VLCC and Suezmax Rates Fall While Aframax Shows Mixed Trend

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Mfame Editor
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185

The VLCC market softened this week, with rates falling in both Eastern and Atlantic regions, while Suezmax rates also saw a general softening across major routes.

VLCC Market Movements

The VLCC market softened this week, with rates falling in both Eastern and Atlantic regions.

  • Middle East Gulf to China (TD3C): The rate for the 270,000 mt trip dropped by 18 points to WS81.89. This translates to a daily round-trip Time Charter Equivalent (TCE) of $68,146.
  • West Africa to China (TD15): The 260,000 mt route softened by 13 points to WS80, yielding a daily round voyage TCE of $65,910.
  • US Gulf Region: The rate decreased by over $1,100,000, just breaking through the $10,000,000 mark, which corresponds to a daily round-trip TCE of approximately $60,229.

Suezmax Sector Performance

Suezmax rates also saw a general softening across major routes.

  • Nigeria to UK Continent (TD20): The 130,000 mt voyage fell by 9.44 points to WS97.5, resulting in a daily round-trip TCE of $42,117.
  • Guyana to UK Continent (TD27): The 130,000 mt route lost 10.58 points to close at WS96.61, which means a daily round-trip TCE of $41,223.
  • CPC to Augusta (TD6): The 135,000 mt route softened slightly by 2.56 points to rest at WS139.44, giving a daily TCE of about $69,972.
  • Middle East Gulf to Mediterranean (TD23): The 140,000 mt route via the Suez Canal fell by 1.89 points to WS101.

Aframax Rate Changes

The Aframax sector presented a mixed picture, with gains in the North Sea and Mediterranean but decreases across the Atlantic routes.

  • North Sea (TD7): The 80,000 mt Cross-UK Continent route gained 5.42 points to WS138.75, resulting in a daily round-trip TCE of close to $49,065 (Hound Point to Wilhelmshaven basis).
  • Mediterranean (TD19): The 80,000 mt Cross-Mediterranean route also gained 6.22 points to WS149.33, showing a daily round-trip TCE of about $37,388 (Ceyhan to Lavera basis).
  • East Coast Mexico/US Gulf (TD26): The 70,000 mt route lost 21.67 points to WS146.11, giving a daily round-trip TCE of $30,367.
  • Covenas/US Gulf (TD9): The 70,000 mt route decreased by 20.22 points to WS143.22, translating to a daily round-trip TCE of just over $29,234.
  • Trans-Atlantic (TD25): The 70,000 mt US Gulf/UK Continent route decreased by 16.39 points to WS150, giving a round-trip TCE of $36,483 per day (Houston/Rotterdam basis).
  • Vancouver Exports: The Vancouver to China route (TD28) fell back $200,000 to $2,750,000, while the Vancouver to Pacific Area Lightering point (TD29) rose 6.25 points to WS185.

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Source: Baltic Exchange