The MEG’s LR2s have suffered from diminishing activity this week, and combined with a short week in Singapore, freight volumes have dropped. The current value of TC1 is WS122.22 (-28.06) with WS120 commonly reported on topics. The TC20 index has also dropped $393,000 to $3,575,000 for the run to the UK-Continent.
Handymax
In the Mediterranean, Handymax lacked inquiry this week, and the TC6 lost 7.78 points to WS136.94
Up on the UK-Continent, Handymax’s continued firming albeit modestly, and TC23 hopped up from WS178.33 to WS185.56
Aframax
In the North Sea, the rate for the 80,000 mt Hound Point/Wilhelmshaven route has gained a meager one point to WS97.14 (showing a round-trip daily TCE of $1,800, still $300/day less than last Friday). In the Mediterranean market, the rates struck bottom and owners collectively pushed, and got, increased fixing levels. The rate for 80,000 mt Ceyhan/Lavera gained 9.5 points to WS98 (a daily round trip TCE of $10,700).
VLCC
The market in the Middle East slipped a little again this week. Owners are seemingly keener on the shorter voyages while rates remain under pressure as tonnage builds up. The rate for 270,000 mt Middle East Gulf to China eased one point to WS47.29 corresponding to a daily round-trip TCE of $19,431 based on the Baltic Exchange’s vessel description, $2,300 per day lower than last Friday. The 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) remained around WS30.
For the Atlantic market, the 260,000 mt West Africa/China rate was steady at the WS53 mark (which shows a round voyage TCE of $28,200/day). The rate for 270,000 mt US Gulf/China was reduced by only $27,778 to $8,250,000 (about $30,400/day round trip TCE).
