LR2
MEG LR2’s saw a mixed reaction on freight levels this week. The TC1 rate for 75kt MEG/Japan recovered four points to WS200.56 while the 90kt MEG/UK-Continent TC20 voyage fell by $168,750 to $5,925,000.
West of Suez, the Mediterranean/East LR2’s did not fare well either, the TC15 index was reduced by $216,666 to a little over $3.8 million.
LR1
In the MEG, LR1 freight was lower. The 55kt MEG/Japan index of TC5 falling 11 points to just below WS230. The 65kt MEG/UK-Continent of TC8 lost $193,050 to just above $4.41 million.
On the UK-Continent, a 60kt ARA/West Africa run on TC16 has lost four points this week to WS157.78 taking the Baltic TCE for the run to about $27,500 per day round trip.
MR
MR’s in the MEG took a tumble this week, but from heady heights. The TC17 35kt MEG/East Africa fell from WS365 to WS337 (showing a daily TCE of about $40,000 per day round trip).
On the UK-Continent MR’s, the 37kt ARA/US-Atlantic coast of TC2 recovered 22 points to WS163.44 which translates to a Baltic round trip TCE of $16,642 per day and the TC19 run (37kt ARA/West Africa) climbed 23 points to WS184.69.
Across the Atlantic, the MR’s continued downwards with TC14 (38kt US-Gulf/UK-Continent) collapsing 74 points to WS136.43 (about $12,300 per day basis a round trip TCE). The 38kt US Gulf/Brazil on TC18 went fell 70 points to WS212.86 (a daily round trip TCE of $26,327) and the 38kt US-Gulf/Caribbean of TC21 dropped by over 41% to $680,000.
Handymax
In the Mediterranean, 30kt Cross Mediterranean (TC6) continued to take a beating with the market reducing by 33 points to WS178.89 (a round trip TCE now of a little under $20,000 per day). Up in North West Europe, the TC23 30kt Cross UK-Continent went from WS180 to WS167.5.
VLCC
The VLCC market continued heading downwards this week with the rate for the benchmark 270,000 mt Middle East Gulf to China falling a further two points to WS51.10 which provides a daily round-trip TCE of $28,577 basis the Baltic Exchange’s vessel description.
In the Atlantic, here too the market was softer. The 260,000 mt West Africa to China was almost two points lower than last Friday at WS56.56 showing a round voyage TCE of $34,982 per day, and the rate for 270,000 mt US Gulf to China fell by $305,000 to $8,215,000 corresponding to a round-trip daily TCE of $40,050.
Suezmax
The Suezmax market in West Africa outlook reversed the recent drop this week, helped in part by a firming Suezmax market in the US Gulf and Caribbean region. The rate for 130,000 mt Nigeria to UK Continent regained five points to WS113.72 (a daily round-trip TCE of $58,800). In the Mediterranean and Black Sea region the rate hovered around the WS123 level for the 135,000 mt CPC/Mediterranean route (showing a daily TCE of about $50,000 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) is assessed four points lower than last Friday at around WS100.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent gained another two points to WS174.17 (a daily round-trip TCE of $67,741 basis Hound Point to Wilhelmshaven).
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean lost another 19 points to WS162.72 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $45,784).
Across the Atlantic, rates continue to climb albeit not as sharply as in previous weeks. For the 70,000 mt East Coast Mexico/US Gulf (TD26) the rate was a solitary point firmer at WS246.88 (a daily TCE of $73,464 round trip) and the rate for 70,000 mt Covenas/US Gulf (TD9) was seven points up on last Friday’s rate at WS238.75 (a round-trip TCE of $64,301 per day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) rose by 17 points to WS228.61 (a round trip TCE basis Houston/Rotterdam of $59,746 per day), which might just encourage some ballasters from Europe.
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Source: balticexchange
