Clean

LR2

The TC1 75kt MEG/Japan index shed 99 points this week to WS1003, with the corresponding Baltic round-trip TCE falling by $33,200 to $288,700/day.

For the TC20 90kt MEG/UK-Continent run, the index edged up by $43,800 to $21.86 million, corresponding to $342,700/day on Baltic round trip. The TC15 80kt Mediterranean/East index dropped by $830,000 to $11.12 million, with the Baltic round-trip TCE declining by $12,600 to $101,800/day.

LR1

The TC5 55kt MEG/Japan index fell by 94 points this week to WS1021, translating to $208,900/day on Baltic round trip. For a trip westward, the TC8 65kt MEG/UK-Continent index dropped by $303,600 to $15.99 million, while the Baltic round-trip TCE return decreased by $5,600 to $245,200/day.

MR

The TC17 35kt MEG/East Africa index edged up by around 4 points this week to WS901, although the TCE slipped by $500 to $112,900/day. On the UK-Continent, the TC2 37kt ARA/US Atlantic Coast index shed 5 points to WS226, with the corresponding Baltic round-trip TCE falling by $1,000 to $16,600/day. In the US Gulf, the TC14 38kt US Gulf/UK-Continent index climbed by 46 points to WS496 and the round-trip TCE gained $9,300 to $73,500/day.

The TC21 38kt US Gulf/Caribbean run rose by $232,100 to $1.78 million, with the corresponding Baltic TCE increasing by $13,500 to $77,900/day. The MR Atlantic Triangulation Basket TCE climbed from $77,900/day to $85,500/day.

Handymax

In the Mediterranean, the TC6 30kt Cross-Mediterranean index eased by 6 points to WS523 this week, with the corresponding Baltic round-trip TCE dropping by $1,700 to $108,900/day. The TC23 30kt Cross UK-Continent index also shed 6 points to WS503, while the run’s TCE fell by $1,900 to $102,000/day.

VLCC

VLCC rates on the Baltic Exchange routes appear to have found a floor at the back end of last week, with rates rebounding this week. The TD3C route (270,000mt Middle East Gulf/China) has risen 48 points since last Friday to WS1262.5, producing a daily round-trip TCE of $1,345,710 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) rose more sharply, gaining 89 points to WS659.29, giving a round-trip TCE of $699,257/day.

In the Atlantic market, the rate for the 260,000mt West Africa/China route (TD15) climbed 82 points to WS633.75, producing a round-trip TCE of $632,191/day. Meanwhile, the US Gulf/China route (TD22) gained over $4.2 million to almost $61.5 million, resulting in a daily round-trip TCE of $477,013.

Suezmax

In the Suezmax sector, the weaker trend continued across the Baltic Exchange routes. The rate for the 130,000mt Nigeria/UK Continent voyage (TD20) fell almost 14 points to WS713.89, giving a daily round-trip TCE of over $396,100. The TD27 route (Guyana/UK Continent, basis 130,000mt) dropped by 25 points to WS712.5, producing a daily round-trip TCE of just over $401,000. The 145,000mt USG/UKC route (TD33) fell by almost 37 points to WS621.94, giving a round-trip TCE of over $411,600/day.

In the Black Sea, the 135,000mt CPC/Augusta route (TD6) tumbled 116 points to WS958.33, producing a daily round-trip TCE of about $769,800. There are currently CPC cargoes being worked, but suitable tonnage is plentiful. With vessel availability outweighing current demand, further downward pressure on rates is likely over the coming days.

Aframax

In the North Sea, the rate for the 80,000mt Cross-UK Continent route (TD7) fell back about 20 points this week to around WS570, giving a daily round-trip TCE of just over $466,000 basis Hound Point/Wilhelmshaven.

In the Mediterranean, the rate for the 80,000mt Cross-Mediterranean route (TD19) tumbled 137 points to around WS703. Basis Ceyhan/Lavera, this produces a daily round-trip TCE of a little over $323,300.

Across the Atlantic, rates were comparatively steady on the shorter-haul routes but weakened further on the transatlantic run. The 70,000mt East Coast Mexico/US Gulf route (TD26) rose 2 points to WS720, giving a daily round-trip TCE of almost $251,400. The 70,000mt Covenas/US Gulf route (TD9) also gained 2 points to WS710, producing a daily round-trip TCE of just over $226,400.

The 70,000mt US Gulf/UK Continent route (TD25) fell 25 points to almost WS707, giving a round-trip TCE, basis Houston/Rotterdam, of just under $216,800/day.

On the Vancouver export routes, rates weakened again. The TD28 route (80,000mt crude oil Vancouver to China) fell by $2 million to $12.26 million, producing a round-trip TCE of under $253,400/day. The TD29 route (80,000mt crude oil Vancouver to Pacific Area Lightering point off the USWC) fell a further 11 points to WS904.