LR2’s in the MEG, after hitting the floor this week, began to optimistically resurge. TC1 is currently sitting at WS132.22 (+11.11) after WS130 has been reported as fixed several times. A run to the UK-Continent on TC20 also improved, seeing the index hop up $287,500 to $3,667,750 ($28,400/day Baltic vessel round trip TCE).
West of Suez, Mediterranean/East LR2’s continued along sluggishly this week. The TC15 index lost $45,000 to $2,770,833.
LR1
In the MEG, LR1’s also took a turn upwards this week. The TC5 index improved 13.43 points to WS151.56 and similarly for a trip to the UK-Continent on TC8, went up over $300,000 to reach $3,235,700.
On the UK-Continent, TC16 held flat again all week in the WS125-127.5 range.
MR
MEG MR’s rebounded with gusto this week seeing the market go through the gears upwards. The TC17 index as a result added 48.57 points to WS265.71 (over $30,000/day round trip TCE).
UK-Continent MR’s were the star of the show this week, seeing TC2 rise to reach WS198.5 (+26.75) and the first time back up at these levels since early June. TC19 followed suit and climbed 29.38 points to WS210.63.
USG MR’s also saw another uptick in freight levels this week. Panama Canal delays were still firmly headlining news in the region. TC14 accrued another 26.67 points and TC18 also climbed 43.34 points to WS254.17. Meanwhile, a run to the Caribbean on TC21 hopped over the $1,000,000 mark to $1,066,667.
The MR Atlantic Triangulation Basket TCE climbed from $27,148 to $36,623.
Handymax
In the Mediterranean, Handymax’s had a welcome 57.23-point boost on the TC6 index to WS196.67
Up on the UK-Continent, Handymax’s were resolute and saw the TC23 index at WS185 all week.
VLCC
The week progressed unhurriedly, with the Middle East to the US Gulf (routing via the Cape/Cape) incrementally dipping to W26.22 (-3.95), while MEG to China is valued at the W46.21 level (showing a round trip TCE of $18,686/day). In the Atlantic, rates for
260,000 mt from West Africa to China are around the WS51 mark (a TCE of $26,347/day round trip) and 270,000 mt US Gulf to China saw a gentle rise of $33,300 to $8,295,000 (a roundtrip TCE of $31,435/day).
Suezmax
In West Africa, there were a few chunks of demand, which caused a modest 3.14-point improvement in rates for the 130,000 mt Nigeria/UK-Continent market to the W67.91 level (a round trip TCE of $13,882/day). Rates for 135,000 mt Black Sea/Med remained level around W75 (a round trip TCE of about $9,924/day). The Middle East market continued along sedate this week and rates for the 140,000 mt Basrah/Med trip still pegged at around W67.5 mark.
Aframax
In the Mediterranean, the market for 80,000 mt Ceyhan/Lavera improved at a little from W101.17 to the W105.33 mark (showing a round trip TCE of $15,770/day).
In Northern Europe, the market for 80,000 mt Cross-North Sea saw some minor softening of rates and is now at the WS95.71 level (a round trip TCE of $2,346/day).
Across the Atlantic, the Caribbean market has been active with rates climbing off the back of that. 70,000 mt from the Caribbean to the US Gulf jumped 19.38 points to W118.44 while the Gulf of Mexico region has also seen a definite positive sentiment. Rates for 70,000 mt from the East Coast of Mexico to the US Gulf gained 21.56 points to W125 (a TCE of about $19,600/day round trip) and the market for 70,000 mt from the US Gulf to UK-Continent improved a meagre 2.82 points to WS118 level (showing a round trip TCE of 19,223,000/day).
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Source: balticexchange
