Weekly Tanker Report – Week 11, 2022


The Baltic Briefing has issued the tanker report for the 11th week of this year. The report dated 18th March 2022 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.


The BCTI held up just over the 1000 mark this week with high bunker prices (albeit not quite so high as last week) still playing a leading role.

Middle East Gulf

In the Middle East Gulf, freight levels seem to have stalled and then have been tested down on all sizes this week.

The LR2s of TC1, 75k Middle East Gulf / Japan, have come down to WS180 (-14.29), a round-trip TCE of $26,564 /day.

LR1s have also seen a similar downward trend with TC5, 55k Middle East Gulf / Japan, dipping 14.28 points to WS192.68.

On a trip to the West, TC8 is still holding over the $3m level for the moment. The MRs of TC17, 35kt Middle East Gulf / East Africa, came off 29.16 points to WS240.42 – a round-trip TCE of $14,626 / day.

West of Suez

West of Suez, on the LR2s, TC15 80k Mediterranean / Japan, have been subject to softening sentiment this week, currently pegged around $3m.

The LR1s of TC16 60k Amsterdam / Offshore Lomé held stable this week with WS155 being repeated.

The UK-Continent

On the UK-Continent, MRs saw the TC2 (WS180.83) and TC19 (WS194.64) delta expand this week from its customary five points. We understand owners are currently less willing to end up in West Africa due to high bunker prices and repositioning costs.

US Gulf MRs

US Gulf MRs appear to have been suffering from subdued activity this week. Subsequently TC14, 38k US Gulf / UK-Continent, dropped to WS 188.93 (-8.57) and TC18 the MR US Gulf / Brazil run also came off to WS230 (-10).

Baltic Handymax

Baltic Handymax vessels on TC9 have crept up this week from WS385 to WS390, where they look to have settled for the moment.


In the Mediterranean TC6 30kt Skikda / Lavera has seen tonnage availability increase this week and subsequently the run has been tested down to around the WS230 mark.


The markets continue to settle back down after the Russian invasion of Ukraine three weeks ago.

280,000mt Middle East Gulf/USG

For 280,000mt Middle East Gulf/USG (via Cape of Good Hope) the latest assessment is another two-points lower at WS20.5.

270,000mt Middle East Gulf/China

Meanwhile, in the 270,000mt Middle East Gulf/China market, rates had seven points chipped away to WS38.5 level (a round-trip TCE of minus $9,700 per day).

260,000mt West Africa/China

In the Atlantic region the 260,000mt West Africa/China route had four points chopped out and is now rated at WS41 (minus $6,200 per day round-trip TCE).

The only reported fixture is a French Oil Major, which is claimed to have taken a vessel for a West Africa trip Far East voyage at WS44 (with West options a little higher) at the beginning of the week.

270,000mt US Gulf/China

The 270,000mt US Gulf/China route has lost a further $306,250 since last week and is now valued at a touch above $5m (a round-trip TCE of minus $7,000 per day).


135,000mt Novorossiysk/Augusta

Rates for the 135,000mt Novorossiysk/Augusta route dropped 44 points to WS211 (a round-trip TCE of $93,900 per day) with very little reported activity.

130,000mt Nigeria/UKC

The rates for 130,000mt Nigeria/UKC have settled at the WS77.5/80 level (a round-trip TCE of $3,700 per day).

140,000mt Basrah/West Mediterranean route

For the 140,000mt Basrah/West Mediterranean route, charterers were able to again draw owners down a further two points to just above WS46, with reports this morning detailing Delta Tankers on subjects to Saras at this level.


80,000mt Ceyhan/Mediterranean market

The 80,000mt Ceyhan/Mediterranean market dipped five points earlier in the week and rates have recovered to show a weekly change of 0.5 points at WS130 (a round-trip TCE of $14,800 per day).

80,000mt Hound Point/UK Continent

In Northern Europe, the rate for 80,000mt Hound Point/UK Continent has slipped 7.5 points to WS125 (a round-trip TCE of $11,500 per day).

100,000mt Primorsk/UK Continent

Meanwhile, rates for the Russian loading route of 100,000mt Primorsk/UK Continent steeply fell by 42 points to WS517.5 (a round-trip TCE of $245,100 per day).

However, reports this morning have a Delta Tankers vessel on subjects to a Chinese charterer at WS375, with an option to the Mediterranean at WS300.

70,000mt EC Mexico/US Gulf

On the other side of the Atlantic, the market slipped further for the shorter haul voyages; 70,000mt EC Mexico/US Gulf fell 11 points to WS147.5 (a round-trip TCE of $14,500 per day).

70,000mt Caribbean/US Gulf rates

70,000mt Caribbean/US Gulf rates fell six points to just below WS145 (a round-trip TCE of $10,800 per day).

70,000mt US Gulf/UK Continent

For the longer-haul transatlantic route, the rate for 70,000mt US Gulf/UK Continent has plateaued at WS135 ($9,700 per day round-tip TCE, or a much higher figure basis one-way economics).

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Source: Baltic Exchange


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