Clean

LR2

MEG LR2’s improved modestly this week. The TC1 75kt MEG/Japan index ticked up from WS117.22 to WS126.67 and a TC20 90kt MEG/UK-Continent held flat around the $3.5m.

West of Suez, Mediterranean/East LR2’s remained sedate with the TC15 index dipping $35,000 to just under the $3.1m mark.

LR1

MEG LR1 freight also climbed this week, and a little more optimistically that the LR2’s. The TC5 55kt MEG/Japan index gained 19.88 points to WS149.88. A voyage west on TC8 65kt MEG/UK-Continent went from $2.65m to $2.84m.

On the UK- Continent LR1’s continued along their current path for the second week on week. The TC16 60kt ARA/West Africa index remained at around the WS130 level with the Baltic TCE just under $24,000 /day round trip.

MR

MRs in the MEG also pushed upwards this week. The TC17 35kt MEG/East Africa index climbed from WS198.93 to WS211.43 tanking the Baltic TCE for the run up and over $20,000 /day round trip.

UK-Continent MRs were a little sluggish this week. The TC2 37kt ARA/US-Atlantic coast trip came down 4.38 points to WS147.5 but late week activity is currently reported to be on subjects at higher levels at time of writing. The Baltic description round trip TCE for the run dropped to $16,231 /day (-$878). The TC19 voyage of 37kt ARA/West Africa index as usual continued to follow TC2 and went from WS172.19 to WS167.5.

USG MRs ultimately sunk back down again this week. The TC14 38kt US-Gulf/UK-Continent went from WS128.57 to WS107.56. The TC18 the 38kt US Gulf/Brazil index dropped 21.43 points to WS155 and a Caribbean run on TC21, 38kt US-Gulf/Caribbean came off 23% to $503,571.

The MR Atlantic Triangulation Basket TCE went from $26,808 to $22,498.

Handymax

Baltic Clean Handymax’s remained relatively flat in the Mediterranean this week, the TC6 index did however drop from WS175.56 to WS169.72. Up on the UK-Continent the TC23 30kt Cross UK-Continent also shed 10.28 points to WS170.

VLCC

The market has turned around again, and gains have been made on all routes this week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) has climbed 5 points since Easter to WS70.93 corresponding to a round-trip TCE of $55,010.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) rose 4 points to WS68.41 giving a round voyage TCE of $52,418 per day. The rate for 270,000 mt US Gulf/China (TD22) has been steadily recovering and is now $237,942 higher than just before the Easter break at $8,347,667 which shows a daily round trip TCE of $45,941.

Suezmax

Suezmax owners continued to push on upwards in West Africa. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) climbed 9 points to WS120.28 meaning a daily round-trip TCE of $57,338 while the TD27 route (Guyana to UK Continent basis 130,000 mt) only rose 4 points to WS115.28 translating to a daily round trip TCE of $54,152 basis discharge in Rotterdam. The CPC terminal issues seem to be very much in the rearview, and the rate for the TD6 route of 135,000 mt CPC/Med has been steady this week at about the WS135 level showing a daily TCE of about $67,939 round-trip. In the Middle East, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) has continued to be steady at the WS91 level.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) has had 2 points added, reaching a whisker away from WS140, giving a daily round-trip TCE of $55,065 basis Hound Point to Wilhelmshaven.

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) has slid down 8 points to WS181.11 (basis Ceyhan to Lavera, that shows a daily round trip TCE about $61,100).

Across the Atlantic, the peak has been reached, and rates have started to tumble. For the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) the rates are 28 and 27 points down since Thursday 17th April at about WS193 and WS190, respectively, which shows a daily round-trip TCE of around $52,500 and $48,100.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has had 17 points cut away this week to WS176.39 giving a round trip TCE basis Houston/Rotterdam of $46,507 per day.