VLCC Rates Fluctuate, Suezmax and Aframax See Varied Trends

By
Mfame Editor
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33

The MEG (Middle East Gulf) LR2 market appears to have peaked in its current freight rate surge, reports Baltic Exchange. 

VLCC

Rates increased at the start of the week but declined towards the end.

  • Middle East Gulf to China (TD3C):
    • The 270,000 mt route saw a 10-point increase from the previous Friday, reaching WS58.75.
    • This translates to a round-trip Time Charter Equivalent (TCE) of $51,536 per day.
  • West Africa to China (TD15):
    • The 260,000 mt route increased by 6.5 points week-on-week, reaching WS66.75.
    • This equates to a round voyage TCE of $49,598 per day.
  • US Gulf to China (TD22):
    • The 270,000 mt route increased by $455,000 since the previous Friday, reaching $7,797,500.
    • This results in a daily round-trip TCE of $40,321.

Suezmax

Suezmax market this week:

  • West Africa to UK Continent (TD20):
    • The 130,000 mt route from Nigeria to the UK Continent decreased by 7 points, reaching WS95.56.
    • This translates to a daily round-trip TCE of $40,980.
  • Guyana to UK Continent (TD27):
    • The 130,000 mt route from Guyana to the UK Continent eased by 1 point, reaching WS95.
    • This equates to a daily round-trip TCE of $40,451, based on discharge in Rotterdam.
  • CPC to Mediterranean (TD6):
    • The 135,000 mt route from CPC to the Mediterranean slipped by 2 points week-on-week, reaching WS129.25.
    • This results in a daily TCE of $62,910 for a round trip.
  • Middle East Gulf to Mediterranean (TD23):
    • The 140,000 mt route from the Middle East Gulf to the Mediterranean (via the Suez Canal) remained relatively stable, around the WS92.5-93 level.

Aframax

Aframax tanker market this week:

  • North Sea (TD7):
    • The 80,000 mt Cross-UK Continent route remained unchanged at WS107.5.
    • This translates to a daily round-trip TCE of just under $25,500.
  • Mediterranean (TD19):
    • The 80,000 mt Cross-Mediterranean route increased by 5 points, reaching WS120.61.
    • This results in a daily round-trip TCE of approximately $29,000.
  • Atlantic:
    • East Coast Mexico/US Gulf (TD26):
      • The 70,000 mt route increased by 7 points, reaching WS135.83.
      • This equates to a daily round-trip TCE of $26,577.
    • Covenas/US Gulf (TD9):
      • The 70,000 mt route increased by 7.5 points, reaching WS132.81.
      • This equates to a daily round trip TCE of $25,166.
    • US Gulf/UK Continent (TD25):
      • The 70,000 mt Trans-Atlantic route increased by 12.5 points, reaching WS145.56.
      • This results in a daily round-trip TCE of $34,697.

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Source: Baltic Exchange