The tanker market saw mixed movements, with MR and Handymax rates increasing, while LR1, LR2, VLCC, and Suezmax sectors experienced declines across several regions, reports Baltic Exchange.
LR2
LR’s in the MEG held steadfast this week. TC1 plateaued at WS115 where it has been for several days, and for a run west on TC20 the index dipped $80,000 to just below $4.1m.
West of Suez, Mediterranean/East LR2’s on TC15 shed 5% of its value dropping to $2.85m.
LR1
In the MEG, LR1’s had yet another week of downward pressure. The TC5 index 55kt CPP AG/Japan was marked another 10.94 points down to WS125. By comparison, the index on a voyage west on TC8 remained flat around the $3.58m level.
On the UK-Continent, the TC16 market continued along its WS110 path without much sign of changing.
MR
MEG MR’s managed to resurge optimistically this week. The TC17 index as a result was assessed 53.57 points firmer than last week and currently sits at WS231.43.
UK-Continent MR’s bottomed out this week. TC2 currently sits at WS90 after a couple of days in the high WS80’s mid-week, and TC19 followed as usual, reaching WS112.81 in the middle of the week to tick back up to WS114.88 at time of writing.
USG MR’s continued their upward trend this week despite recent bad weather in the region. TC14 jumped another 25.35 points to WS222.14 with the Baltic TCE for the trip going up over the $30,000/ day. TC18 has done the same although to a slightly lesser extent, the index is marked at WS270 (+21.43) from last week. For a run down to the Caribbean on TC21, a 10% climb on freight levels has the index pegged at $1.15m.
The MR Atlantic Triangulation Basket TCE gained $4,760 to $33,473.
Handymax
In the Mediterranean, Handymax’s had a welcome upturn, and as a result we saw TC6 jump 30 points to WS125.56. The Baltic TCE for TC6 is now back up out of the negative and up to $6,038 $/day round trip.
Up on the UK-Continent, the TC23 also shot up 26.67 points to WS136.67.
VLCC
The VLCC market took a turn downwards this week. The 270,000 mt Middle East Gulf to China trip eased 1.5 points to WS58 which gives a daily round-trip TCE of $36,206 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China dipped 2 points to WS61.22 (corresponding to a round voyage TCE of $39,940 per day), and the rate for 270,000 mt US Gulf/China dropped $50,000 to $8,495,000 (a daily round trip TCE of $42,463).
Suezmax
Suezmax rates eased this week. In West Africa, the 130,000 mt Nigeria/UK Continent voyage fell 16 points to WS89 (a daily round-trip TCE of $32,151). The TD27 route (Guyana to UK Continent basis 130,000mt) was assessed at WS90, down 18 points week-on-week, which translates into a daily round trip TCE of $32,500 basis discharge in Rotterdam. In the Mediterranean and Black Sea region, the rate for 135,000 mt CPC/Med had a 3-point reduction to WS97.25 (showing a daily TCE of $31,578 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) gained another 2 points to WS104.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent fell 7 points to WS123.75 (translating to a daily round-trip TCE of almost $27,220 basis Hound Point to Wilhelmshaven).
In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean rocketed 36 points to WS185.28 (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $57,759).
Across the Atlantic, the market fell back down. Rates for the 70,000 mt East Coast Mexico/US Gulf (TD26) route and the 70,000 mt Covenas/US Gulf (TD9) route fell 45 points each showing a daily round-trip TCE of $47,575 and $42,791, respectively. The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) fell 43 points to WS175.28 (a round trip TCE basis Houston/Rotterdam of $42,008 per day).
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Source: Baltic Exchange
