Clean

LR2

The TC1 75kt MEG/Japan index ticked up early this week by 14 points to WS522 where it currently has been for 3 days. A voyage west, on the other hand, dropped marginally with the TC20 90kt MEG/UK-Continent index going from $9.05 million to $8.76 million.

In Europe the TC15 80kt Mediterranean/East index dipped down to the tune of $410,000 to $5.43 million, the corresponding TCE is now at just over $30,300/day on Baltic description round trip.

LR1

MEG LR1s eastbound also firmed early this week to then plateau, the TC5 55kt MEG/Japan index added 11 points up to WS541 however, on a run west on TC8, 65kt MEG/UK-Continent saw the index drop by $299,000 to $6.95 million.

MR

The TC17 35kt MEG/East Africa index declined gently from WS515 to WS500 this week, this took the Baltic TCE for the run to $56,300/day round trip. On the UK-Continent, MR also took a downturn, with the TC2 37kt ARA/US-Atlantic Coast dropping 21 points to WS128.

The Baltic TCE for the round trip is now at $1,300/day. In the US Gulf MR freight levels sunk dramatically this week. WS182 (-134) is now the level for the TC14 38kt US Gulf/UK-Continent index. The Baltic round trip TCE for the run is now at $14,000/day, down 64% from last week.

The Caribbean voyage on TC21, 38kt US Gulf/Caribbean now rests back down at $644,000 after dropping by $448,000. The corresponding TCE is now at $14,300/day on Baltic description. The MR Atlantic Triangulation Basket TCE went from $46,400/day to $21,500/day.

Handymax

In the Mediterranean, Handymax rates came off a modest 5 points this week with the TC6, 30kt Cross-Mediterranean index now at WS220 and the corresponding TCE at $24,700/day on Baltic description. The TC23 30kt Cross-UK Continent remained level this week at around the WS235 level.

VLCC

The rate for the TD3C route (270,000mt Middle East Gulf to China) is now assessed a further 46 points higher than last Friday, at WS475.56, which corresponds to a daily round-trip TCE of $481,286 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) was a mere 6.5 points higher than a week ago at WS170, giving a round-trip TCE of over $145,800/day.

In the Atlantic market, the rate for the 260,000mt West Africa to China route (TD15) lost 10 points over the week to just below WS140, giving a round voyage TCE of about $107,000/day, while the US Gulf to China route (TD22) was reduced by almost $878,000 to $18,766,667, which gives a daily round trip TCE of a little under $118,900.

Suezmax

In the Suezmax sector the rate for the 130,000mt Nigeria/UK Continent voyage (TD20) tumbled 47 points to WS172.22, which translates into a daily round-trip TCE of a little under $71,350. The TD27 route (Guyana to UK Continent basis 130,000mt) in comparison lost about 45 points to just under WS174, giving a daily round trip TCE of close to $73,700. The 145,000mt USG/UKC (TD33) fell 36 points to just below WS162, which gives a round-trip TCE of about $80,700/day.

In the Black Sea, due to persistent issues at the CPC terminal at Novorossiysk, rates have continued to spike. The TD6 route of 135,000mt CPC/Augusta has moved up another 60 points to close to WS504, which shows a daily round-trip TCE of over $377,000.

Aframax

In the North Sea, the rate for the 80,000mt Cross-UK Continent route (TD7) eased 2 points to just below WS213, showing a daily round-trip TCE of over $108,000 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000mt Cross-Mediterranean (TD19) continued to drop, losing about 60 points to the WS242 mark. Basis Ceyhan to Lavera, this shows a daily round trip TCE of just under $73,800.

Across the Atlantic, the market has seen the correction sustained downwards with rates being unsupported by the fundamentals. The 70,000mt East Coast Mexico/US Gulf route (TD26) lost another 72 points to WS335 giving a daily round-trip TCE of about $95,200. The 70,000mt Covenas/US Gulf route (TD9) dropped 70 points to below WS328, translating into a daily round trip TCE of about $89,000.

The rate for the transatlantic route of 70,000mt US Gulf/UK Continent (TD25) plunged over 73 points this week, and is now assessed at about WS307, which gives a round trip TCE basis Houston/Rotterdam of below $78,200.

On the Vancouver exports, the TD28 (80,000mt crude oil Vancouver to China) softened by $41,000 to $3,100,000 (giving a round trip TCE of just less than $42,700/day) while TD29 (80,000mt crude oil Vancouver to Pacific Area Lightering point off the USWC) slipped by 1.5 points to WS250.