In the Atlantic market, rates for large tankers have declined, with specific drops for West Africa/China and US Gulf/China routes. Suezmax rates also weakened, particularly in West Africa and the Mediterranean. Aframax rates showed mixed trends, with gains in the Mediterranean but significant declines in the Atlantic, reports baltic exchange.
LR2
LR’s in the MEG continued to trundle along stable this week. The 75Kt MEG/Japan TC1 index floated around the WS150 mark. The 90kt MEG/UK-Continent of TC20 is also coasted along at the $4.4m – $4.6m position all week.
West of Suez, Mediterranean/ LR2’s on TC15 maintained their recumbency at $4.2m for the second week on week.
LR1
In the MEG, LR1’s remained relatively flat this week. The 55kt MEG/Japan index of TC5 continued to hover around the WS155 level while the 65kt MEG/UK-Continent of TC8 did dip $100,000 to $3.73 million. On the UK-Continent, the 60Kt ARA/West Africa TC16 index lingered prostrate in the high WS140’s.
MR
MR’s in the MEG ticked along with just enough enquiry to prevent softening. The 35kt MEG/East Africa TC17 index, as a result, resided at WS200 all week.
UK-Continent MR’s looked as though they were going to recover mid-week. The 37kt ARA/US-Atlantic coast of TC2 peaked at WS211 mid-week but then returned quickly back to the WS200 level. TC19 (37kt ARA/West Africa) similarly hopped up to WS230 at the same time and then dropped back to WS220 by the end of the week.
The USG MR’s were by comparison to recent behaviour relatively flat this week. Within the week TC14 (38kt US-Gulf/UK-Continent) stayed around the WS155-165 level. The 38kt US-Gulf/Brazil of TC18 did by comparison drop 15 points from WS242 to WS227 and the 38kt US-Gulf/Caribbean TC21 was assessed around the $677,000-750,000 range all week.
Handymax
In the Mediterranean, Handymax’s took a heavy hit and TC6 30kt Cross-Med lost 59 points to WS156. Up in northwest Europe, the TC23 30kt Cross UK-Continent shed 15 points to WS191.
VLCC
The VLCC market fell away this week, losing recent gains. The 270,000 mt Middle East Gulf to China trip lost eight points to WS47, corresponding to a daily round-trip TCE of $23,656 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China eased five points to WS52.39 (which shows a round voyage TCE of $30,028/day), whilst the rate for 270,000 mt US Gulf/China was reduced by $335,000 to $7,100,000 ($30,929/day round trip TCE).
Suezmax
Suezmaxes in West Africa were again weaker this week, with the rate for 130,000 mt Nigeria/UK Continent dropping another seven points to WS80.39 (a round-trip TCE of $26,268/day). Baltic Exchange has introduced a new route (TD27) from Guyana to UK Continent basis 130,000mt, which was assessed on Thursday at WS80.56, giving a daily round trip TCE of $26,034 basis discharge in Rotterdam. In the Mediterranean and Black Sea region the 135,000 mt CPC/Med route slipped a further 2.5 points to about WS97.5 (showing a daily TCE of just below $31,000 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) remained around WS85.
Aframax
In the North Sea, the rate for the 80,000mt Cross-UK Continent held at the WS120 level (translating to a daily round-trip TCE of a little over $23,200 basis Hound Point to Wilhelmshaven).
In the Mediterranean market the rate for 80,000mt Cross-Mediterranean recovered recent losses, gaining 18.5 points to WS146.67 (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $37,800).
Across the Atlantic, the market continues to collapse. For the 70,000mt East Coast Mexico/US Gulf (TD26) the rate fell a further 71.5 points to WS128.33 (a daily TCE of $17,851 round trip) while the rate for 70,000mt Covenas/US Gulf (TD9) capitulated 62.5 points to WS118.44 (a round-trip TCE of $18,145/day). The rate for the trans-Atlantic route of 70,000mt US Gulf/UK Continent (TD25) lost almost 25 points to WS128.33 (a round trip TCE basis Houston/Rotterdam of $24,742/day).
Did you Subscribe to our daily newsletter?
It’s Free! Click here to Subscribe
Source: balticexchange
