Weekly Tanker Report – Week 26, 2023

Credits: REUTERS/Yoruk Isik

Baltic Exchange has issued the tanker report for the 26th week of this year. This report of 16th June 2023 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.



MEG LR2’s have fluctuated up and down this week as the region has had to deal with the Eid holidays. TC1 peaked at WS127.22 midweek (+11 points from Monday) to then resettle back down to WS117.5 at time of writing. Similarly, TC20 peaked at $3,559,000, up from $3,325,0000, and is now back down at $3,343,000.

West of Suez, Mediterranean/East LR2’s have continued to trundle along around the $2,500,000 – $2,600,000 mark all week.


In the MEG, LR1’s followed a similar pattern of their larger siblings. TC5 after bubbling around the mid WS150’s has started to come down and is currently pegged at WS149.06. Likewise, TC8 has ultimately dipped from $2,933,000 to $2,832,000.

On the UK-Continent, TC16 has not deviated from its current course and still sits in the low WS120s, with a notable lack of activity at the moment.


MEG MR’s have been retested down this week, seeing the TC17 index shed 41.07 points to WS188.93.

After a slow start, a large chunk of enquiry mid-week stimulated some upward movement the UK-Continent MR’s. TC2 hopped up to WS140.25 (+15.25) and TC19 similarly added 16.88 points to WS151.88.

USG MR’s have accelerated upwards this week, with a pre-Independence Day rush being regularly cited as the reason. The momentum has taken TC14 up 32.5 points to WS140 and TC18 to WS222.5 (+41.67). A run to the Caribbean on TC21 also shot up $210,000 or 30% this week to $909,167.

The MR Atlantic Triangulation Basket TCE climbed from $18,087 to $26,519.


Mediterranean Handymax’s, after ticking up to WS145 end of last week, have plateaued there this week.

Up on the UK-Continent, TC23 has been chipped away at this week and we have seen the index dip from WS135 to WS122.78.


A fairly quiet week as owners and charterers took stock of last week’s activity. Rates continued sliding downwards, although on Thursday it seems a floor was found and started a gentle climb, regaining a solitary point from Wednesday. In the Middle East, the rate for 270,000mt Middle East Gulf to China lost two points since last Friday at WS51.71 (a round trip TCE of $29,700/day basis the Baltic Exchange’s vessel description), while the 280,000mt Middle East Gulf to US Gulf trip (via the cape/cape routing) is now rated about half a point lower at WS35.61.

In the Atlantic market, the rate for 260,000mt West Africa/China dropped three points week-on-week to WS52.70 (which shows a round voyage TCE of $31,800/day). The rate for 270,000mt US Gulf/China is now assessed $1,283,333 less than last Friday at $8,088,889 (about $33,000/day round trip TCE).


Suezmaxes have had a quiet week, with sentiment driving rates downwards. In West Africa, the lack of firm enquiry combined with available tonnage building up led to lower rates. On Thursday an Angola/Europe cargo received almost a dozen offers and ended up fixing at WS95, although for 130,000mt Nigeria/Rotterdam the rate has dropped 17.5 points to WS102.5 (a daily round-trip TCE of $40,900). In the 135,000mt CPC/Med market the rate is assessed eight points lower than a week ago at WS112.95 (producing a daily TCE of $45,100 round-trip) and in the Middle East the rate for 140,000mt Basrah/Lavera lost about 6.5 points to WS56.28.


In the North Sea, the rate for the 80,000mt Hound Point/Wilhelmshaven shed five points to WS130.31 (showing a round-trip daily TCE of $37,100) and in the Mediterranean the 80,000mt Ceyhan/Lavera rate lost only a point since last Friday at close to the WS140 mark (a daily round trip TCE of $37,900).

Across the Atlantic, the Stateside Aframax market continued a downward trend. The rate for 70,000mt East Coast Mexico/US Gulf fell 43.5 points to WS148.13 (which shows a TCE of about $35,000/day round trip) and for 70,000mt Covenas/US Gulf the rate has dropped 33.5 points to WS145.31 (which shows a TCE of about $32,300/day round trip). For the trans-Atlantic route of 70,000mt US Gulf/Rotterdam, the rate fell a comparatively modest 7.75 points to WS147.19 (a round trip TCE of $34,000/day).

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Source: Baltic Exchange


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