The Baltic Exchange: Tanker report - Week 34
The Baltic Exchange: Tanker report - Week 34
Clean
LR2
LR2’s in the MEG have simmered along this week with just enough enquiry to prevent freight levels degrading. TC1 has hovered around the WS130-135 mark (a Baltic TCE of around $27,000/day). Meanwhile a run to the UK-Continent on TC20 also bubbled up and down around the $3.6-3.8m level, with the round trip TCE around the $30,000/day mark.
West of Suez, Mediterranean/East LR2’s saw a $112,000 improvement on TC15 taking the index up over $2.9m and the round trip TCE back to four figures ($3,082/day).
LR1
In the MEG, LR1’s were put under pressure this week after starting positively. The TC5 index was ultimately squashed to the tune of 7.82 points to WS144.06 and similarly for a trip to the UK-Continent on TC8, after peaking at $3,339,000 sunk back down to $3,200,000
On the UK-Continent, TC16 ticked 6.87 points firmly back over the WS130 mark to WS135.31.
MR
MEG MR’s climbed early in the week to see the TC17 index peak at WS281.43 after a handful of market reported fixtures at WS280 level. The index has since been retested back down to WS274.29.
UK-Continent MR’s were poised this week from supply and demand balancing freight on a knife edge. TC2 has held in the WS200-205 region with TC19 also floating around WS210-215 level.
USG MR’s upward trajectory slowed down this week and even saw some softening. TC14 shed 5.83 points to WS152.5 and TC18 dipped 4.58 points to WS242.5. Meanwhile a run to the Caribbean on TC21 sunk back under the $1,000,000 mark to $916,000 after a widely reported fixture at $925,000 late in the week.
The MR Atlantic Triangulation Basket TCE dropped from $35,032 to $34,676.
Handymax
In the Mediterranean, Handymax’s improved for the second week on week and the TC6 index accrued 32.22 points to WS254.44. This took the Baltic round trip TCE back over the $40,000/day mark for the run. Meanwhile up on the UK-Continent, the TC23 index remained stable at the WS185 mark again all week.
VLCC
The Middle East VLCC market looks to have bottomed out this week with little business working in the open market. For the 270,000 mt Middle East Gulf to China voyage the rate dipped by 1.45 points to WS44.13. This shows a daily round voyage TCE of $16,688/day based on the Baltic Exchange’s vessel description. The rate for 280,000 mt Middle East Gulf to US Gulf (via the cape/cape routing) is assessed a further 0.16 points lower, holding around the WS26 mark.
In the Atlantic, the 260,000 mt West Africa/China held flat around the WS51-52 level, showing a round-trip TCE of $28,000/day. The rate for 270,000 mt US Gulf/China climbed $111,111 to $8,400,000 ($33,274/day round trip TCE) off the back of a couple of fixtures with improved levels.
Suezmax
The rate for 135,000 mt CPC/Augusta stepped up and incremental two points this week to WS72.8 (a round-trip TCE of just under $9,500/day). In West Africa, the 130,000 mt Nigeria/Rotterdam voyage was more active this week. Freight levels ticked up over the WS70 mark to WS75.45 (+6.59) (a daily round-trip TCE of about $19,586/day). In the Middle East, activity levels were minimal seeing the 140,000 mt Basrah/Lavera drop to just under WS60.
Aframax
In the North Sea market, rates for the 80,000 mt Hound Point/Wilhelmshaven climbed optimistically to WS105 (+8.57) (a round-trip daily TCE of $9,497). In the Mediterranean, the rate for 80,000 mt Ceyhan/Lavera also took a small positive jump to the tune of 2.5 points to WS108.72 (a daily round-trip TCE of $18,106). Across the Atlantic, the Stateside Aframax began to show signs of rebounding. The rate for 70,000 mt East Coast Mexico/US Gulf improved by 4.06 points to the WS130’s region (about $21,722/dayround-trip TCE). Meanwhile, the rate for 70,000 mt Covenas/US Gulf ticked up 0.62 points to WS120 (a daily round-trip TCE of $18,240). For the transatlantic route of 70,000 mt US Gulf/Rotterdam, rates similarly eased upwards, rising 2.19 points up over the WS120 mark to WS121.25 (showing a round-trip TCE of $20,920/day).
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