The Baltic Exchange reported a mixed but largely softer Week 49 for the global tanker market. Activity varied across regions and vessel classes, with several key indices sliding through the week. Clean and crude tankers both recorded notable shifts, driven by changing freight demand and regional rate adjustments.
Clean Tankers
LR2
LR2 performance in the Middle East Gulf moved lower throughout the week. The TC1 75kt MEG–Japan route began at WS183.33. It then declined steadily to WS158.89 by Friday. Westbound activity softened as well. The TC20 90kt MEG–UK Continent run dropped from $4.55 million to $4.04 million. Corresponding TCE levels eased from $48,851 per day to $38,968 per day.
In the Mediterranean, the TC15 80kt Med–East route firmed slightly. It rose from $3.81 million to $3.96 million. However, round-trip TCE earnings stayed stable, moving only from $23,331 per day to $23,325 per day.
LR1
LR1 freight in the Middle East Gulf also weakened. The TC5 55kt MEG–Japan index started at WS188.75. It slipped to WS180.63 by week’s end. Westbound values on the TC8 65kt MEG–UK Continent route adjusted down to 51.43 $/mt.
Meanwhile, LR1 activity in Europe strengthened. The TC16 60kt ARA–West Africa index increased from WS142.86 to WS148.57 during the week.
MR
MR tankers in the Middle East Gulf recorded softer levels. The TC17 35kt MEG–East Africa index moved lower from WS245.36 to WS219.64. Baltic TCE earnings eased from $29,148 per day to $23,522 per day.
On the UK–Continent, MR sentiment varied. The TC2 37kt ARA–US Atlantic Coast route dropped from WS167.81 to WS150.63. The corresponding Baltic TCE shifted from $20,420 per day to $16,674 per day.
In the US Gulf, MR freight improved. The TC14 38kt US Gulf–UK Continent route began at WS173.57 and increased to WS180. Baltic TCE levels edged from $23,212 per day to $24,228 per day.
The Caribbean leg, TC21 38kt US Gulf–Caribbean, rose from $782,143 to about $785,714. TCE earnings eased slightly from $28,171 per day to $27,986 per day. The TC24 38kt US Gulf–Chile index moved higher from $2.30 million to around $2.33 million. The MR Atlantic Triangulation Basket TCE fluctuated between $36,632 per day early in the week and $35,823 per day at the end.
Handymax
The Handymax segment saw declines in both the Mediterranean and North Europe. The TC6 30kt Cross-Mediterranean route fell to WS180.56 with a Baltic TCE of $20,632 per day. The TC23 30kt Cross UK–Continent route moved from WS230 to WS204.44.
Crude Tankers
VLCC
VLCC rates softened across all Baltic Exchange routes. The 270,000 mt Middle East Gulf–China run (TD3C) decreased by about 6.5 points to WS123.42. The round voyage TCE settled at $125,613 per day.
In the Atlantic market, the 260,000 mt West Africa–China route (TD15) fell 5 points to WS114.38. The daily round-trip TCE level reached $107,919. The US Gulf–China route (TD22) eased by approximately $51,000 to $13,773,889, reflecting a daily TCE slightly above $94,600.
Suezmax
Suezmax markets also weakened. The 130,000 mt Nigeria–UK Continent route (TD20) lost more than 15 points to WS132.5, producing a daily TCE of about $65,000. The TD27 130,000 mt Guyana–UK Continent route recorded the same decline, reaching WS130 with a daily TCE of around $63,200.
The 135,000 mt CPC–Augusta route (TD6) eased nearly 5 points to WS178.5. This produced a daily TCE of slightly above $103,921. In the Middle East, the 140,000 mt MEG–Mediterranean Suez Canal route (TD23) softened by about 5 points and sat in the WS105–107.5 range.
Aframax
In the North Sea, the 80,000 mt Cross-UK Continent route (TD7) dipped 1.5 points to WS158. The daily TCE stood near $70,300. In the Mediterranean, the TD19 80,000 mt Cross-Mediterranean route slipped 4 points to WS184. The associated TCE was close to $56,800.
Atlantic Aframax markets showed additional pressure. The 70,000 mt East Coast Mexico–US Gulf route (TD26) moved down 15 points to WS190. This reflected a daily TCE slightly above $51,100. The 70,000 mt Covenas–US Gulf route (TD9) lost 12 points to around WS190, generating a daily TCE near $47,600.
The 70,000 mt US Gulf–UK Continent route (TD25) decreased by 10 points and was close to WS202. The TCE basis Houston–Rotterdam registered just over $56,300 per day.
On the Pacific side, TD28 (80,000 mt Vancouver–China) continued its downward movement. Levels dropped by $300,000 to $3,062,500. The TD29 80,000 mt Vancouver–Pacific Area Lightering route fell 11 points to WS240.
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Source: Baltic Exchange
