The Baltic Exchange: Tanker report - Week 40


The Baltic Exchange: Tanker report - Week 40



The TC1 index ultimately rose just under seven Worldscale points this week but the LR2’s have been in limbo in the MEG for the last few days. Rates have consistently been fixing around the WS135-WS140 mark. Similarly on a trip to the UK-Continent TC20 has bubbled around the $3.8m level.

West of Suez, Mediterranean/East LR2’s on TC15 saw some activity this week, which stimulated the index to climb $208,000 to just over $3.2m.  


In the MEG, LR1’s held resolute this week with the market being kept busy from a mixture of different enquiry formats. TC5 remained stable in the mid WS150’s and a TC8 run to the UK-Continent shed $42,000 but it has not dipped below the $3.4m mark. 

On the UK-Continent, following last week’s drop to WS155 where it has been all this week, the TC16 run looks to have bottomed out at this level for the moment.


MEG MR’s have been consistently in strong demand this week. As a result we have seen the TC17 index shoot up 65.72 points to WS274.29.

UK-Continent MR’s have seen just enough enquiry to keep rates in the high WS180’s – low WS190’s for a TC2 run. Tonnage had been reported to be looking a little healthier and been able to accommodate demand without any trouble. TC19 has as usual follows suit of TC2 and hovered around the WS197.5-200 mark.

In the US Gulf MR’s showed positive signs of recovery this week following last week dramatic dip. TC14 ticked up and optimistic 24.59 points to WS140.42 and TC18 also followed in the form of a large jump mid-week from WS205 to WS240 with the index currently pegged at WS242.92. A trip to the Caribbean on TC21 after bottoming out at $795,000 has been able to recuperate to $990,000 at time of writing.

The MR Atlantic Triangulation Basket TCE gained $5,987 to $30,089.   


In the Mediterranean, Handymax’s took another recorrect down this week and the TC6 index lost 28.34 points to WS172.22. Up on the UK-Continent, the TC23 index topped out at the end of last week at WS240 to then shed just under 30 Worldscale points to WS211.67 at time of writing.

The Baltic Exchange: Tanker report - Week 40


The market was supressed this week, with Asian holidays being the main reason. Sentiment was affected and the list of available tonnage increased as the natural fixing window shifted into the back end of the second decade of October. Consequently, when charterers did come forward on a firm basis, rates tumbled. The rate for 270,000 mt Middle East Gulf to China has now fallen 12 points over the week to WS37.08 corresponding to a daily round-trip TCE of $5,640 basis the Baltic Exchange’s vessel description. The 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) lost about 3.5 points to WS22.72.

For the Atlantic market, the 260,000 mt West Africa/China rate fell 10 points to WS41.53 (which shows a round voyage TCE of $12,863/day). The rate for 270,000 mt US Gulf/China proved fragile this week and is now assessed at $7,488,889 ($23,800/day round trip TCE), which is a reduction of $455,555 since last Friday.


Suezmaxes in West Africa had a positive change in fortunes this week, with 130,000 mt Nigeria/UK Continent now worth 5.5 points more than a week ago at WS73.32 (a daily round-trip TCE of $18,251). In the Mediterranean and Black Sea region the 135,000 mt CPC/Med route gained a point to just shy of WS73 (showing a daily TCE of about $9,700 round-trip, which is up almost $3,000/day on last Friday). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean also gained a point to a fraction over WS57.5, despite reported limited activity for Western discharge.


In the North Sea, the rate for the 80,000 mt Cross-UK Continent route had an eight-point shaving to WS99.61 (showing a round-trip daily TCE of about $6,900 basis Hound Point to Wilhelmshaven). In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean rose 3.5 points to WS109.5 (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $19,000, which is close to a $4,000/day increase week-on-week). 

Across the Atlantic,  the market quickly changed on Wednesday and into Thursday. The rate for 70,000 mt East Coast Mexico/US Gulf has risen this week 26.5 points to WS106.56 (a daily round-trip TCE of $10,800) and the 70,000 mt Covenas/US Gulf trip climbed 20 points to WS101.88 (a round-trip TCE of $10,400/day). The rate for the Transatlantic route of 70,000 mt US Gulf/UK Continent secured a 20-point rise to WS115.31 (a round trip TCE basis Houston/Rotterdam of $18,600/day).

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