Clean

LR2

LR2 freight levels resurged with gusto this week. The rate for 75kt MEG/Japan drove up 121 points to WS277.78. The 90kt MEG/UK-Continent TC20 trip similarly climbed aggressively to the tune of $1.98 million and is currently pegged at $6.61 million.

West of Suez, Mediterranean/East LR2 freight dropped again this week losing ultimately $266,000 to $4.22 million it looks to have bottomed out mid-week at $4.1 million.

LR1

In the MEG, LR’1 freight also turned sharply upwards this week. The 55kt MEG/Japan index of TC5 added 60% to its value to currently rest at WS283.15. The 65kt MEG/UK-Continent of TC8 also went from $3.98 million to $5.40 million

On the UK-Continent, the 60kt ARA/West Africa was assisted upwards by the movement in the MEG, the TC16 index improved 19.37 points to WS196.25.

MR

MR’s in the MEG were a little slow to react to firming in the region on other sizes but are now catching up. TC17 35kt MEG/East Africa hopped up 21.78 points to WS352.14 taking the Baltic round trip TCE for the run back up over the $40,000 per day. Up in the UK-Continent MR’s firmly improved from steady enquiry.

The 37kt ARA/US-Atlantic coast of TC2 index shot up from WS192.22 to WS230.56. On a TC19 run (37kt ARA/West Africa) the index also went from WS216.25 to WS253.75. What goes up must come down was the story for the USG MR's this week. TC14 (38kt US-Gulf/UK-Continent) came off 52.86 points to WS180.71. The 38kt US Gulf/Brazil on TC18 also shed 42.14 points WS282.86. The 38kt US-Gulf/Caribbean TC21 dropped by $300,000 to $885,714.

Handymax

In the Mediterranean, Handymax’s remained resolute and the TC6 index stayed again at WS320 all week.

Up in North West Europe, the TC23 30kt Cross UK-Continent managed to reach WS250 (+7.78).

VLCC

The market saw refreshed confidence this week assisted by April liftings. The rate for the 270,000 mt Middle East Gulf to China climbed to WS71.95 up from WS69.14 and corresponds to a daily round-trip TCE of $49,737 basis the Baltic Exchange’s vessel description.

In the Atlantic market, the 260,000 mt West Africa/China route demonstrated a similar movement upward, climbing 3.2 points to WS74.25 which gives a round voyage TCE of $52,725 per day. The rate for 270,000 mt US Gulf/China dipped to around $8.88 million early in the week with some fixtures reported at this level it has since then returned up to $9.03 million providing a round-trip daily TCE of $44,697.

Suezmax

Suezmaxes in West Africa dropped incrementally from WS106.23 to WS102.41 for the 130,000 mt Nigeria/UK Continent trip (a daily round-trip TCE of $37,700). In the Mediterranean and Black Sea region the rate for 135,000 mt CPC/Med held flat around the WS106-107 level (showing a daily TCE of $36,700 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) shaved off a meagre 2.17 points to WS96.22 basis routing via the Suez Canal.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent hopped up 7.5 points to WS133 (showing a round-trip daily TCE of around $33,828 basis Hound Point to Wilhelmshaven).

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean continued its upward track to the tune of 22 points this week to WS174.56 (basis Ceyhan to Lavera, that shows a daily round trip TCE of just over $50,500).

Over the Atlantic, the US Gulf market took a downturn this week. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) dropped 5.32 points WS175.31 (a daily TCE of $40,920 round trip) while the rate for 70,000 mt Covenas/US Gulf (TD9) came off 4.68 points to WS170.63 (a round-trip TCE of $36,742 per day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) had 20 points chopped off it to the WS180.63 level (a round trip TCE basis Houston/Rotterdam of approximately $41,692 per day).