Clean

LR2

MEG LR2s lost steam this week. The TC1 75kt MEG/Japan index dropped a modest 7.78 points to WS132.5, with the corresponding TCE returns falling back below the $30,000/day mark to $29,600/day, basis Baltic description.

A voyage west on TC20 90kt MEG/UK-Continent managed to remain relatively flat across the week, around the $3.8 million mark.

The TC15 80kt Mediterranean/East run saw the index close $56,000 up this week at $3.44 million.

LR1

MEG LR1 freight also followed the movements of its larger siblings. The TC5 55kt MEG/Japan index dropped 8.5 points to WS142, corresponding to just over $21,500/day on Baltic description TCE.

A run west on TC8 65kt MEG/UK-Continent ended the week $150,000 lower at $2.88 million.

On the UK-Continent, LR1 freight crept up this week. The TC16 60kt ARA/West Africa index settled 4.3 points higher at WS120, with reports indicating available tonnage was thinner this week, driving the small upturn.

MR

MR freight in the MEG managed to recoup a little this week. The TC17 35kt MEG/East Africa index ticked up 5 points to the WS215 level mid-week, where it currently sits.

On the UK-Continent, MRs have remained flat this week. The TC2 37kt ARA/US-Atlantic Coast index has been consistently marked around WS105 all week. The Baltic TCE for the trip has subsequently held just over $6,000/day.

In the US Gulf, MRs continued their way to the bottom this week. The TC14 38kt US Gulf/UK-Continent voyage dropped 33 points to WS147, with the Baltic TCE for the run shedding 28% of its value to $6,700/day round trip. The Caribbean run on TC21, 38kt US-Gulf/Caribbean, came down from $607,000 to $466,000, with the TCE dropping 47% to $8,900/day on Baltic description.

The MR Atlantic Triangulation Basket TCE fell from $29,237/day to $22,996/day.

Handymax

In the Mediterranean, Handymaxes on TC6, 30kt Cross-Mediterranean index reclaimed some value this week, with the index jumping from WS140 to WS170, taking the Baltic TCE up 78% to around $16,700/day round trip.

The TC23 30kt Cross UK-Continent route climbed another 6 points this week to WS179.

 

VLCC

The VLCC markets again fell back from the higher levels last week, although there seems to be a firming of the markets at the end of the week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) dropped about 19 points to WS107 which corresponds to a daily round-trip TCE of $98,773 for the standard Baltic VLCC.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) lost about 13 points to WS106.5 giving a round voyage TCE of $97,502. The US Gulf to China (TD22) market was decreased by over $430,000 to $13,242,222 which shows a daily round trip TCE of almost $89,000.

 

Suezmax

In the Suezmax sector, the market remains firm with increases seen in the Western markets. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) climbed 12 points to WS159.72 which translates into a daily round-trip TCE of $80,782 while the TD27 route (Guyana to UK Continent basis 130,000 mt) gained 10 points to WS152.43, giving a daily round trip TCE of about $76,300. The TD6 route of 135,000 mt CPC/Augusta moved up 1.5 points to WS161.67 meaning a daily TCE of about $88,200. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) remained around the WS110 level.

 

Aframax

In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) remained flat at the WS156 mark, giving a daily round-trip TCE of just over $65,500 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) slipped 4 points to WS198 (basis Ceyhan to Lavera, that shows a daily round trip TCE of just over $62,200).

Across the Atlantic, the market eased for the shorter intra-region business. The 70,000 mt East Coast Mexico/US Gulf route (TD26) lost 16 points to WS223 (giving a daily round-trip TCE of a little over $64,600) and the 70,000 mt Covenas/US Gulf route (TD9) was reduced by 12 points to WS220 (translating into a daily round trip TCE of almost $58,600).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) however, remained flat at WS221 which gives a round trip TCE basis Houston/Rotterdam of a little over $62,400 per day.

On the Vancouver exports, TD28 (80,000 mt crude oil Vancouver to China) fell back over $185,000 to $3,400,000, while TD29 (80,000 mt crude oil Vancouver to Pacific Area Lightering point off the USWC) gained 12.5 points to WS237.5.