The tanker market showed a mixed performance this week, with steady gains in some clean product segments, slight corrections in others, and diverging trends across crude carriers. While LR2s and US Gulf MRs posted notable improvements, other sectors like Aframax and VLCC saw softer levels. Below is a breakdown of market activity across major tanker classes.
Clean Tankers
LR2:
In the Middle East Gulf (MEG), LR2s recorded modest improvement. The TC1 75kt MEG/Japan index rose from WS140 to WS147.5, while the TC20 90kt MEG/UK-Continent gained $12,500 to $3.93 million. West of Suez, Mediterranean/East LR2s strengthened, ending the week $20,000 higher at $2.97 million (TC15 Baltic).
LR1:
LR1s in the MEG weakened. The TC5 55kt MEG/Japan index dropped 7.81 points to WS149.69, and TC8 65kt MEG/UK-Continent slipped by $85,735 to $2.97 million. In contrast, UK-Continent LR1s edged higher, with TC16 60kt ARA/West Africa tightening from WS112.5 to WS115.5.
MR:
MEG MR rates held stable, with TC17 easing slightly from WS220.71 to WS217.14. In Europe, MRs fell, with TC2 ARA/USAC dropping to WS110.63, pushing Baltic TCE down 20% to $7,974/day. However, US Gulf MRs surged: TC14 (USG/UKC) jumped to WS249.29, boosting TCE by 30% to $37,541/day. Caribbean voyages (TC21) also saw strong gains, lifting TCE above $62,500/day.
Handymax:
The Mediterranean Handymax (TC6) held steady at WS135, while TC23 Cross UK-Continent gained slightly to WS154.72.
Crude Tankers
VLCC:
Rates softened slightly in the Middle East and West Africa. TD3C MEG/China fell to WS66.5 ($49,034/day), while TD15 WAF/China slipped to WS64.81 ($47,382/day). In contrast, US Gulf-China (TD22) extended gains, climbing $341,111 to $8.14 million ($43,300/day).
Suezmax:
Suezmax markets remained firm but eased from peaks. TD20 Nigeria/UKC fell four points to WS107.78 ($47,800/day), and TD27 Guyana/UKC dipped to WS106.78 ($47,000/day). TD6 CPC/Augusta weakened slightly to WS142.5 ($72,250/day), while TD23 MEG/Mediterranean slipped to WS100.
Aframax:
North Sea Aframax (TD7) slipped to WS140 ($51,300/day). Mediterranean Aframax (TD19) dropped further to WS135 ($30,800/day). On the Atlantic side, rates firmed: TD26 Mexico/USG rose to WS158 ($35,400/day), TD9 Covenas/USG climbed to WS155 ($33,300/day), and TD25 USG/UKC surged to WS168.61 ($42,657/day). Vancouver routes weakened, with TD28 falling to $1.79m and TD29 dropping 11 points to WS115.
This week’s tanker market reflected diverging momentum across segments. Clean tonnage in the US Gulf and LR2s in MEG/Mediterranean showed resilience, while LR1s and European MRs weakened.
Crude tankers posted a mixed picture, with US Gulf and Atlantic Aframax/Suezmax routes holding firm, but MEG and Mediterranean segments softening. The balance between regional demand, available tonnage, and shifting trade flows continues to shape volatility in the global tanker freight market.
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Source: Baltic exchange
