Clean
LR2
MEG LR2s made gains this week, with the rate for TC1 (75Kt MEG/Japan) recovering 4 points to WS126.11 (about $24,500 per day round-trip TCE) while the rate for 90kt MEG/UK-Continent (TC20) climbed over $264,500 to $4,280,000.
In the West of Suez region, the Mediterranean/East LR2s (TC15) was a little more subtle, only climbing $13,000 to $2,866,667.
LR1
In the MEG, LR1s going East had similar energy with the 55kt MEG/Japan index of TC5 rising 9 points to WS149.06 (A TCE of a little over $20,000 per day round trip) while the 65kt MEG/UK-Continent of TC8 climbed almost $157,000 to $3,685,500 (or 56.70 $/mt).
On the UK-Continent, a 60Kt ARA/West Africa run on TC16 fell another 2 points to WS116.94.
MR
A mixed bag of rates in the MR sector this week. The TC17 35kt MEG/East Africa recovered 20 points to WS215 (showing a daily TCE of $20,393 round trip).
On the UK-Continent MRs the 37kt ARA/US-Atlantic coast of TC2 regained some of the recent lost ground, closing 15 points higher on Thursday than a week ago at WS135.31 (which gives a Baltic round trip TCE of $12,907 per day), and the TC19 run (37kt ARA/West Africa) gained 16 points to WS155.63.
Across the Atlantic, the TC14 (38kt US-Gulf/UK-Continent) route was further weakened, losing 13 points to WS134.64 (a TCE of $13,564 per day basis a round). The 38kt US Gulf/Brazil on TC18 closed 12.5 points lower on Thursday than a week ago at WS185 (showing a daily round trip TCE of $22,328) and the 38kt US-Gulf/Caribbean of TC21 closed a little over $37,800 lower at $587,143 (a daily TCE round trip of $16,201).
Handymax
In the Mediterranean, 30kt Cross Mediterranean (TC6) stopped falling and started climbing, rising 6 points week-on-week to WS120 (a TCE showing a little over $5,000 per day round trip). In Northwest Europe, the TC23 30kt Cross UK-Continent gained 14 points to WS169.72 ($17,834 per day round trip TCE).
VLCC
The VLCC market continued to firm this week, with gains made in all sectors – however, certainly in the Atlantic, the market seems to have peaked (vessel availability being key here). The 270,000 mt Middle East Gulf to China trip climbed 4.5 points week-on-week to WS54.15 which gives a daily round-trip TCE of $32,754 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China rose 4 points to WS57.89 (corresponding to a round voyage TCE of $37,077 per day), whilst the rate for 270,000 mt US Gulf/China climbed $330,000 to $7,525,000 ($35,490 per day round trip TCE). This is the arena that could well force rates down elsewhere, as it is reported that there are more than a dozen ships available in workable positions within the fixing window.
Suezmax
Suezmax owners in all regions have stemmed the tide of the falling market. In West Africa, the 130,000 mt Nigeria/UK Continent voyage eased 1 point to WS78.47 (a daily round-trip TCE of $27,181 which is actually over $500 per day more than a week ago). The TD27 route (Guyana to UK Continent basis 130,000mt) was assessed on Thursday at WS77.56 down 2 points for the week which translates into a daily round trip TCE of $26,300 basis discharge in Rotterdam, $300 per day better week-on-week.
In the Mediterranean and Black Sea region, the rate for 135,000 mt CPC/Med held at around the WS79-80 level (showing a daily TCE of about $19,000 round-trip, an increase of a little over $1,000 per day). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) was static at the WS94 mark.
Aframax
In the North Sea, the rate for the 80,000mt Cross-UK Continent was 1.5 points softer, settling at WS115 (translating to a daily round-trip TCE of $22,072 basis Hound Point to Wilhelmshaven).
In the Mediterranean market, the rate for 80,000mt Cross-Mediterranean had recovered by 20 points on Thursday to WS120 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $25,982).
Across the Atlantic, the market has softened a little further with the 70,000mt East Coast Mexico/US Gulf (TD26) route and the 70,000mt Covenas/US Gulf (TD9) route each losing 2.5 points to around the WS97.5 level (a round-trip TCE of a little over $12,000 per day for either voyage). The rate for the trans-Atlantic route of 70,000mt US Gulf/UK Continent (TD25) shed 5 points to WS117.78 (a round trip TCE basis Houston/Rotterdam of $22,963 per day).
Source: Baltic Exchange
