Clean

LR2

LR freight levels in the MEG continued downward this week. The 75kt MEG/Japan TC1 index shed 54.44 points to WS190.56.

The 90kt MEG/UK-Continent TC20 trip to the UK-Continent steadily came down from $6.12 million to $5.06 million.

West of Suez, Mediterranean/East LR2’s remained level all week with little open market activity. The TC15 index remained between $5.85 million and $5.9 million.

LR1

In the MEG, LR1 freight remined under pressure this week. The 55kt MEG/Japan index of TC5 has was again pushed down to the tune of 35 points to WS208.13. The 65kt MEG/UK-Continent of TC8 lost a little over $700,000 of its value across the week settling down at $4.44 million.

On the UK-Continent, the 60kt ARA/West Africa TC16 run for the second week has been relatively dormant, the index shed 10.86 points to WS216.25. This is still $43,000/day Baltic round trip TCE.

MR

MR’s in the MEG made a resurgence after a flurry of activity mid-week, the TC17 index climbed from WS287.14 to WS302.86.  

UK-Continent MR’s plateaued and then ticked back downward this week. The 37kt ARA/US-Atlantic coast of TC2 index went from WS246 to WS221 although is currently marked at WS229 so it would appear a floor has been reached for the moment. On a TC19 run (37kt ARA/West Africa) the index followed suit of TC2 bottoming out at WS237 from WS260 to then return to WS249.

The USG MR’s have been arguably a little lethargic this week. TC14 (38kt US-Gulf/UK-Continent) went from WS186.79 to WS173.93. The 38kt US Gulf/Brazil on TC18 also dipped 8.57 points to WS254.29. The 38kt US-Gulf/Caribbean TC21 dropped 5% to $857,143.

Handymax

In the Mediterranean, Handymax’s looked to have levelled off for the moment and the TC6 index hovered around WS277.5-WS280 all week.  

Up in North West Europe, the TC23 30kt Cross UK-Continent similarly remained flat around the WS250 mark.

VLCC

The market tumbled this week with Middle East Gulf players leading the retreat. The rate for the 270,000 mt Middle East Gulf to China route lost over 25 points to be last assessed at WS67.86 which corresponds to a daily round-trip TCE of $44,612 basis the Baltic Exchange’s vessel description.

In the Atlantic market, the 260,000 mt West Africa/China was reduced by 18 points to WS70.10 which shows a round voyage TCE of $47,598 per day, while the rate for 270,000 mt US Gulf/China was slimmed by $711,111 to $9,388,889 (providing a round-trip daily TCE of $47,524).

Suezmax

Suezmaxes in West Africa eased further this week with the rate for 130,000 mt Nigeria/UK Continent slipping four points to WS109.09 (a daily round-trip TCE of $41,747). In the Mediterranean and Black Sea region the rate for 135,000 mt CPC/Med slid sharply down by 13 points to WS115.20 (showing a daily TCE of $42,666 round-trip).

In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) hovered around the WS107-108 level despite the ongoing troubles in the Red Sea. For the Cape of Good Hope routing the rate has slipped from around WS80 to the mid-WS70s.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route remained around the WS160 level (showing a round-trip daily TCE of about $54,600 basis Hound Point to Wilhelmshaven).

In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean collapsed 41 points to WS157.5 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $41,779).

Across the Atlantic, the Stateside market has weakened slightly. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) slipped four points to WS194.38 (a daily TCE of $51,545 round trip) and the rate for 70,000 mt Covenas/US Gulf (TD9) also eased four points to WS187.5 (a round-trip TCE of $43,464 per day).

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) fell 10 points to WS203.75 (a round trip TCE basis Houston/Rotterdam of $50,198 per day).