Clean
LR2
Following last week’s improvements, LR’s in the MEG stalled and lost steam this week. TC1 75kt MEG/Japan eased down 8.56 points to WS111.72 and a trip westerly on TC20 90kt MEG/UK-Continent the index held stable around the $3.4m mark.
West of Suez, Mediterranean/East LR2’s on TC15 plateaued after ticking over the $3m level at $3.09m.
LR1
I In the MEG, LR1’s remained flat this week. TC5 55kt MEG/Japan held stable in the WS110-112.5 region. Conversely, a run to the UK-Continent on TC8 65kt MEG/UK-Continent dipped from $2.7m to $2.54m.
On the UK-Continent, the TC16 60kt ARA/West Africa index held resolute around WS120 this week.
MR
MR’s in the MEG climbed optimistically this week. The TC17 35kt MEG/East Africa index, as a result, climbed up to WS198.57 from WS180 after a widely reported fixture mid-week at around WS195.
UK-Continent MR’s dipped early in the week only to rebound swiftly. The TC2 index 37kt ARA/US-Atlantic coast dropped from WS128.75 to then return just as dramatically to WS126.88. TC19 37kt ARA/West Africa followed the same pattern and is currently pegged at WS170 up from WS159.38 5 days ago via a stop at WS148.75.
MR’s in the USG resurged with gusto this week. TC14 38kt US-Gulf/UK-Continent was assessed 20.35 points higher by the end of the week at WS158.21. TC18 38kt US Gulf/Brazil index climbed 22.15 points to WS224.29. A local voyage on TC21 38kt US-Gulf/Caribbean also jumped up 65% to $802,857.
The MR Atlantic Triangulation Basket TCE gained $4,357 to $27,045.
Handymax
In the Mediterranean, Handymax’s yoyoed with TC6 crashing from WS216.11 to WS150 over a 3 day period to then recorrect back up to WS172.22 at time of writing.
Up on the UK-Continent, the TC23 30kt Cross UK-Continent index came back under pressure and dropped from WS178.89 to WS149.72 this week.
VLCC
The VLCC market continued the downward trajectory this week. The 270,000 mt Middle East Gulf to China trip (TD3C) dipped a further 2 points to WS43.35 which gives a daily round-trip TCE of $21,967 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) lost 3 more points to WS49.39 (corresponding to a round voyage TCE of $29,104 per day), while the rate for 270,000 mt US Gulf/China (TD22) dropped by $146,667 to $7,170,000 (a daily round trip TCE of $33,638).
Suezmax
Owners continued applying pressure on charterers this week. In West Africa, the 130,000 mt Nigeria/UK Continent voyage (TD20) rose 6 points to WS92.06, meaning a daily round-trip TCE of $34,748. The TD27 route (Guyana to UK Continent basis 130,000 mt) climbed 13 points since Wednesday 27th November to WS90.56 which translates into a daily round trip TCE of $33,627 basis discharge in Rotterdam, helped in the main by a rising Aframax market in the US Gulf region. For the TD6 route of 135,000 mt CPC/Med, the rate remained flat at the WS100 level (showing a daily TCE of $35,554 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) hovered around the WS92 mark.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) remained around the WS125 level (giving a daily round-trip TCE of $30,213 basis Hound Point to Wilhelmshaven).
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean (TD19) eased by 2.5 points to WS143.11 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $37,910).
Across the Atlantic, after the Thanksgiving weekend, rates turned and rocketed upwards. Since Wednesday 27th November, rates for the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) have risen 80 points to WS175-176 region, showing a daily round-trip TCE of $41,325 and $45,711, respectively. The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has climbed 72 points to WS191.89 (a round trip TCE basis Houston/Rotterdam of $48,443 per day)
Source: Baltic Exchange
