Baltic Exchange has issued the tanker report for the 39th week of this year. The report of 30th September 2022 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
Clean
In the Middle East Gulf this week all Baltic TC sectors have suffered a decline in freight levels. Lack of open activity has been the trend and APPEC may have played a role in that. TC1 lost 39.37 points to end up at WS194.38. For TC20, an LR2 heading west dipped below $4,000,000 for the first time since mid-July this year. On the LR1s, TC5 came off to WS216.43 (-67.86) and a run west (TC8) dropped from $,4,250,000 to around $3,500,000. Similarly, the MRs of TC17 lost 90.83 points to end up at WS266.67 by the end of the week.
West of Suez LRS have been subject to inactivity again. TC15 had been widely reported fixed at $4,250,000 midweek and softening sentiment has led the index down through that to $4,100,000 at present. On TC16, LR1s held steady around WS210-215 all week.
On the UK-Continent MR Supply has continued to outweigh demand and subsequently TC2 lost 32.22 points to WS267.22 and similarly TC19 shed 33.58 points to end up at WS275.71
In the US Gulf MRs have continued to yo-yo with activity coming in lightning strikes followed by silence. The TC14 and TC18 indices have reacted in line with this behaviour. Despite this, TC14 is still earning around $30,000-35,000 /day TCE and TC18 around $50,000-55,000 /day at present freight levels.
The MR Atlantic Triangulation Basket TCE lost $4936 from $56,286 to $51.350.
On the Handymax, in the Mediterranean TC6 has continued up this week to around the WS325 mark where it looks to have plateaued. In the Baltic TC9 has also climbed this week (+26.43) to WS351.43 reacting to the increased Handymax demand in North West Europe.
VLCC
VLCC rates peaked at the end of last week and have fallen daily this week. The 270,000mt Middle East Gulf/China route is now 18 points lower than a week ago at about WS85 (a round-trip TCE of $50,100 per day), while the rate for 280,000mt Middle East Gulf/USG (via Cape of Good Hope) had six points shaved off to just below WS47.5.
In the Atlantic, rates for 260,000mt West Africa/China fell 13.5 points to between WS86.5-87 ($52,800 per day round-trip TCE). For the 270,000mt US Gulf/China market rates fell a further $668,750 to $9,618,750 (showing a round trip TCE of $41,500 per day).
Suezmax
Rates for 135,000mt Black Sea/Augusta eased two points to the WS 182.5 region (a round-trip TCE of $77,200 per day, which is $800 per day more than a week ago). Meanwhile, for the 130,000mt Nigeria/UKC trip rates eased 3.5 points to a little above WS135 (a round-trip TCE of about $42,500 per day which is marginally up from last week).
In the Middle East the rate for 140,000mt Basrah/West Mediterranean has held at the WS66-66.5 mark, with Repsol now being reported to have taken a Frontline suezmax at WS66.5 Basrah/Spain loading mid-October.
Aframax
The Mediterranean market made further gains this week with the rate for 80,000mt Ceyhan/West Mediterranean 14 points firmer at WS201 (a round-trip TCE of $53,600 per day). In Northern Europe, a flurry of activity enabled owners to push the rate up and
the latest assessment for the 80,000mt Hound Point/UK Continent trip is up 31.5 points at between WS195-197.5 (a daily round trip TCE of $65,500 per day). For the 100,000mt Primorsk/UK Cont route the rate is now assessed 34 points higher at about WS 220 (a round-trip TCE of $74,200 per day).
Across the Atlantic, the market continued to weaken with the rate for 70,000mt EC Mexico/US Gulf falling 35 points to about WS220 (a round-trip TCE of $44,500 per day) while the rate for the 70,000mt Caribbean/US Gulf trip lost 24 points to WS 214-215 level (a daily round-trip TCE of about $39,600). For the transatlantic route of 70,000mt US Gulf/UK Continent, the rate shed nine points to between WS205-207.5 (showing a $38,200 per day round-tip TCE, which is in line with a week ago).
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Source: Baltic Exchange
