Clean

The BCTI continued its impressive rise in recent months with the index finishing the week just a shade over the 1700 mark. In the Middle East Gulf freight levels earnings have continued to grow as owners are feeling able to push for higher rates on the back of plentiful cargoes. And, with more July stems expected, it seems likely that the numbers seen so far could be pushed even higher. LR2s have been very active this week with WS300 (+ WS72.1)  done on TC1 75k Middle East Gulf / Japan  (equivalent TCE of $55,409/day). West of Suez, on the LR2s, TC15, 80k Mediterranean / Japan, has also seen improved sentiment increasing from US$4.2m last week to US$4.6m

The MRs of TC17, 35kt Middle East Gulf / East Africa, came off 101.66 points to WS459.17 (equivalent TCE of $55,569/day).The LR1s on TC16 60k Amsterdam / Offshore also improved on last week’s activity with at least one vessel fixed for a voyage at WS270 and with expectations for higher in the coming weeks. 

On the UK-Continent, MRs saw the TC2 (WS365) and TC19 (WS374.29) softening in tandem together as owners are currently less willing to end up in West Africa due to high bunker prices and repositioning costs. 

U.S. Gulf MRs have had a good week with TC14, 38k US Gulf / UK-Continent, increasing to WS 178.57 (+6.43) and TC18 the MR US Gulf / Brazil run also improving to finish the week at WS260.71 (+17.14).  Baltic Handymax on TC9  30kt CPP Primorsk / Le Havre has crept up this week from WS430 to WS442.86. In the Mediterranean TC6 30kt Skikda / Lavera has improved from WS411.25 to WS491.88.

 

VLCC

VLCC fixing rates were modestly firmer this week, with 280,000mt Middle East Gulf/USG (via Cape of Good Hope) climbing almost one point to WS26.4 while rates for the 270,000mt Middle East Gulf/China trip were flat at just below WS45 (a round trip TCE of minus $20,300 per day).

In the Atlantic markets the rate for 260,000mt West Africa/China rose a meagre point to WS45.5 (minus $17,500 per day round-trip TCE) and the rate for 270,000mt US Gulf/China voyage rose $106,250 to almost $5.49m (a round voyage TCE of minus $20,200 per day).


Suezmax

Rates for the 135,000mt Black Sea/Augusta changed course this week and rose 17 points to about the WS130 level (a round-trip TCE of $24,100 per day), while the 130,000mt Nigeria/UKC route saw rates soar 21 points to a shade above WS115 (a round-trip TCE of about $15,300 per day). In the Middle East rates for the 140,000mt Basrah/West Mediterranean steadily rose five points to the WS62.5 mark.


Aframax

The 80,000mt Ceyhan/Mediterranean market saw a continued ascent this week, with rates improving a further 21 points through the WS200 barrier to between WS202.5-205 (showing a round-trip TCE of about $41,400 per day). In Northern Europe rates saw upward movements with 80,000mt Hound Point/UK Continent up 18.5 points to WS160 (a daily round trip TCE of $23,600) and for the 100,000mt Primorsk/UK Cont route eight points firmer at WS174 (a round trip TCE of $32,800/day). Across the Atlantic, the 70,000mt EC Mexico/US Gulf route dipped two points at the very end of last week and has now recovered that lost ground to settle back at WS180 (a round-trip TCE of $16,400 per day) and for the 70,000mt Caribbean/US Gulf route rates have remained steady at just over WS175 (a round-trip TCE of about $14,100 per day). For the Transatlantic trip of 70,000mt US Gulf/UK Continent, rates have been pushed up about two points to WS171 ($13,800 per day round-tip TCE).