MEG LR2’s continued their upward trajectory this week on freight. The TC1 75kt MEG/Japan index climbed another 18 points up to WS141 with the corresponding TCE returns pushing up to $32,600/day basis
VLCC
The VLCC markets strengthened further this week. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) went up by 36.89 points to settle on WS127.83, which corresponds to a daily round-trip TCE of $123,776.
In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) also increased by 27.56 points to WS117.94, giving a round voyage TCE of $110,975. In the US Gulf region, the rate increased by $1,097,000 to settle on the $13,000,000 mark, which shows a daily round trip TCE of about $89,692.
Suezmax
In the Suezmax sector, rates also firmed. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) went up 9.72 points to settle at WS145, which translates into a daily round-trip TCE of $71,425. The TD27 route (Guyana to UK Continent basis 130,000 mt) gained 5.06 points to close at WS141.17, meaning a daily round trip TCE of $68,999. The TD6 route of 135,000 mt CPC/Augusta firmed by 13.17 points to rest at WS159.17, giving a daily TCE of about $85,921. In the Middle East, the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) increased by 4.28 points to WS108.17.
Aframax
In the North Sea, the rate for 80,000 mt Cross-UK Continent route (TD7) gained 5.83 points this week to WS155.83, giving a daily round-trip TCE of close to $64,495 basis Hound Point to Wilhelmshaven. In the Mediterranean, the rate for 80,000 mt Cross-Mediterranean (TD19) made a gain of 0.67 points to WS202.50 (basis Ceyhan to Lavera, showing a daily round trip TCE of about $64,234).
Across the Atlantic, the market continued to make upward moves for the Baltic routes. The 70,000 mt East Coast Mexico/US Gulf route (TD26) gained 70 points to the WS238.33 (giving a daily round-trip TCE of $71,366), and the 70,000 mt Covenas/US Gulf route (TD9) increased by 62.81 points to WS229.69 (translating into a daily round-trip TCE of just over $61,999).
The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) increased by 27.22 points to WS222.5, giving a round-trip TCE basis Houston/Rotterdam of $62,604/day.
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Source: Baltic Exchange
