Clean

LR2

MEG LR2 freight was resolute this week with much of the industry in London attending International Energy Week. The TC1 75kt MEG/Japan index continued at around the WS120 mark and TC20 90kt MEG/UK-Continent assessments remained around the $3.35m – $3.4m level.

West of Suez, Mediterranean/East LR2’s of TC15 dipped from $2.9m to $2.85m.

LR1

MEG LR1’s as with the 2’s remained stable this week. The TC5 55kt MEG/Japan index held level around WS137.5-140. A voyage west on TC8 65kt MEG/UK-Continent finished the end of the week at $2.78m up from $2.72m.

On the UK- Continent, the TC16 60kt ARA/West Africa index held at the WS125 mark without much movement this week.

MR

MR’s in the MEG continued their upward trend for the second week on week, reflected in the TC17 index, 35kt MEG/East Africa index going from WS208.93 to WS222.86. 

UK-Continent MR’s had a small run during the week, moving the TC2 index 37kt ARA/US-Atlantic coast up to WS162.81 on Tuesday where it paused and has since returned to WS155.31 where it started the week. These freight levels equate to around $16,000-18,000 /day Baltic description round trip. The TC19 run of 37kt ARA/West Africa as usual followed the same pattern just with around a 22.5 point premium to TC2. 

In the USG, MR Freight crumbled this week. TC14 38kt US-Gulf/UK-Continent went from WS111.43 to WS90. The TC18 the 38kt US Gulf/Brazil index lost 15 points to WS144.29 and a Caribbean run on TC21, 38kt US-Gulf/Caribbean dropped $70,000 to $440,714.

Handymax

Baltic Clean Handymax routes were tested back down this week. In the Mediterranean, the TC6 index dumped 52.5 points to WS157.5 with WS150 reported on subjects at time of writing. Up on the UK-Continent the TC23 30kt Cross UK-Continent held flat at around WS200.  


VLCC

The market steadily dropped this week. The 270,000 mt Middle East Gulf to China trip (TD3C) fell 5 points week-on-week to WS58.10 corresponding to a round-trip TCE of $37,997 per day basis the Baltic Exchange’s vessel description.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) fell about 2.5 points to WS59.83 giving a round voyage TCE of $40,610 per day. The rate for 270,000 mt US Gulf/China (TD22) is now assessed $210,000 less than a week ago at $8,122,500 which shows a daily round trip TCE of $42,167 (which actually is only about $700 per day lower than this time last week).


Suezmax

Suezmax owners have again felt the pressure this week with the rate for 130,000 mt Nigeria/UK Continent voyage (TD20) falling 6 points to settle at WS85 meaning a daily round-trip TCE of $33,818 while the TD27 route (Guyana to UK Continent basis 130,000 mt) has dipped 3 points to WS84.06 translating into a daily round trip TCE of $32,978 basis discharge in Rotterdam.  For the TD6 route of 135,000 mt CPC/Med, charterers have chipped away at owners translating into a fall of about 10 points to WS103.75. This shows a daily TCE of a $41,640 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 hovered at the WS89-90 level.


Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) remained flat at WS110 giving a daily round-trip TCE of a little over $29,000 basis Hound Point to Wilhelmshaven.

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) has continued sliding and has lost 7 points since a week ago to the WS122.5 level (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $29,700).

Across the Atlantic, the market has settled for the shorter-haul business with the rate for 70,000 mt East Coast Mexico/US Gulf route (TD26) remaining around WS132.5 and the 70,000 mt Covenas/US Gulf route (TD9) dipping slightly to the WS130 mark, which shows a daily round-trip TCE of about $24,800 and $24,000, respectively.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) on the other hand has firmed by 12.5 points to WS156.67 giving a round trip TCE basis Houston/Rotterdam of $38,214 per day.