Baltic Exchange has issued the tanker report for the 29th week of this year. The report dated 23rd Jul 2021 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCC
Rates for 280,000mt to US Gulf
Another week of static rates on the whole in this sector. In the Middle East rates for 280,000mt to US Gulf (routing via the Cape/Cape) remains at the WS18-18.5 level.
270,000mt to China rates
Rates for 270,000mt to China are stuck at around WS31.5 (showing a round-trip TCE of minus $3,200/day).
Rates for 260,000mt West Africa to China
In the Atlantic, rates for 260,000mt West Africa to China are still at WS34.5-35 level (a meagre TCE of $800/day round-trip).
Rates for 270,000mt US Gulf to China
270,000mt US Gulf to China saw an improvement of $118k to $4.08m (a round-trip TCE of $2500/day).
Suezmax
Nigeria/UK Continent market
In the 130,000mt Nigeria/UK Continent market a tightening position list gave owners an opportunity to push rates up and consequently rates gained two points to WS54.5-55 region (a round-trip TCE of about $1,700/day).
Mediterranean rates
Meanwhile in the Mediterranean rates for 135,000mt Black Sea/Med remain pegged at around WS60 (a round-trip TCE of about minus $6,000/day).
140,000mt Basrah/Med
The market for 140,000mt Basrah/Med had another 1.5 points shaved off it at WS26-27 level.
Aframax
Mediterranean market
In the Mediterranean, the market has firmed slightly with rates for 80,000mt Ceyhan/Lavera modestly gaining two points to WS90.
Northern Europe market
In Northern Europe the market again remained steady with the rate for 80,000mt Cross-North Sea being maintained at around WS94 (a round-trip TCE of minus $3,300/day).
Baltic/UK-Continent market
It was a similar story in the 100,000mt Baltic/UK-Continent market with the rate at WS61-62 region (a round trip TCE of about minus $350/day).
Atlantic market
Across the Atlantic the market has eased back as more ships became available in the fixing window.
Caribbean/US Gulf
Rates for 70,000mt Caribbean/US Gulf dropped seven points to between WS77.5-80, (still a negative TCE on round-trip of minus $2,300/day).
East Coast Mexico/US Gulf market
The East Coast Mexico/US Gulf market fell nine points to between WS80-82.5.
US Gulf/UK Continent market
The market for 70,000mt US Gulf/UK Continent saw rates ease 3.75 points to between WS67.5 and WS70.
Clean
The Middle East Gulf suffered a lack of clarity at the beginning of the week which has then been followed by some testing of rates as the week progressed.
LR2s to Japan TC1
On the LR2s to Japan TC1 has come down 2.09 points to WS87.08, a round-trip TCE of $4,818/day.
LR1 TC5 55k Middle East Gulf/Japan
For the moment the LR1’s are following suit with TC5 55k Middle East Gulf/Japan at WS86.43 down WS3.57points, a round-trip TCE $2,474/day.
TC8 Middle East Gulf to Continent
TC8 Middle East Gulf to Continent is relatively untested and flat at $20.27/ton.
MR’s 35k Middle East Gulf / East Africa
For MR’s 35k Middle East Gulf / East Africa (TC17), rates also had a softening down five points to WS130, showing a round-trip TCE of $3,315/day.
Mediterranean market
The Mediterranean market has had another week of non-direction on the Handy size with TC6 30kt Skikda/Lavera consistently around the WS120 mark.
LR2s 80k Mediterranean/Japan
The LR2’s have been tested a little again with TC15 80k Mediterranean/Japan coming out at $1.59m down $10k, showing a round-trip TCE of minus $8,010.
Baltic/UK-Continent
A somber start to the week for the Baltic/UK-Continent, however there are reports of improved activity at the end of the week.
TC9 30k Baltic/UK-Continent currently at WS122.14, which is a round-trip TCE of $2,188/day.
UK-Continent/US Atlantic Coast
TC2 37k UK-Continent/US Atlantic Coast at WS111.67, showing a round-trip TCE of $2,252/day
Amsterdam/Offshore Lome
The LR1’s on TC16 60k Amsterdam/Offshore Lome remained static as WS80, as did TC19 37k Amsterdam to Lagos Ws116.67.
US Gulf to UK-Continent route
Some fluctuations up and down in the Americas this week with TC14 38k US Gulf to UK-Continent route ending up at WS80.71.
35k from US Gulf to Brazil
TC18 35k from US Gulf to Brazil, after an initial rise of 4.5 points ended up settling at WS119.08, showing a round-trip TCE of $5,034/day.
MR Atlantic basket TCE
The MR Atlantic basket TCE rose from $3814/day to $5420/day.
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Source: Baltic Exchange
