Clean

LR2

MEG LR2’s saw a welcome rebound this week. A widely reported fixture for a TC20 voyage at $4,100,000 has led the index to just under that level at the moment. TC1 has also climbed 20.62 points to WS138.75. These improvements have taken the Baltic round trip TCE for both these runs back over the $30,000/day level.

West of Suez, Mediterranean/East LR2’s have also begun to improve, seeing the TC15 index add $133,000 to $2,800,000.

LR1

In the MEG, LR1’s have remained stable this week despite the improvements on the LR2’s. TC5 has hovered around the WS159-160 mark all week and a trip west to TC8 improved and incremental $58,500 to $3,250,000.

On the UK-Continent, TC16 peaked mid-week at WS143.93 (up from WS114.29) to then resettle at WS137.5.

MR

MEG MR’s improved consistently across the week, with the TC17 index hopping up 29.29 points to WS294.29.

UK-Continent MR’s also saw good activity levels throughout this week and an uptick in enquiry. TC2 is currently pegged at WS186.39 (+61.39) and TC19 similarly climbed 61.79 points to arrive at WS196.79.

USG MR’s have been the star of the show this week. A big surge in enquiry has driven freight levels firmly upwards. TC14 jumped 66.25 points to WS150 similarly the TC18 index added 55.42 points to WS210.52. A run to the Caribbean on TC21 though rocketed 347,500 to $862,500, a 67% increase making the TCE also jump 177% to $31,962 / day round trip.

The MR Atlantic Triangulation Basket TCE rose from $14,006 to $34,841.

Handymax

Mediterranean Handymax’s remained in balance this week. Subsequently TC6 held relatively stable in the WS135-140 region.

Up on the UK-Continent the TC23 began to improve, adding 13.12 points to the index taking it up to WS128.75. This took the Baltic TCE for the run back up into four digits/day roundtrip.

VLCC

The Middle East market has been lacklustre this week, with rates slipping, caused mostly by a tonnage build-up, including oil company relets, and the slow rate of enquiry entering the market. Owners have been standing strong though to keep rates buoyant, although they are under significant pressure to lower their sights. The rate for 270,000 mt Middle East Gulf to China was reduced by four points to WS50.14 (a round trip TCE of $27,800 per day basis the Baltic Exchange’s vessel description). For the 280,000mt Middle East Gulf to US Gulf trip (via the cape/cape routing) the rate is now assessed three points lower than last Friday at WS32.5.

In the Atlantic market, the rate for 260,000mt West Africa/China eased back by about 3.5 points to WS51.65 (which shows a daily round voyage TCE of $30,600). Again, the US Gulf arena has not been busy, which has caused rates to drop on all destinations. The rate for 270,000mt US Gulf/China is now assessed at $333,334 lower than a week ago to $8,144,444 ($33,700 per day round trip TCE).

Suezmax

The Black Sea and Mediterranean markets stumbled backwards this week with the rate for 135,000mt CPC/Med losing 2.25 points to WS129.83 (a round trip TCE of $58,700 per day).

In the Atlantic region, the West African market was quiet and of the eight reported fixtures to Europe this week, half of it failed. Rates fell more than 11 points for the 130,000mt Nigeria/Rotterdam voyage to WS114.75 (a round trip TCE of $49,100 per day). In the Middle East, the rate for 140,000mt Basrah/Lavera was shifted down almost two points to hover around the WS70 mark.

Aframax

In the North Sea, the rate for the 80,000mt Hound Point/Wilhelmshaven made a modest three point gain to WS156 (showing a round-trip daily TCE of $58,800).

In the Mediterranean, the rate for 80,000mt Ceyhan/Lavera rose by 14.5 points to Thursday’s assessment at WS204 (a daily round trip TCE of $73,000).

Across the Atlantic, the Stateside Aframax market continues the rollercoaster ride of recent months. With very little reported activity and a healthier looking position list aided by several ships ballasting from Europe, rates have fallen sharply. The rate for 70,000mt East Coast Mexico/US Gulf crashed 91 points to WS290, which still shows a healthy TCE of about $103,000 per day round trip. For the 70,000mt Covenas/US Gulf trip the rate tumbled 86 points to WS274.38 representing a round trip TCE of $87,600 per day, and for the trans-Atlantic route of 70,000mt US Gulf/Rotterdam charterers were able to pillage 50 points and the market rate now sits at around the WS200 level (a round trip TCE of $54,600 per day).
Source: The Baltic Exchange