Clean
LR2
Following on from the notable improvements MEG LR2’s stagnated this week. The TC1 75Kt MEG/Japan index subsequently floated around the WS125 level and TC20 90kt MEG/UK-Continent assessments paused around $3.4 million.
West of Suez, Mediterranean/East LR2’s of TC15 continued to hold at the $2.9 million mark.
LR1
LR1’s performed very similarly to their larger counterparts. The TC5 55kt MEG/Japan index did manage to creep up 7.5 points to WS137.19. A voyage west on TC8 65kt MEG/UK-Continent finished the end of the week at $2.75 million up from $2.62 million.
On the UK-Continent, the TC16 60Kt ARA/West Africa index dropped for the second week on week, from high to mid WS120’s.
MR
MR’s in the MEG hopped upward this week off the back of decent activity levels. TC17 35kt MEG/East Africa index is currently WS207.79 (+16.36).
UK-Continent MR’s bounced up and down this week. The TC2 index 37kt ARA/US-Atlantic coast climbed from WS145 to WS170 over the course of 48 hours early in the week. The index has since returned to its current level of WS152.5, equating to $15,893/day Baltic description round trip. The TC19 run of 37kt ARA/West Africa followed the same pattern, peaking at WS194.338 mid-week to return back to WS175.63.
In the US Gulf, a small increase in activity stimulated a modest freight rate boost. TC14 38kt US-Gulf/UK-Continent went from WS92.14 to WS110.71. On the TC18, the 38kt US Gulf/Brazil index climbed 16.07 points to WS160.36, while a Caribbean run on TC21 38kt US-Gulf/Caribbean went up 24% to $509,286.
Handymax
Baltic Clean Handymax routes improved significantly this week. In the Mediterranean, the TC6 index added 38.89 points to WS221.11 and up on the UK-Continent the TC23 30kt Cross UK-Continent went from WS169.44 to WS198.33.
VLCC
The market peaked on Wednesday and is now coming off, more dramatically in the Middle East and US Gulf regions. The 270,000 mt Middle East Gulf to China trip (TD3C) having risen almost 10 points to the WS70 level mid-week, the rate is now being assessed at WS64.94. The corresponding round-trip TCE is $44,160/day basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) rose six points to WS68 midweek and has now fallen back to WS66.19 giving a round voyage TCE of $46,032/day. The rate for 270,00 0mt US Gulf/China (TD22) had risen almost $200,000 by Wednesday at nearly $8,500,000 but has since slumped to $8,417,500, which shows a daily round trip TCE of $42,735, just slightly firmer than last Friday.
Suezmax
Suezmax owners have continued to feel the pressure this week. The rate for 130,000 mt Nigeria/UK Continent voyage (TD20) has lost another 2.5 points this week, to WS91.94 meaning a daily round-trip TCE of $36,940 while the TD27 route (Guyana to UK Continent basis 130,000 mt) has remained flat at the WS90 mark, translating into a daily round trip TCE of $35,410 basis discharge in Rotterdam. For the TD6 route of 135,000mt CPC/Med, charterers have covered about 80% of the 39 Ssuezmax cargoes scheduled and the rate has hovered around the WS112.5/115 level this week (depending on the requirement for eastern discharge). This shows a daily TCE of a $48,930 round-trip. In the Middle East, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) has settled at WS90.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) rose 2.5 points to just above the WS110 level giving a daily round-trip TCE of a little over $28,600 basis Hound Point to Wilhelmshaven.
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) has been pulled back down, losing 15 points this week to WS130.78 (basis Ceyhan to Lavera, showing a daily round trip TCE of $33,002).
Across the Atlantic, the market has firmed. The 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000mt Covenas/US Gulf route (TD9) have climbed 15 points to the WS133 level, which shows a daily round-trip TCE of about $23,600 and $23,800, respectively.
The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has been pushed by six points to WS146.39 giving a round trip TCE basis Houston/Rotterdam of $33,376/day.
Source: Baltic Exchange
