Tanker markets showed mixed performance: LR2 and LR1 rates stabilized, MR tankers rose slightly, Handymax fluctuated, VLCC rates softened, Suezmax fell, and Aframax saw marginal gains across key routes, reports Baltic Exchange.
LR2
An early flutter pushed the MEG LR2’s beginning of this week, only to be recorrected back to where they were by the week end. TC1 75kt MEG/Japan topped out on Wednesday at WS115 up from WS110 where it has returned to. A run West on TC20 90kt MEG/UK-Continent remained flat around the $3.3-3.4m mark.
West of Suez, Mediterranean/East LR2’s on TC15 continued along at the $3.1m region for the second week on week.
LR1
The TC5 55kt MEG/Japan index held flat at the WS110 level despite the LR2’s making small gains mid-week. A trip to the UK-Continent on TC8 65kt MEG/UK-Continent dropped an incremental $64,000 to $2.48m.
On the UK- Continent, the TC16 60kt ARA/West Africa index ticked up this week from WS121 to WS128.
MR
MR’s in the MEG continued gently upwards this week. Subsequently, the TC17 35kt MEG/East Africa index, ticked back up over the WS200 mark to WS201.07 rendering circa $19,000 / day Baltic round trip.
UK-Continent MR’s recharged themselves some value this week. The TC2 index 37kt ARA/US-Atlantic coast hopped up to WS146 from WS127 over a 48hr period early in the week. It has since returned to WS140 for the moment with the Baltic TCE showing $13,276 / day round trip. TC19 37kt ARA/West Africa followed as usual and is currently pegged at WS189.69.
MR’s in the USG remained relatively firm this week. TC14 38kt US-Gulf/UK-Continent was marked 29 points higher than last week at WS195 via a stop at WS204. TC18 the 38kt US Gulf/Brazil index is also climbed 16.43 points to WS247. A short trip on TC21 38kt US-Gulf/Caribbean also jumped up 19% to $1,014,000.
Handymax
In the Mediterranean, Handymax’s jumped up and down again with the TC6 index currently at WS199, where it was 7 days ago despite being pegged at WS230 mid-week.
Up on the UK-Continent, the TC23 30kt Cross UK-Continent index returned up 34 points to WS184.
VLCC
Owners remained under pressure in the VLCC market this week as rates softened further. The 270,000 mt Middle East Gulf to China trip (TD3C) lost 3.5 points to WS39.65 giving a daily round-trip TCE of $18,626 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) eased 2 points to WS47.22 (corresponding to a round voyage TCE of $27,499 per day), while the rate for 270,000 mt US Gulf/China (TD22) ended the week $282,500 lower than a week ago at $6,885,000 (a daily round trip TCE of $32,115).
Suezmax
Charterers regained some control this week in this sector. In West Africa, the 130,000 mt Nigeria/UK Continent voyage (TD20) fell by 3.5 points to WS88, meaning a daily round-trip TCE of $31,749. The TD27 route (Guyana to UK Continent basis 130,000 mt) lost about 4.5 points to WS86.67 which translates into a daily round trip TCE of $30,712 basis discharge in Rotterdam. For the TD6 route of 135,000 mt CPC/Med, the rate was trimmed by 2 points to WS97.8 (showing a daily TCE of $32,675 round-trip). In the Middle East, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) was 1.5 points weaker at WS90.5.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent route (TD7) rose by 2.5 points to WS127.5 (giving a daily round-trip TCE of $32,558 basis Hound Point to Wilhelmshaven).
In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean (TD19) eased by another 2.5 points to WS140.94 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $36,321).
Across the Atlantic, rates rose slightly earlier in the week but by Thursday had settled back to last week’s levels. Basis week-on-week values, the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) rates have remained flat at 176.25 and the WS180 mark, showing a daily round-trip TCE of $41,339 and $47,225, respectively. The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) has capitulated by 15.5 points to WS175.83 (showing a round trip TCE basis Houston/Rotterdam of $42,287 per day).
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Source: balticexchange
