- MEG LR2 rates declined, with TC1 dropping to WS153.33, while LR1 rates strengthened, with TC5 rising to WS180.94. MEG MR rates fell, but USG MRs surged, with TC14 and TC18 seeing strong gains, pushing the Atlantic MR Basket TCE to $31,802.
- VLCC rates dropped on MEG-China and West Africa-China routes, but USG-China rates rose. Suezmax rates increased in the Atlantic, with TD20 reaching WS102.92.
- Cross-UKC Aframax rates climbed to WS126.67, while Mediterranean Aframax spiked to WS198, with strong gains on transatlantic and USG routes.
LR2
The MEG LR2 market weakened, with freight rates declining modestly. The TC1 75Kt MEG/Japan index fell from WS163.61 to WS153.33, while the TC20 90kt MEG/UK-Continent assessment dropped by $243,000 to $3.956m.
West of Suez, the Mediterranean/East LR2 market on TC15 remained stable, with the index settling just below $3m at $2.985m.
LR1
MEG LR1 rates strengthened further this week. The TC5 55kt MEG/Japan index rose by 9.06 points to WS180.94, while westbound TC8 65kt MEG/UK-Continent increased from $3.12m to $3.33m.
In the UKC, LR1s also gained, with the TC16 60kt ARA/West Africa index climbing 2.81 points to WS115.94.
MR
Following last week’s climb, MEG MR rates retreated, with the TC17 35kt MEG/East Africa index falling 27.5 points to WS237.5.
In the UKC, MR rates spiked mid-week before stabilizing. The TC2 37kt ARA/US-Atlantic coast route peaked at WS195, up from WS177.5, before settling at WS185.63. The Baltic round trip TCE for this route closed at $29,086/day.
USG MRs saw strong gains due to increased demand removing prompt tonnage from the market. TC14 38kt US Gulf/UK-Continent rose from WS121.43 to WS136.79, while TC18 38kt US Gulf/Brazil climbed 25 points to WS201.43. The Caribbean run on TC21 (38kt US Gulf/Caribbean) surged by 38% to $839,286.
The MR Atlantic Triangulation Basket TCE increased from $28,283 to $31,802.
Handymax
Baltic Clean Handymax routes softened. The TC6 index in the Mediterranean fell 30 points to WS248.89, while the TC23 30kt Cross UK-Continent route declined from WS206.94 to WS198.06.
VLCC
The VLCC market eased, with the 270,000 mt Middle East Gulf to China (TD3C) rate dropping 6 points to WS58.95, corresponding to a round-trip TCE of $39,224.
In the Atlantic, the 260,000 mt West Africa/China (TD15) route also declined by 6 points to WS59.88, with a round voyage TCE of $40,899/day. Conversely, the 270,000 mt US Gulf/China (TD22) rate rose by $262,555 to $8.522m, translating to a round-trip TCE of $45,838/day.
Suezmax
Suezmax rates strengthened in the Atlantic. The 130,000 mt Nigeria/UKC voyage (TD20) recovered 7 points to WS102.92, yielding a round-trip TCE of $45,125. Similarly, the TD27 route (130,000 mt Guyana to UKC) increased by 6 points to WS100.28, corresponding to a daily TCE of $43,322 (Rotterdam discharge basis).
The 135,000 mt CPC/Mediterranean (TD6) rate remained stable at WS130, providing a round-trip TCE of $63,123. In the Middle East, the TD23 route (140,000 mt MEG to Med via Suez) held steady at WS93-94.
Aframax
The North Sea Aframax market rebounded, with the 80,000 mt Cross-UKC route (TD7) gaining 19 points to WS126.67, translating to a daily round-trip TCE of over $43,100 (Hound Point to Wilhelmshaven basis).
In the Mediterranean, Aframax rates surged, with the 80,000 mt Cross-Med route (TD19) jumping 69 points to WS198 (Ceyhan to Lavera basis), yielding a round-trip TCE of $69,372.
Across the Atlantic, Aframax rates saw substantial increases. The 70,000 mt East Coast Mexico/US Gulf (TD26) and the 70,000 mt Covenas/US Gulf (TD9) routes rose by nearly 47 and 45 points, respectively, to just above WS189, translating to daily round-trip TCEs of $49,644 and $46,392.
The transatlantic 70,000 mt US Gulf/UK Continent route (TD25) gained 34 points to WS182.5, with a Houston-Rotterdam round-trip TCE of $47,747/day.
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Source: Baltic Exchange
