Weekly Tanker Report – Week 25, 2022


Baltic Exchange has issued the tanker report for the 25th week of this year. The report dated 24th June 2022 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.


The Middle East Gulf has suffered muted activity on both the LRs and MRs this week. As a result, freight has been put under pressure, TC1 has dropped 7.86 points to WS292.1 and TC5 has also dipped WS27.15 to WS352.1.

On the MRs TC17 has taken a 50.83 point hit down to WS494.2. Despite this, both LR routes are still returning over $50k /day and the MRs over $45k /day round-trip TCE.

In the West the LR2s of TC15 have fluctuated around the $4.6-4.4.75m mark all week with the market looking relatively untested for the moment. The LR1s have also take a bit of downturn and TC16 after peaking around WS275 has started to crumble and stands at WS259.3 at time of writing.

On the UK-Continent the MRs have seen just enough demand to keep rates stable all week, TC6 has hovered around WS355-360 all week and TC19 around the WS365-370 mark.

The USG MR market has seen supply/demand balanced this week with sentiment still leaning toward the positive. TC14 and TC18 has subsequently rebounded, TC14 rising 29.29 points to WS252.9 and TC18 similarly hopping up 25.71 points to WS366.4. In light of the USG MR rebound, TC2 is holding steadfast and despite the high bunkers the MRA TCE rose from 41,904 to 47,557.


On the Handymax, TC6 has held over the WS500 mark ticking up incrementally to WS512.5 by the end of the week and returning $96k /day round-trip TCE. Most notably in the Mediterranean / Black Sea market this week has been Handymax vessels reported on subjects in excess of WS900. In the Baltic, TC9 has jumped around 50 points this week from improved activity combined with steady demand off the UK-Continent and currently sits at WS497.9.


VLCC rates took another step up this week. 280,000mt Middle East Gulf/USG (via Cape of Good Hope) is assessed almost two points higher in the WS28-28.5 region and rates for the 270,000mt Middle East Gulf/China voyage were up four points to WS49 (a round-trip TCE of minus $14,600 per day).

In the Atlantic markets similar rises were seen with rates for 260,000mt West Africa/China gathering four points to WS50 (minus $11,800 per day round-trip TCE) and the rate for 270,000mt US Gulf/China voyage improving by $618,000 to $6.174m (a round voyage TCE of minus $13,100 per day).


Rates for the 135,000mt Black Sea/Augusta trip held steady this week at around WS130 (a round-trip TCE of $26,400 per day), while the 130,000mt Nigeria/UKC route saw rates three points higher at about WS117.5 (a round-trip TCE of about $19,700 per day).

In the Middle East rates for the 140,000mt Basrah/West Mediterranean modestly rose one point to just break through the WS64 mark.


The 80,000mt Ceyhan/Mediterranean market came under pressure this week and rates fell 15 points to around the WS190 level (showing a round-trip TCE of about $37,000 per day).

Northern Europe

Northern Europe saw increased activity in the North Sea and as a result rates increased by 25 points for 80,000mt Hound Point/UK Continent to almost WS185 (a daily round trip TCE of $40,900) while the 100,000mt Primorsk/UK Cont route remains problematic and rates fell 3.5 points to WS174 (a round trip TCE of $33,200/day).

Atlantic market

Across the Atlantic, the markets were easing back. The 70,000mt EC Mexico/US Gulf route dropped 22 points to WS180 (a round-trip TCE of $9,600 per day) and for the 70,000mt Caribbean/US Gulf route rates have been pared back 19 points to WS157.5 (a round-trip TCE of about $9,500 per day).

For the Transatlantic trip of 70,000mt US Gulf/UK Continent, rates have had 12 points deducted this week to WS160 ($12,800 per day round-tip TCE).

Did you subscribe to our daily Newsletter?

It’s Free! Click here to Subscribe

Source: Baltic Exchange


This site uses Akismet to reduce spam. Learn how your comment data is processed.