Clean

LR2

The TC1 75kt MEG/Japan index jumped 209 points this week to WS785 returning around $232,000/day on a Baltic round trip basis. A voyage west also shot up 66% to $16.5 million on the TC20 90kt MEG/UK-Continent index. In Europe, the TC15 80kt Mediterranean/East index came off modestly to $6.1 million (-$80,000), with the corresponding TCE now at just under $38,000/day on Baltic description round trip via Suez.

LR1

MEG LR1's also climbed dramatically after some clarifying market activity this week, with the TC5 55kt MEG/Japan index adding 191 points to WS820. A run west on TC8, 65kt MEG/UK-Continent saw the index move up by $2.93 million to $10.82 million.

MR

The TC17 35kt MEG/East Africa index came up this week from WS556 to WS708, this took the Baltic TCE for the run to $86,600/day round trip. On the UK-Continent, MRs remained flat again this week, with the TC2 37kt ARA/US-Atlantic Coast unmoved from its current WS100 bottom and the Baltic TCE for the round trip now at $ -6,400/day. In the US Gulf MR freight softened over the week following Labor Day on Monday.

The TC14 38kt US Gulf/UK-Continent index went from WS250 to WS220. The Baltic round trip TCE for the run is now at $19,100/day. The Caribbean voyage on TC21, 38kt US Gulf/Caribbean followed suit and is currently at $678,571 (-$115,000). The corresponding TCE is now at $14,700/day on Baltic description. The MR Atlantic Triangulation Basket TCE went from $27,200/day to $21,500/day. 

Handymax

In the Mediterranean, Handymax rates came up circa 20 points this week. The TC6 30kt Cross-Mediterranean index is now at WS188, generating a Baltic TCE of $12,700/day, up 64% from last week. The TC23 30kt Cross UK-Continent remained level around the WS175 mark this week with returns at $5,100/day on Baltic description.


VLCC

The rates for the Middle East routes increased dramatically this week, with few ships in position for the numerous cargoes available. The TD3C route (270,000 mt Middle East Gulf to China) rose 21% from WS677.78 last Friday to WS821.11 on Thursday. This gives a daily round-trip TCE of $862,150 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) rose from WS277.5 last Friday to WS450.71 (a 62% increase) on Thursday, meaning a round-trip TCE of $465,764/day.

In the Atlantic market, a similar story played out. The rate for the 260,000 mt West Africa to China route (TD15) gaining over 125 points to WS370 (a 51% increase), giving a round voyage TCE of $353,642/day, while the US Gulf to China route (TD22) made another large step up, rising nearly $6,000,000 to just over $35,110,000, which gives a daily round trip TCE of just over $257,000.


Suezmax

In the Suezmax sector, the market was also firmer across all the Baltic routes. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) rose 77 points to WS326.67, which translates into a daily round-trip TCE of about $162,200. The TD27 route (Guyana to UK Continent basis 130,000 mt) was boosted by 71 points to WS313, giving a daily round trip TCE of just over $156,400. The 145,000 mt USG/UKC (TD33) leapt up 52 points to WS252.22, which gives a round-trip TCE of just over $142,800/day.

In the Black Sea, the market strengthened after the last couple of weeks of ‘calming down’. For the TD6 route of 135,000 mt CPC/Augusta, the rate has been pushed up 75 points to about WS370, which shows a daily round-trip TCE of about $253,500.


Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) regained 11 points to WS216.67, showing a daily round-trip TCE of $103,365 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) steadily climbed 101 points this week to about WS330, basis Ceyhan to Lavera this shows a daily round trip TCE of just over $115,200.

Across the Atlantic, the owners have tightened their grip of the market. The 70,000 mt East Coast Mexico/US Gulf route (TD26) rose 110 points to WS345, giving a daily round-trip TCE of just shy of $94,300 while the 70,000 mt Covenas/US Gulf route (TD9) gained 104 points to the WS322.5-325 level, translating into a daily round trip TCE of about $87,750.

The rate for the trans-atlantic route of 70,000 mt US Gulf/UK Continent (TD25) strongly advanced 136 points to the WS375 mark, which gives a round trip TCE basis Houston/Rotterdam of almost $99,400.

On the Vancouver exports, the TD28 (80,000 mt crude oil Vancouver to China) rose by over $1,400,000 to $4,600,000 (giving a round trip TCE of just under $76,000/day) while TD29 (80,000 mt crude oil Vancouver to PAL point off the US WC) gained 54 points to WS320.