Clean
LR2
LR’s in the MEG were back to being subjected to downward pressure this week, taking them back to around the same level as a fortnight ago. TC1 sunk 26.39 points, taking the index to WS120.28 and, for a run west on TC20, the index settled down $374,447 to $4.22 million.
West of Suez, Mediterranean/East LR2’s on TC15 remained flat at around the $3 million mark, with the market seemingly dormant this week.
LR1
In the MEG, LR1’s also took a relatively steep downturn this week. A TC5 index run 55kt CPP AG/Japan was marked 23.44 points lower than this time last week and the Baltic TCE round trip dipped below $20,000/day. For a voyage west on TC8, the index came off by around 12% to $3.63 million.
On the UK-Continent, the TC16 market stayed relatively level seen in the index, bubbling around the WS110 mark or thereabouts.
MR
MEG MR’s have managed to hold on this week and not be too affected by the larger sizes in the region. The TC17 index, as a result, was assessed a modest 4.99 points lower than this time last week to WS178.58.
UK-Continent MR’s looked to have reached a floor this week and even began signs of recuperating. TC2 bottomed out at WS87.97 mid-week and is now back at WS90.31 and TC19 followed suit plateauing at WS107.43 and is now marked at WS115.94.
USG MR’s resurged leaps and bounds this week. TC14 went from WS117.5 to WS184.64 with the Baltic TCE for the trip shooting from $9,811/day to $22,760/day. TC18 followed this and is currently assessed at WS236.43 (up WS67.14). For a trip down to the Caribbean on TC21, we saw the index add 93% to its value from this time last week to $912,143 where it currently resides.
The MR Atlantic Triangulation Basket TCE gained $11,146 to $27,065.
Handymax
In the Mediterranean, Handymax’s came down a tick to WS94.44 (-8.06). Up on the UK-Continent, the TC23 shed 14.17 points to WS109.44.
VLCC
The VLCC market rose this week despite, or because of, the Golden Week holiday in the Far East. The 270,000 mt Middle East Gulf to China trip climbed four points to WS57.80, which gives a daily round-trip TCE of $36,359 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000mt West Africa/China also saw a gain of four points to WS61.83 (corresponding to a round voyage TCE of $41,077/day), whilst the rate for 270,000 mt US Gulf/China ascended by $312,500 to $8,172,500 (a daily round trip TCE of $40,234).
Suezmax
Suezmax rates clawed back recent rate reductions, and some, this week. In West Africa, the 130,000 mt Nigeria/UK Continent voyage claimed a 28-point recovery to WS103.44, or a 38.5% increase (a daily round-trip TCE of $40,850). The TD27 route (Guyana to UK Continent basis 130,000mt), which has now moved from public trial to live reporting, was assessed even stronger than West Africa at WS107.78, up 33 points (+45%) week-on-week, which translates into a daily round trip TCE of $43,305 basis discharge in Rotterdam. In the Mediterranean and Black Sea region, the rate for 135,000mt CPC/Med had 12 points added to WS96.80 (showing a daily TCE of $31,404 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) gained five points to just break through the WS100 level.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent rose 14 points to almost WS130 (translating to a daily round-trip TCE of almost $32,000 basis Hound Point to Wilhelmshaven). There was a report of WS135 being on subjects, but no further details were available at the time of writing.
In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean recovered recent losses, moving up from the WS110 level to close to WS145 (basis Ceyhan to Lavera that shows a daily round trip TCE of about $37,200).
Across the Atlantic, owners picked themselves up, dusted themselves down and shifted the market into a higher gear on Wednesday, which continued through Thursday. Rates surpassed rises of over 150% for the shorter hauls, with TCE gains further remarkable. The 70,000 mt East Coast Mexico/US Gulf (TD26) route dramatically increased by 135 points to WS221.25 while the 70,000 mt Covenas/US Gulf (TD9) route is being assessed at a comparable WS218.13, up 132.5 points showing a round-trip TCE of $65,460 (+890%) and $57,782 (+683%) per day, respectively. The rate for the transatlantic route of 70,000 mt US Gulf/UK Continent (TD25) rose only 119 points to WS220 (a round trip TCE basis Houston/Rotterdam of $57,850/day, +248%).
Source: Baltic Exchange
