Clean

LR2

LR freight levels in the MEG continued downward this week. The 75kt MEG/Japan TC1 index lost 20% of its value to WS144.72.

The 90kt MEG/UK-Continent TC20 trip to the UK-Continent also came down to the tune of $556,250 leaving the index currently at $4.47 million.

West of Suez, Mediterranean/East LR2 freight took a hit this week as the prolonged hiatus of activity continued. TC15 subsequently went from $5.8 million to $4.9 million for the run.

LR1

In the MEG, LR1 freight continued to be tested down this week. The 55kt MEG/Japan index of TC5 dropped to WS174.38 (-WS34.37). The 65kt MEG/UK-Continent of TC8 came off another $399,000 this week to rest currently at $3.92 million.

On the UK-Continent, the 60kt ARA/West Africa TC16 trip was flogged down this week seen in the index losing 25.94 points to WS187.81.

MR

MR’s in the MEG plateaued this week after last week’s significant improvement. TC17 is stable around the WS320 mark for the moment.

Up in the UK-Continent lots of industry delegates were in London attending International Energy week over the last few days, despite this MR freight levels held stable. The 37kt ARA/US-Atlantic coast of TC2 index floated around high WS240’s-Low WS250’s. On a TC19 run (37kt ARA/West Africa) the index mirrored the TC2 movement and hovered around the WS267.5-272.5 level.

The USG MR’s have suffered from another week of reportedly low demand for tonnage. TC14 (38kt US-Gulf/UK-Continent) dropped from WS172.5 to WS150.71. The 38kt US Gulf/Brazil on TC18 also shed 18.21 points to WS233.93. The 38kt US-Gulf/Caribbean TC21 is currently pegged at $705,714, down $140,000 from this time last week.

Handymax

In the Mediterranean, Handymax’s made a marked recovery seeing the TC6 index hop up 28.61 points to WS321.67.

Up in North West Europe, the TC23 30kt Cross UK-Continent saw an incremental improvement to WS262.5 (+WS4.17).

VLCC

The market further weakened this week. The rate for the 270,000 mt Middle East Gulf to China route lost another six points to WS59.95 which corresponds to a daily round-trip TCE of $36,270 basis the Baltic Exchange’s vessel description.

In the Atlantic market, the 260,000 mt West Africa/China was lowered by 5.5 points to WS63.25 which shows a round voyage TCE of $40,211 per day, while the rate for 270,000 mt US Gulf/China slipped $33,333 to $8,866,667 (providing a round-trip daily TCE of $43,299).

Suezmax

Suezmaxes in West Africa remained around the WS104-105 level for the 130,000 mt Nigeria/UK Continent trip (a daily round-trip TCE of $38,963). In the Mediterranean and Black Sea region the rate for 135,000 mt CPC/Med eased 1.5 points to WS109.70 (showing a daily TCE of $38,761 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) remained around the WS106-107 level basis routing via the Suez Canal.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route collapsed 28.5 points to about WS130 (showing a round-trip daily TCE of around $30,600 basis Hound Point to Wilhelmshaven).

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean had another 36 points taken away, to last be assessed at WS104.72 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $15,417).

Across the Atlantic, the Stateside market has been steadier in comparison. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) eased three points to WS185.31 (a daily TCE of $48,049 round trip) while the rate for 70,000 mt Covenas/US Gulf (TD9) slid six points to WS178.44 (a round-trip TCE of $40,270 per day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) dropped three points to WS192.81 (a round trip TCE basis Houston/Rotterdam of $46,607 per day).