MEG LR1 rates improve, with TC5 rising to WS108.75 and TC8 holding at $2.58M. UK-Continent routes maintain steady rates near WS115, reports Baltic Exchange.
LR2
MEG LR2’s saw freight levels improve incrementally this week. The TC1 rate for 75kt MEG/Japan added 4.45 points to is value taking the index to WS100.28 while the 90kt MEG/UK-Continent TC20 voyage climbed by $193,813 to $3.04m.
West of Suez, the Mediterranean/East LR2’s were somewhat muted, the TC15 index managed to recover a modest $20,833 to a little over $2.65 million.
LR1
In the MEG, LR1’s indicated some positive trend this week. The 55kt MEG/Japan index of TC5 went up 3.44 points to WS108.75 and the 65kt MEG/UK-Continent of TC8 added $85,800 to hold just over $2.58 million.
On the UK-Continent, a 60kt ARA/West Africa run on TC16 continued long the WS112.5-115 path holding the Baltic TCE for the run to about $15,500 per day round trip.
MR
MR’s in the MEG remained relatively flat. The TC17 35kt MEG/East Africa hopped up 3.57 points to WS170 (showing a daily TCE of about $13,510 per day round trip).
On the UK-Continent MR’s, the 37kt ARA/US-Atlantic coast of TC2 jumped up 38.13 points to WS129.69 which translates to a Baltic round trip TCE of $10.794 per day and the TC19 run (37kt ARA/West Africa) climbed 30 points to WS157.81.
Across the Atlantic, the MR’s also improved from this time last week. TC14 (38kt US-Gulf/UK-Continent) hopped up 14.28 points to WS164.64 (about $18,692 per day basis a round trip TCE). The 38kt US Gulf/Brazil on TC18 went from WS200.71 to WS216.79 (a daily round trip TCE of $27,707) and the 38kt US-Gulf/Caribbean of TC21 cranked up 26% to $677,143.
Handymax
In the Mediterranean, 30kt Cross Mediterranean (TC6) continued upward with gusto, the index settled 72.22 points higher than last week at WS176.11.
Up in Northwest Europe, the TC23 30kt Cross UK-Continent went from WS121.39 to WS163.89.
VLCC
The VLCC market began the week in a seemingly robust position with indications of market improvement following on from the Bahri event last week, to then be recorrected back down. The TD3C benchmark 270,000 mt Middle East Gulf to China went from WS56.8, peaking at WS58.8 is currently marked at WS53.95, providing a daily round-trip TCE of $32,721 basis the Baltic Exchange’s vessel description.
In the Atlantic, the market followed the same behaviour as the MEG. The 260,000 mt West Africa to China peaked mid-week at a little over WS60 returning down to WS57.17 and showing a round voyage TCE of $36,653 per day. The rate for 270,000 mt US Gulf to China remained stable in the $7.3 – $7.4m region all week corresponding to a round-trip daily TCE of $35,415.
Suezmax
The Suezmax market in West Africa took showed signs of a modest upturn this week. The rate for 130,000 mt Nigeria to UK Continent climbed 4.45 points to WS79.56 (a daily round-trip TCE of $26,866). In the Mediterranean and Black Sea region the rate manged to tick over the WS90 level for the 135,000 mt CPC/Mediterranean route (showing a daily TCE of about $26,505 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) is assessed 1.06 points higher than last Friday at WS92.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent crept up to WS126.33 (+WS5.5) generating a daily round-trip TCE of $29,324 basis Hound Point to Wilhelmshaven.
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean hopped up to the tune of 18.91 points to WS137.72 (basis Ceyhan to Lavera, that shows a daily round trip TCE improvement on 38% of $34,303).
Across the Atlantic, rates spiked early in the week to then pause and loose a little steam. For the 70,000 mt East Coast Mexico/US Gulf (TD26) the rate was ultimately 14.45 points firmer a WS113.89 (a daily TCE of $17,632 round trip) and the rate for 70,000 mt Covenas/US Gulf (TD9) was 15 points up on last Friday’s rate at WS112.5 (a round-trip TCE of $16,780 per day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) rose by 15.28 points to WS133.61 (a round trip TCE basis Houston/Rotterdam of $27,559 per day).
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Source: Baltic Exchange
