Clean

LR2

The TC1 75kt MEG/Japan index climbed from WS543 to WS589 this week.

A voyage west also saw the TC20 90kt MEG/UK-Continent index rise $362,000 to $10.2 million.

The TC15 80kt Mediterranean/East index was consistently marked around $11.5 million this week, with the corresponding TCE at $113,000/day on Baltic description round trip.

LR1

The TC5 55kt MEG/Japan index has also been assessed up 52 points this week to W621.

A trip west on TC8 65kt MEG/UK-Continent ended the week with the index $485,000 better to $7.55 million.

MR

The TC17 35kt MEG/East Africa index remained unperturbed this week at around the WS705 mark.

On the UK-Continent, MRs this week with freight rates dipped. The TC2 37kt ARA/US-Atlantic Coast index was assessed 33 points lower than last week at WS279 with the Baltic TCE for the round trip now at $30,000/day.

In the US Gulf, MR freight bumped up and down this week. The TC14 38kt US Gulf/UK-Continent run is currently assessed at WS555 (-8) after peaking at WS579 midweek. The Baltic round trip TCE for the run is now at $79,000/day. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean mirrored this and is currently assessed at $2.38 million, the corresponding TCE is now at $115,000 /day on Baltic description.

The MR Atlantic Triangulation Basket TCE went from $110,000/day to $106,000/day.

Handymax

In the Mediterranean, Handymax freight dropped off this week and the TC6, 30kt Cross-Mediterranean index ended up at WS458 (-67) translating to $93,000/day on Baltic TCE round trip.

The TC23 30kt Cross UK-Continent route firmed up 20 points to WS503 this week which generates $102,000/day on Baltic TCE round trip.


VLCC

Transits through the Straits of Hormuz remain limited, with reports this week of a blockade by the US Navy.  Rates for the TD3C route (270,000mt Middle East Gulf to China) are now being assessed at WS467.22 (from WS448.22 last Friday), which corresponds to a daily round-trip TCE of almost $474,000 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) was assessed on Thursday at WS176, about 8 points lower than last Friday.

In the Atlantic market, the rate for the 260,000mt West Africa to China route (TD15) has dropped further, from WS157.81 a week ago to WS139.06 giving a round voyage TCE of almost $109,000, while in the same period the US Gulf to China route (TD22) has fallen from $18,083,333 to $16,550,000 which gives a daily round trip TCE of nearly $102,250.
 

Suezmax

In the Suezmax sector, even though market rates have fallen greatly, returns are still very healthy. The rate for the 130,000mt Nigeria/UK Continent voyage (TD20) trip fell 92 points to WS192.11 which translates into a daily round-trip TCE of over $82,600. The TD27 route (Guyana to UK Continent basis 130,000mt) fell 90 points to WS195 giving a daily round trip TCE of about just over $85,700. The Baltic route of 145,000mt USG/UKC (TD33), lost 86 points to WS187.22.

In the Black Sea, rates for the TD6 route of 135,000mt CPC/Augusta are assessed 80 points lower than last week, at WS347.22 meaning a daily TCE of about $232,350.

In the Middle East, the TD23 route of 140,000mt Middle East Gulf to the Mediterranean (via the Suez Canal), rate assessments by the Baltic Exchange’s panellists, remain theoretical and stayed flat in the WS585-590 range.
 

Aframax

In the North Sea, the rate for 80,000mt Cross-UK Continent route (TD7) lost 57.5 points to WS325, giving a daily round-trip TCE of about $221,300 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000mt Cross-Mediterranean (TD19) fell another 144 points this week to WS306.17 (basis Ceyhan to Lavera, that shows a daily round trip TCE of over $107,500).

Across the Atlantic, the market has had a significant correction yet still showing very firm returns. The 70,000mt East Coast Mexico/US Gulf route (TD26) is now almost 400 points lower than last Friday at WS440.83 giving a daily round-trip TCE of over $138,000. The 70,000mt Covenas/US Gulf route (TD9) has lost 394 points to WS436.25 (translating into a daily round trip TCE of just over $124,800).

The rate for the transatlantic route of 70,000mt US Gulf/UK Continent (TD25) has been reduced by 230 points to WS346.11 which gives a round trip TCE basis Houston/Rotterdam of about $91,500/day.

On the Vancouver exports, the rate for TD28 (80,000mt crude oil Vancouver to China) fell back $200,000 to $5,320,000 (giving a round trip TCE of just over $96,400/day) while TD29 (80,000mt crude oil Vancouver to Pacific Area Lightering point off the USWC) has lost 56 points to WS383.