Following on from the notable improvements MEG LR2’s stagnated this week. The TC1 75Kt MEG/Japan index subsequently floated around the WS125 level and TC20 90kt MEG/UK-Continent assessments paused around $3.4 million, reports Baltic Exchnage.
VLCC
The VLCC market reached its peak on Wednesday and is now experiencing a decline, especially pronounced in the Middle East and US Gulf regions.
- Middle East Gulf to China (TD3C): The rate, which had risen to WS70, is now assessed at WS64.94, resulting in a round-trip TCE of $44,160/day.
- West Africa to China (TD15): The rate, which peaked at WS68, has fallen back to WS66.19, giving a round voyage TCE of $46,032/day.
- US Gulf to China (TD22): After climbing to nearly $8,500,000, the rate has decreased to $8,417,500, yielding a daily round-trip TCE of $42,735, a slight increase from the previous Friday.
Suezmax
Suezmax owners experienced continued pressure this week.
- Nigeria to UK Continent (TD20): The rate declined by 2.5 points to WS91.94, resulting in a daily round-trip TCE of $36,940.
- Guyana to UK Continent (TD27): The rate remained stable at WS90, translating to a daily round-trip TCE of $35,410 based on discharge in Rotterdam.
- CPC to Mediterranean (TD6): With approximately 80% of the scheduled 39 Suezmax cargoes covered, the rate fluctuated between WS112.5 and WS115, depending on the requirement for eastern discharge. This translates to a daily round-trip TCE of $48,930.
- Middle East Gulf to Mediterranean (TD23): The rate settled at WS90.
Aframax
The Aframax market showed varied trends across different regions:
- North Sea (TD7): The rate for the 80,000 mt Cross-UK Continent route increased by 2.5 points, reaching just above WS110, resulting in a daily round-trip TCE of approximately $28,600.
- Mediterranean (TD19): The rate for the 80,000 mt Cross-Mediterranean route decreased by 15 points to WS130.78, yielding a daily round-trip TCE of $33,002.
- East Coast Mexico/US Gulf (TD26) and Covenas/US Gulf (TD9): Both routes experienced a 15-point increase to WS133, translating to daily round-trip TCEs of approximately $23,600 and $23,800, respectively.
- US Gulf/UK Continent (TD25): The rate for the trans-Atlantic route increased by six points to WS146.39, giving a round-trip TCE of $33,376/day.
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Source: Baltic Exchange
