The VLCC markets improved this week with the US Gulf export route having the bigger jump up.
VLCC Market Movements
The VLCC sector improved, driven by strong export routes from the US Gulf.
- Middle East Gulf to China (TD3C): Rate gained 3 points to WS94.72, equating to a daily Round-Trip Time Charter Equivalent (TCE) of $85,109.
- West Africa/China (TD15): Rate rose 4 points to WS92.81, giving a daily Round Voyage TCE of $82,482.
- US Gulf to China (TD22): This route saw the most significant rise, gaining over $1,800,000 to reach $12,377,778, showing a daily Round Trip TCE of around $62,960. Owners’ sentiment remains firm due to a tight Atlantic list.
Suezmax Market Movements
The Suezmax market firmed further, with the largest increases observed in the Atlantic.
- Nigeria/UK Continent (TD20): Rate increased by 25 points to WS131.94, translating to a daily Round-Trip TCE of $64,394.
- Guyana to UK Continent (TD27): Rate rose by 27 points to WS129.87, meaning a daily Round Trip TCE of a little over $63,000.
- CPC/Augusta (TD6): Rate moved up 8.5 points to WS149.33, giving a daily TCE of about $79,300.
- Middle East Gulf to the Mediterranean (TD23): Rate gained 4 points to WS103.56.
Aframax Market Movements
The Aframax sector showed marginal to moderate gains across most routes.
North Sea and Mediterranean
- Cross-UK Continent (TD7): Rate remained flat at WS142, with a daily Round-Trip TCE of just over $53,600.
- Cross-Mediterranean (TD19): Rate continued to improve, adding 12.5 points to WS171.36, showing a daily Round Trip TCE of just over $50,100.
Atlantic
- East Coast Mexico/US Gulf (TD26): Rate added 3 points to just shy of WS150, giving a daily Round-Trip TCE of a little over $32,500.
- Covenas/US Gulf (TD9): Rate was about 2 points firmer at the WS145 mark, translating into a daily Round Trip TCE of just over $31,000.
- US Gulf/UK Continent (TD25): Trans-Atlantic rate gained 9 points to a little over WS167, giving a Round Trip TCE of about $43,500 per day.
Vancouver Exports
- Vancouver to China (TD28): Rate remained around $2,825,000.
- Vancouver to Pacific Area Lightering point (TD29): Rate remained at WS190.
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Source: Baltic Exchange
