Clean

LR2

LR’s in the MEG have rocketed this week. The 75kt MEG/Japan TC1 index rose almost 115 points to WS353.89 ($101,134 per day TCE round-trip). The 90kt MEG/UK-Continent TC20 run saw rates significantly improve while Red Sea transits have been met with resistance by most owners and now is being freighted close to $8.45 million, up almost $2.8 million on last week’s assessment.

In the West of Suez market however, the Mediterranean/East trip on LR2’s (TC15) has seen rates rise in a more measured fashion, climbing $600k to the $4.8-4.9 million level.

LR1

In the MEG, LR1 freight levels followed big jump seen on the bigger units. The rate for 55kt MEG/Japan (TC5) climbed 113 points to WS379.38 (a daily TCE of $76,696 per day round-trip). For the 65kt MEG/UK-Continent (TC8) market, the rate has risen about $2 million to just over $6.9 million, with the Red Sea transit undesirable. On the UK-Continent, the 60kt ARA/West Africa (TC16) market rose 24 points to a shade over WS205 (which translates to a round trip daily TCE of $40,254).

MR

MRs in the MEG made big gains this week with the 35kt MEG/East Africa (TC17) trip rising 100 points to WS420.71 (a TCE of $52,817 per day round trip).

UK-Continent MRs made further improvements this week with the 37kt ARA/US-Atlantic coast of TC2 gaining 20 points to WS243.06 (a round trip TCE of $31,976 per day). Similarly, TC19 (37kt ARA/West Africa) rose 15 points to be marked at the WS265 level (a TCE of just over $35,800 per day round-trip)

The USG MR market steadied and made little improvement on last Friday’s assessments. TC14 (38kt US-Gulf/UK-Continent) has regained two points to WS164.29 (a daily round-trip TCE of just over $17,300). The 38kt US Gulf/Brazil trip (TC18) also similarly saw a rise of three points to be assessed at between WS215-217.5 ($26,721 per day for the round-trip TCE) and for the 38kt US-Gulf/Caribbean TC21 trip the rate reversed the drop as reported a week ago, recovering $45,000 to just over $705,000 (a daily round-trip TCE of $22,673).

Handymax

In the Mediterranean, Handymaxes had a dramatic boost in rates with TC6 improving by almost 115 points WS323.67 which corresponds to a daily TCE of $59,837 basis a round trip voyage from Skikda to Lavera.

In North West Europe, the TC23 30kt Cross UK-Continent route saw further strong gains made, climbing 78 points to WS332.83 (a daily round-trip TCE of $59,016 basis a voyage from Amsterdam to Le Havre).

VLCC

The market weakened again this week with the 270,000 mt Middle East Gulf to China route dropping a further seven points to WS58.17 which translates into a daily round-trip TCE of $34,397 (about $10,000 less, week-on-week) basis the Baltic Exchange’s recently updated vessel description.

In the Atlantic market, a similar weakness was seen with the rate for 260,000 mt West Africa/China also losing seven points WS58.70 (which shows a round voyage TCE of $35,996 per day) while the rate for 270,000 mt US Gulf/China had $427,777 sliced off, to be assessed at $8,955,556 (which provides a round-trip daily TCE of $44,543).

Suezmax

Suezmaxes in West Africa have been trending down this week with rates for 130,000 mt Nigeria/UK Continent being gouged 28 points to WS109.86 (a daily round-trip TCE of $42,978, down from $60,619 last Friday). In the Mediterranean and Black Sea region the rate for 135,000 mt CPC/Med has come off 13 points to WS130.80 (showing a daily TCE of $56,581 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean slipped back five points to WS115.11 with the Red Sea increased risk still playing a major role in perceived freight levels and actual activity which has been thin on the ground according to reports while some charterers have been able to co-freight on VLCCs.

Aframax

In the North Sea, the rate for the 80,000 mt Cross-UK Continent route has remained the same as a week ago, at WS181.43 (showing a round-trip daily TCE of $72,186 basis Hound Point to Wilhelmshaven).
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean has weakened by 21 points to WS183.33 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $56,828).

Across the Atlantic, the Stateside market has been unable to support recent levels. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) had 31 points cut away and is currently at WS267.5 (a still healthy daily round-trip TCE of $84,832). For the 70,000 mt Covenas/US Gulf trip the rate is assessed 28 points softer at WS259.38 (a round-trip TCE of $72,576 per day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent has dropped 24 points to WS203.13 (a round trip TCE basis Houston/Rotterdam of $50,539 per day).
Source: Baltic Exchange