Clean

LR2

MEG LR2’s continued their upward trajectory this week on freight. The TC1 75kt MEG/Japan index climbed another 18 points up to WS141 with the corresponding TCE returns pushing up to $32,600/day basis Baltic Description.

A voyage west on TC20 90kt MEG/UK-Continent similarly rose $206,000 to $3.88 million.

The TC15 80kt Mediterranean/East run saw the index assessed $126,000 up this week to $3.32 million.

LR1

MEG LR1 freight was also firmed modestly this week. The TC5 55kt MEG/Japan index added seven points to WS150, which at time of writing is currently reported on subjects. This corresponds to just under $24,000/day on Baltic description TCE.

A run west on TC8 65kt MEG/UK-Continent ended the week marked $100,000 higher at $3.06 million.

On the UK-Continent, LR1 freight remained flat for another week at the WS115 mark or thereabouts on the TC16 60kt ARA/West Africa index.

MR

MR freight in the MEG was reportedly oversupplied with tonnage this week. Despite this, the TC17 35kt MEG/East Africa index managed to hover around the WS205-WS212.5 level.

On the UK-Continent, MRs have shown a little recovery this week. The TC2 37kt ARA/US-Atlantic Coast index is currently assessed at WS104 up from it mid-week mark of WS95. The Baltic TCE for the trip managed to creep up back over the $5,000/day to $6,400/day.

In the US Gulf, MR rates exhibited on their downturn periods we have come to expect. The TC14 38kt US-Gulf/UK-Continent voyage began at WS200 dropped to WS184. The Caribbean run on TC21, 38kt US-Gulf/Caribbean came down from $735,000 to $635,000.

The MR Atlantic Triangulation Basket TCE went from $31,900/day to $29,800/day.

Handymax

In the Mediterranean, Handymaxes on TC6, 30kt Cross-Mediterranean index shed just over 50 points to WS140, which slashed the Baltic TCE for the run by 62% to a little over $8,000/day roundtrip. The TC23 30kt Cross UK-Continent route managed to climb 7.22 points to WS171.

 

VLCC

The VLCC markets strengthened further this week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) went up by 36.89 points to settle on WS127.83, which corresponds to a daily round-trip TCE of $123,776.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) also increased by 27.56 points to WS117.94, giving a round voyage TCE of $110,975. In the US Gulf region, the rate increased by $1,097,000 to settle on the $13,000,000 mark, which shows a daily round trip TCE of about $89,692.

 

Suezmax

In the Suezmax sector, rates also firmed. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) went up 9.72 points to settle at WS145, which translates into a daily round-trip TCE of $71,425. The TD27 route (Guyana to UK Continent basis 130,000 mt) gained 5.06 points to close at WS141.17, meaning a daily round trip TCE of $68,999. The TD6 route of 135,000 mt CPC/Augusta firmed by 13.17 points to rest at WS159.17, giving a daily TCE of about $85,921. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) increased by 4.28 points to WS108.17.

 

Aframax

In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) gained 5.83 points this week to WS155.83, giving a daily round-trip TCE of close to $64,495 basis Hound Point to Wilhelmshaven. In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) made a gain of 0.67 points to WS202.50 (basis Ceyhan to Lavera, showing a daily round trip TCE of about $64,234).

Across the Atlantic, the market continued to make upward moves for the Baltic routes. The 70,000 mt East Coast Mexico/US Gulf route (TD26) gained 70 points to the WS238.33 (giving a daily round-trip TCE of $71,366) and the 70,000 mt Covenas/US Gulf route (TD9) increased by 62.81 points to WS229.69 (translating into a daily round trip TCE of just over $61,999).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) increased by 27.22 points to WS222.5 giving a round trip TCE basis Houston/Rotterdam of $62,604/day.

On the Vancouver exports, TD28 (80,000 mt crude oil Vancouver to China) gained $512,500 to $3,312,500 and TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point on the US West Coast) rose 10 points to WS205.