WS135 all week. The TC23 30kt Cross UK-Continent managed to climb a meagre 4.72 points to WS154.72.

 

VLCC

The VLCC markets in the Middle East and West Africa slipped slightly while the US Gulf rates continued the recent upward trajectory. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) slipped 1.5 points to WS66.5, corresponding to a daily round-trip TCE of close to $49,034.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) also eased 1.5 points week-on-week to WS64.81, giving a round voyage TCE of $47,382. In the US Gulf region, the rate for the TD22 route of 270,000 mt US Gulf to China improved by another $341,111 to $8,136,111, which shows a daily round trip TCE of about $43,300.

 

Suezmax

In the Suezmax sector, the market has peaked but remains firm. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) eased back four points to WS107.78, which translates into a daily round-trip TCE of about $47,800. The TD27 route (Guyana to UK Continent basis 130,000 mt) slipped two points to WS106.78, meaning a daily round trip TCE of a little less than $47,000. The TD6 route of 135,000 mt CPC/Augusta is slightly weaker than a week ago, losing two points to WS142.5 giving a daily TCE of just over $72,250. In the Middle East, the TD23 route of 140,000mt Middle East Gulf to the Mediterranean (via the Suez Canal) lost about 2.5 points to the WS100 mark.

 

Aframax

In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) fell back three points to the WS140 level, giving a daily round-trip TCE of close to $51,300 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) continued the falling streak, losing 6.5 points to the WS135 mark (basis Ceyhan to Lavera that shows a daily round trip TCE of about $30,800).

Across the Atlantic, the market climbed for the Baltic routes. The 70,000mt East Coast Mexico/US Gulf route (TD26) gained 5 points to the WS158 level (giving a daily round-trip TCE of about $35,400) and the 70,000mt Covenas/US Gulf route (TD9) recovered about 7 points to the WS155 mark (translating into daily round trip TCE of just close to $33,300).

The rate for the trans-Atlantic route of 70,000mt US Gulf/UK Continent (TD25) was boosted by 13 points to WS168.61 giving a round trip TCE basis Houston/Rotterdam of $42,657/day.

On the Vancouver exports, TD28 (80,000 mt crude oil Vancouver to China) slipped $37,500 to $1,787,500 and TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point on the USWC) was 11 points weaker at WS115.