This week shows a general fall in the VLCC and Suezmax sectors, while the Aframax sector experienced gains in most routes.
VLCC Market
The Very Large Crude Carrier (VLCC) market saw a decline in rates across all reported routes, though daily earnings remained strong:
- Middle East Gulf to China (TD3C): Rate fell approximately 12 points to WS84.28, with a corresponding daily round-trip Time Charter Equivalent (TCE) of $72,678.
- West Africa/China (TD15): Rate lost 8 points to WS85, yielding a round voyage TCE of $73,487.
- US Gulf to China (TD22): The lump sum rate decreased by over $832,000 to $11,915,000, which translates to a daily round-trip TCE of approximately $73,500.
Suezmax Market
The Suezmax market also slackened during the week:
- Nigeria/UK Continent (TD20): Rate fell about 8 points to WS126.39, giving a daily round-trip TCE of $60,466.
- Guyana to UK Continent (TD27): Rate lost 6 points to WS126.89, resulting in a daily round-trip TCE of about $60,700.
- CPC/Augusta (TD6): Rate moved down 7 points to WS143.39, with a daily TCE of about $73,700.
- Middle East Gulf to the Mediterranean (TD23): Rate eased back to about WS102.5.
Aframax Market
The Aframax sector generally experienced a firming of rates:
- Cross-UK Continent (TD7): Rate gained 7.5 points to just over WS150, giving a daily round-trip TCE of just over $60,800.
- Cross-Mediterranean (TD19): Rate jumped up 17.5 points to WS203.83, showing a daily round-trip TCE of just over $66,500.
- East Coast Mexico/US Gulf (TD26): Rate climbed 12 points to the WS165–167.5 range, with a daily round-trip TCE of just over $39,800.
- Covenas/US Gulf (TD9): Rate firmed 10 points to WS165, translating into a daily round-trip TCE of just over $37,900.
- US Gulf/UK Continent (TD25): Rate rose 11 points to just over WS191, which gives a round-trip TCE of a little over $51,700 per day.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Baltic Exchange
