LR2 and LR1 markets showed slight recovery in the MEG, while MR rates dropped across regions. Suezmax and Handymax strengthened, with VLCC and Aframax markets stabilizing. The USG MR market experienced significant declines, especially in the Caribbean, reports Baltic Exchange.
LR2
LR’s in the MEG began showing signs of recovery after some time paused at WS115. TC1 ticked up 10.28 points at the end of the week to WS125.28 and for a trip west on TC20 the index climbed $56,646 to $4.16m.
West of Suez, Mediterranean/East LR2’s on TC15 held stable and was assessed around the $2.8m mark all week.
LR1
In the MEG, LR1’s to the East also saw a little improvement in freight levels this week. The TC5 index 55kt CPP AG/Japan was marked 11.25 points up on this time last week to WS136.88. On the other side of the coin, a voyage west on TC8 lost a little value to currently sit at $3.52m (-$85,000).
On the UK-Continent, the TC16 market didn’t dipped a meagre 0.83 points to WS108.61.
MR
MEG MR’s dropped off a little after peaking at WS241.43 early in the week. The TC17 index as a result was assessed 5 points weaker than last week and currently sits at WS236.41.
UK-Continent MR’s were steady this week. TC2 hovered around the high WS80’s – low WS90’s, ultimately the index dipped by 3%. TC19 followed suit, reaching WS120.63 in the earlier part of the week to tick back up to WS125.63 by the end.
USG MR’s came back under heavy downward pressure this week. TC14 was cut back down to the tune of 66.43 points to WS130.71. TC18 suffered the same fate shedding 66.43 points to WS182.86. For a trip down to the Caribbean on TC21, a 42% cut on freight levels saw the index dip 42.4% to $514,286.
The MR Atlantic Triangulation Basket TCE came off by $11,728 to $17,218.
Handymax
In the Mediterranean, Handymax’s continued their current upturn as the TC6 index climbed 31.95 points to WS158.89.
Up on the UK-Continent, the TC23 held flat this week in the mid WS130’s.
VLCC
The VLCC market ceased the recent decline. The 270,000 mt Middle East Gulf to China trip marginally improved by 1 point to WS56.60 which gives a daily round-trip TCE of $34,839 basis the Baltic Exchange’s vessel description.
In the Atlantic market, the rate for 260,000 mt West Africa/China ended the week 1.5 points up at WS61.11 (corresponding to a round voyage TCE of $39,968 per day), and the rate for 270,000 mt US Gulf/China dipped $97,500 week-on-week to $8,300,000 (a daily round trip TCE of $40,988), although at time of writing $8,100,000 is reported to be on subjects.
Suezmax
Suezmax owners managed to recover recent market rate losses. In West Africa, the 130,000 mt Nigeria/UK Continent voyage (TD20) rose 3 points to WS99.64 (a daily round-trip TCE of $38,250). The TD27 route (Guyana to UK Continent basis 130,000 mt), fared a little better to be on a par with TD20, rising 8 points to WS100, which translates into a daily round trip TCE of $38,300 basis discharge in Rotterdam. In the Mediterranean and Black Sea region, the rate for 135,000 mt CPC/Med had a much better week, climbing 14 points to WS114.70 (showing a daily TCE of $44,964 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) gained a further 1.5 points to WS105.06.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent held steady at WS122.92 (translating to a daily round-trip TCE of just over $26,500 basis Hound Point to Wilhelmshaven).
In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean dipped slightly by 1 point to WS176.94 (basis Ceyhan to Lavera, that shows a daily round trip TCE of about $53,400).
Across the Atlantic, the market fell again. Rates for the 70,000 mt East Coast Mexico/US Gulf (TD26) route and the 70,000 mt Covenas/US Gulf (TD9) route fell 10-11 points each, showing a daily round-trip TCE of $37,705 and $42,536, respectively. The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) recovered 3 points to WS174.44 (a round trip TCE basis Houston/Rotterdam of $41,555 per day).
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Source: balticexchange
