Mixed week for shipping: LR2 and VLCC rates fell, while Suezmax and MR segments showed positive trends. Aframax remained steady with slight improvements in the Atlantic, reports Baltic Exchange.
LR2
MEG LR2’s saw freight levels weaken again this week. The TC1 rate for 75Kt MEG/Japan dipped 5.28 points to WS130.83 while the 90kt MEG/UK-Continent TC20 voyage fell by $46,498 to $4,128,502. West of Suez, the Mediterranean/East LR2’s were somewhat muted, the TC15 index was reduced by $79,167 to a little over $3.26 million.
LR1
In the MEG, LR1 freight was relatively stable. The 55kt MEG/Japan index of TC5 snuck up 1.181 points to WS126.19. The 65kt MEG/UK-Continent of TC8 added $21,450 to hold just over the $3 million. On the UK-Continent, a 60Kt ARA/West Africa run on TC16 lost 5.39 points this week to WS129.05, taking the Baltic TCE for the run to about $18,300/day round trip.
MR
MR’s in the MEG continued along their current trajectory. The TC17 35kt MEG/East Africa hopped up 3.58 points to WS204.29 (showing a daily TCE of about $18,278/day round trip).
On the UK-Continent MR’s, the 37kt ARA/US-Atlantic coast of TC2 crumbled 10.19 points to WS119.81, which translates to a Baltic round trip TCE of $8,879/day and the TC19 run (37kt ARA/West Africa) shed 10.32 points to WS139.06.
Across the Atlantic, the MR’s began to recover with gusto as TC14 (38kt US-Gulf/UK-Continent) jumped up 29.29 points to WS172.5 (about $21,139/day basis a round trip TCE). The 38kt US Gulf/Brazil on TC18 went from WS203.57 to WS235.71 (a daily round trip TCE of $30,920) and the 38kt US-Gulf/Caribbean of TC21 cranked up 46% to $837,857.
Handymax
In the Mediterranean, 30kt Cross Mediterranean (TC6) continued upward north of WS200 this week, improving by 33.95 points to WS206.17 (a round trip TCE of $27,798, up 53%). Up in Northwest Europe, the TC23 30kt Cross UK-Continent went from WS128.33 to WS133.12.
VLCC
The VLCC market continued its downward trajectory this week, with the rate for the TD3C benchmark 270,000 mt Middle East Gulf to China falling a further 7.7 points to WS52.95, which provides a daily round-trip TCE of $30,565 basis the Baltic Exchange’s vessel description.
In the Atlantic, the market was also softer from this time last week. The 260,000 mt West Africa to China was a little over five points lower than last Friday at WS57.67 showing a round voyage TCE of $36,005/day. The rate for 270,000mt US Gulf to China did manage to recoup a little, climbing by $270,000 to $7,470,000 corresponding to a round-trip daily TCE of $34,225.
Suezmax
The Suezmax market in West Africa took showed signs of an upturn this week. The rate for 130,000 mt Nigeria to UK Continent reflected this by climbing 2.92 points to WS78.61 (a daily round-trip TCE of $25,986). In the Mediterranean and Black Sea region the rate held stable around the WS87.5 level for the 135,000 mt CPC/Mediterranean route (showing a daily TCE of about $23,908 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) is assessed 4.39 points higher than last Friday at around WS89.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent remained steady at the WS120 level (a daily round-trip TCE of $24,553 basis Hound Point to Wilhelmshaven).
In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean was resolute at around the WS125 mark (basis Ceyhan to Lavera shows a daily round trip TCE of $27,387).
Across the Atlantic, rates began to show improvement albeit only incrementally. For the 70,000 mt East Coast Mexico/US Gulf (TD26), the rate was less than a point firmer WS116.31 (a daily TCE of $18,158 round trip) and the rate for 70,000 mt Covenas/US Gulf (TD9) was 2.81 points up on last Friday’s rate at WS114.69 (a round-trip TCE of $17,457/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) rose by 3.06 points to WS135.56 (a round trip TCE basis Houston/Rotterdam of $27,975/day).
Did you Subscribe to our daily newsletter?
It’s Free Click here to Subscribe!
Source: Baltic Exchange
