Clean

LR2

The recent drop in freight levels on MEG LR2’s took pause this week as the market levelled off. The TC1 75kt MEG/Japan index held around the WS105 level all week with the corresponding TCE returns a touch over $20,000/day basis Baltic Description.

A voyage west on TC20 90kt MEG/UK-Continent similarly floated either a shade over or under the $2.9mill mark.

The TC15 80kt Mediterranean/East trip saw the index flatten tick off incrementally this week from 2.99mill to $2.96mill.

LR1

MEG LR1 freight was also stationary this week. The TC5 55kt MEG/Japan index spent most of the week in the WS110-111 region and managed to climb to WS114 by the end of the week. 

A voyage west on TC8 65kt MEG/UK-Continent ended the week ultimately assessed $57,000 higher at $2.57mill.

On the UK-Continent, LR1 freight was unmoved again this week still at WS115 on the TC16 60kt ARA/West Africa index.

MR

MR freight in the MEG saw a welcome rise this week. The TC17 35kt MEG/East Africa index went from WS180 to WS227.5. This led to a 46% improvement on the Baltic round trip TCE to $24,600 /day.

On the UK-Continent, MRs firmed modestly this week. The TC2 37kt ARA/US-Atlantic Coast index is currently assessed at WS111 (+8.75). The Baltic TCE for the run was therefore taken up to just over the $8,000 $/day level.

In the US Gulf, MR rates exhibited their recent roller coaster movements, upward this week. The TC14 38kt US-Gulf/UK-Continent run began at WS182 and rocketed up throughout the week to WS261. The round-trip TCE earnings rose accordingly from $24,300/day to $40,900/day. The Caribbean trip on TC21, 38kt US-Gulf/Caribbean, jumped by 40% this week to $1.25mill. The Baltic TC24 38kt US-Gulf/Chile voyage also climbed with the index assessed circa $500,000 up from last week at $2.75mill.

The MR Atlantic Triangulation Basket TCE went from $29,933/day to 45,865/day.

Handymax

In the Mediterranean, Handymaxes on TC6, 30kt Cross-Mediterranean, crumbled back down by 20 points to WS130 with Baltic TCE around $6,800/day. The TC23 30kt Cross UK-Continent route softened by a reserved 4 points to WS150.


VLCC

The VLCC markets improved this week with the US Gulf export route having the bigger jump up. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) regained 3 points to WS94.72 which corresponds to a daily round-trip TCE of $85,109.

In the Atlantic market, the rate for 260,000mt West Africa/China (TD15) has risen 4 points to WS92.81 giving a round voyage TCE of $82,482. The US Gulf to China (TD22) market is continuing on the upward trajectory, gaining over $1,800,000 this week to $12,377,778 which shows a daily round trip TCE of around $62,960. The reported last done was by Thai charterers on subjects at $12,400,000 for China discharge, while owners’ sentiment remains firm off the back of a tight Atlantic list although more vessels are ballasting West on spec.


Suezmax

In the Suezmax sector, the market firmed further with the biggest rise seen in the Atlantic markets. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) rose 25 points from last Friday, now at WS131.94 which translates into a daily round-trip TCE of $64,394. The TD27 route (Guyana to UK Continent basis 130,000 mt) in tandem with West Africa, rose by 27 points week-on-week to WS129.87 meaning a daily round trip TCE of a little over $63,000. The TD6 route of 135,000 mt CPC/Augusta moved up 8.5 points to WS149.33 giving a daily TCE of about $79,300. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) is gained 4 points to WS103.56.


Aframax

In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) remained flat at the WS142 mark giving a daily round-trip TCE of just over $53,600 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) continued to improve, adding 12.5 points this week to WS171.36 (basis Ceyhan to Lavera, that shows a daily round trip TCE of just over $50,100).

Across the Atlantic, the market made meagre gains. The 70,000 mt East Coast Mexico/US Gulf route (TD26) had 3 points added week-on-week to just shy of WS150 (giving a daily round-trip TCE of a little over $32,500) and the 70,000 mt Covenas/US Gulf route (TD9) is about 2 points firmer at the WS145 mark (translating into a daily round trip TCE of just over $31,000).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) gained another 9 points to a little over WS167 giving a round trip TCE basis Houston/Rotterdam of about $43,500 per day.

On the Vancouver exports, TD28 (80,000 mt crude oil Vancouver to China) remained around $2,825,000 and TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point off the USWC) remained at WS190.