Clean

LR2  

MEG LR2’s plateaued and began to fall back down this week. TC1 75kt MEG/Japan was assessed 31.39 points less to WS140 and heading West on TC20 90kt MEG/UK-Continent went from $4.36m to $3.94m.

West of Suez, Mediterranean/East LR2’s of TC15 managed to tick up $100,000 to $3.27m. 

LR1  

The TC5 55kt MEG/Japan also came down significantly this week, dropping 33.43 points to take the index to WS139.98. A run to the UK-Continent on TC8 65kt MEG/UK-Continent also came off nearly 25% to $2.84m.

On the UK- Continent, the TC16 60kt ARA/West Africa index climbed to WS123.89 (+9.17) off the back of some early week activity.

MR

MR’s in the MEG saw a dramatic recorrect down this week. The TC17 35kt MEG/East Africa index shed 40.72 points to WS185.71 but has held here for the last 2 days at time of writing.

UK-Continent MR’s topped out this week. This was around the WS180 mark for the TC2 index 37kt ARA/US-Atlantic coast which since its peak mid-week has returned back to WS167.19 taking the Baltic TCE for the run back below $20,000 /day round trip to $18,175 /day. TC19 37kt ARA/West Africa also peaked at a hair over WS200 but is now back to WS189.06.

Freight for MR’s in the USG came off in steps this week.  TC14 38kt US-Gulf/UK-Continent was marked 12.15 points lower than last Friday at WS115.71 with the Baltic TCE showing $9,526 /day for the trip. TC18 the 38kt US Gulf/Brazil index dropped from WS185 to WS165.71 and a Caribbean run on TC21, 38kt US-Gulf/Caribbean came down 21% to $495,000.

The MR Atlantic Triangulation Basket TCE went from $28,100 to $25,020.

Handymax

Both BCTI Handymax routes improved again this week. In the Mediterranean, TC6 index shot up 47.23 points to WS221.67 and up on the UK-Continent the TC23 30kt Cross UK-Continent went from WS190 to WS193.89.  


VLCC

The market crashed back close to the levels seen 2 weeks ago. The 270,000 mt Middle East Gulf to China trip (TD3C) fell 23 points to WS54.15 giving a daily round-trip TCE of $31,568 basis the Baltic Exchange’s vessel description.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) tumbled 18 points to WS59.33 (corresponding to a round voyage TCE of $37,517 per day), while the rate for 270,000 mt US Gulf/China (TD22) lost $1,285,000 to $8,750,000 (which shows a daily round trip TCE of $44,635).


Suezmax

The Suezmaxes have weakened as well although as this asset size had not reached the heady highs seen on VLCCs, the reduction is less dramatic. The 130,000 mt Nigeria/UK Continent voyage (TD20) fell 9 points to WS76.67, meaning a daily round-trip TCE of $27,132 while the TD27 route (Guyana to UK Continent basis 130,000 mt) fell 5.5 points to WS73.67 which translates into a daily round trip TCE of $24,904 basis discharge in Rotterdam. For the TD6 route of 135,000 mt CPC/Med, the rate lost almost 2 points to WS88.25 (showing a daily TCE of $27,097 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) eased a point to around the WS98.5 level.


Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) hovered around the WS110 level again giving a daily round-trip TCE of about $19,691 basis Hound Point to Wilhelmshaven.

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) rose 7 points to WS131.78 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $34,055).

Across the Atlantic, the market slackened further. The 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) saw rates lose around 14 points to both end up at the WS117 level, which shows a daily round-trip TCE of around $19,000 and $17,300 respectively. The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) fell back 15 points to WS115.28 (giving a round trip TCE basis Houston/Rotterdam of $22,130 per day) which will not encourage ballasters from Europe for the time being.