Clean

LR2

The TC1 75kt MEG/Japan index eased by eight points this week to WS1005, while the corresponding Baltic round-trip TCE edged up by $100 to $292,000/day.

For the TC20 90kt MEG/UK-Continent run, the index dropped by $2.21 million to $19.29 million, corresponding to $297,300/day on Baltic round trip. The TC15 80kt Mediterranean/East index shed $1.70 million to finish at $9.25 million, with the Baltic round-trip TCE falling by $20,400 to $79,200/day.

LR1

The TC5 55kt MEG/Japan index slipped by nine points this week to WS1025, translating to $212,300/day on Baltic round trip. For a trip westward on the TC8 65kt MEG/UK-Continent route, the index dropped by $1.58 million to $14.75 million, while the Baltic round-trip TCE return declined by $27,600 to $223,700/day.

MR

The TC17 35kt MEG/East Africa index edged down by five points this week to WS896, although the TCE increased by $1,000 to $113,900/day. On the UK-Continent, the TC2 37kt ARA/US Atlantic Coast index shed 22 points to WS206, with the corresponding Baltic round-trip TCE falling by $3,300 to $13,600/day.

In the US Gulf, the TC14 38kt US Gulf/UK-Continent index dropped by 47 points to WS429 and the round-trip TCE declined by $8,500 to $60,800/day. The TC21 38kt US Gulf/Caribbean run fell by $157,100 to $1.47 million, with the corresponding Baltic TCE decreasing by $8,500 to $60,600/day. The MR Atlantic Triangulation Basket TCE dropped from $82,100/day to $72,000/day.

Handymax

In the Mediterranean, the TC6 30kt Cross-Mediterranean index lost 73 points to WS448 this week, with the corresponding Baltic round-trip TCE dropping by $20,200 to $88,100/day. The TC23 30kt Cross UK-Continent index shed 79 points to WS420, while its TCE fell by $22,400 to $78,500/day.

VLCC

VLCC rates on the Baltic Exchange routes headed down this week. The TD3C route (270,000 mt Middle East Gulf/China) has fallen almost 47 points since last Friday to WS1220.63, producing a daily round-trip TCE of $1,303,616 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) fell more sharply, losing almost 86 points to WS586.43, giving a round-trip TCE of $619,969/day.

In the Atlantic market, the rate for the 260,000 mt West Africa/China route (TD15) lost 77.5 points to WS564.38, producing a round-trip TCE of $561,731/day. Meanwhile, the US Gulf/China route (TD22) fell by over $5.7 million to below the $58 million mark, resulting in a daily round-trip TCE of just below $451,000.

Suezmax

The Suezmax market has started to rebalance, with rates falling sharply across all the Baltic Exchange routes. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) fell by over 270 points (38%) to WS430, giving a daily round-trip TCE of about $224,500. The TD27 route (Guyana/UK Continent, basis 130,000 mt) dropped more sharply, losing 318 points (45%) to WS382.22, producing a daily round-trip TCE of just over $198,400. The 145,000 mt US Gulf/UK Continent route (TD33) fell further, losing 321 points (52%) to WS292.78, giving a round-trip TCE of a little over $172,200/day.

In the Black Sea, the 135,000 mt CPC/Augusta route (TD6) tumbled almost 274 points (29%) to WS664.44, producing a daily round-trip TCE of just under $513,400.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) tumbled 212.5 points to WS350, giving a daily round-trip TCE of just below $242,600 basis Hound Point/Wilhelmshaven.

In the Mediterranean, the rate for the 80,000 mt Cross-Mediterranean route (TD19) collapsed almost 373 points to WS300. Basis Ceyhan/Lavera, this produces a daily round-trip TCE of about $100,300.

Across the Atlantic, rates fell heavily. The 70,000 mt East Coast Mexico/US Gulf route (TD26) fell 288 points to WS408, giving a daily round-trip TCE of close to $122,000. The 70,000 mt Covenas/US Gulf route (TD9) also dropped almost 290 points to WS397, producing a daily round-trip TCE of just over $111,100.

The 70,000 mt US Gulf/UK Continent route (TD25) plunged over 295 points to the WS399 mark, giving a round-trip TCE, basis Houston/Rotterdam, of about $107,500/day.

On the Vancouver export routes, rates weakened again. The TD28 route (80,000 mt crude oil Vancouver to China) fell by $1.88 million to $10.15 million, producing a round-trip TCE of under $206,200/day. The TD29 route (80,000 mt crude oil Vancouver to Pacific Area Lightering point off the USWC) fell 104 points to WS783.