Weekly Tanker Report – Week 35, 2021


The Baltic Exchange has released a report about the dry bulk market for the 35th week of shipping activities of this year. The report dated 03rd September highlights the dry bulk market conditions at the on-sight of the 35th  week.


There were a few spot market deals and more contract of affreightment fixtures this week which has had a slightly positive impact on market rates in the Middle East Gulf region.

280,000-mt to US Gulf

The rate for 280,000-mt to US Gulf (routing via the Cape/Cape) remains steady at the WS18 mark.

270,000-mt to China

270,000-mt to China saw about a two point gain to just shy of WS34 (a round trip TCE of $-2,000 per day).

260,000-mt West Africa to China

In the Atlantic, despite a lack of reported fixing activity, rates for a 260,000-mt West Africa to China modestly improved by half a point to WS34-34.5 level (a round trip TCE of $-350 per day).

270,000-mt US Gulf to China

A 270,000-mt US Gulf to China marginally rose $6,000 to $3.97 million although Vitol is reported to have taken a modern Omani vessel (recently employed for the carriage of clean petroleum products) at $3.95 million.


In West Africa the short week has stifled the recent gains and rates have dipped slightly. A 130,000-mt Nigeria/UK Continent is now worth WS55 (a round trip TCE of almost $2,000 per day), two points less than a week ago.

135,000-mt Black Sea/Mediterranean

Rates for 135,000-mt Black Sea/Mediterranean eased 1.5 points to WS62 (a TCE round trip of $-4,400 per day).

140,000-mt Basrah/Mediterranean

The Middle East market was again quiet this week with rates for 140,000-mt Basrah/Mediterranean holding at the WS25-26 level.


80,000-mt Ceyhan/Lavera

In the Mediterranean, an 80,000-mt Ceyhan/Lavera remains at the WS87.5 mark (about $2,000 per day TCE roundtrip).

80,000-mt Cross-North Sea

In Northern Europe 80,000-mt Cross-North Sea held at the WS92.5-93 region (a round trip TCE of $-4,700 per day).

100,000-mt Baltic/UK Continent

Rates for 100,000-mt Baltic/UK Continent were stagnant at the WS59-60 level (a TCE of about $-2,000 per day round trip).

70,000-mt Caribbean/US Gulf

Across the Atlantic, the market has seen a bad weather induced improvement with rates for 70,000-mt Caribbean/US Gulf between WS105-107.5 (a TCE of $6,4000 per day round trip).

70,000-mt East Coast Mexico/US Gulf

70,000-mt East Coast Mexico/US Gulf fixing a good number of times, rising 30 points to WS112.5 (a round trip TCE of $9,600 per day).

70,000-mt US Gulf/UK Continent

Rates for 70,000-mt US Gulf/UK Continent have also seen a climb, up 13 points week-on-week to WS92.5-95 level (a TCE of $5,000 per day round trip, which improves significantly for a one-way trip).


The Middle East Gulf has seen continued activity this week on all sizes.

LR2s to Japan (TC1)

LR2s to Japan (TC1) have risen another five points to WS115, a round-trip TCE of $12,518 a day.

LR1’s readjusted

The LR1’s have readjusted as ship availability has increased this week and TC5 55k Middle East Gulf/Japan now in the WS125 region, a round-trip TCE $11,500 a day.

MR 35k Middle East Gulf/East Africa (TC17)

The MR 35k Middle East Gulf/East Africa (TC17) has had consistent momentum this week from high demand in the region.

Rise in freight rates

Freight rates have subsequently risen by 21 points to WS222, a round-trip TCE of $15,435 a day.

Mediterranean Handy market

The Mediterranean Handy market has seen rates erode further this week due to an oversupply of tonnage in the region and TC6 30kt Skikda/Lavera is now at WS112.5 (-WS2.19).

Middle East LR2 activity

The LR2’s still remain to be properly tested following the LR2 activity in the Middle East this week, TC15 80k Mediterranean/Japan currently marked around $1.7 million.

Baltic Handy market

A much-needed boost in the Baltic Handy market this week and rates have surged from an influx of new enquiry and a lack of vessels in the region.

TC9 30k Baltic/UK-Continent

TC9 30k Baltic/UK-Continent rose to WS143.57 (+ WS23.57). On the UK-Continent MR freight levels have tumbled.

TC2 37k UK-Continent / US Atlantic Coast

The TC2 37k UK-Continent / US Atlantic Coast is now at WS109.17 (down WS6.39), showing a round-trip TCE of $1713 a day.

There are reports of lower freight levels expected shortly with more vessels ballasting over from the USA.

TC19 37k Amsterdam to Lagos

TC19 37k Amsterdam to Lagos has unavoidably followed suit and is now WS114.17 (down WS8.33).

TC16 60k Amsterdam/Offshore Lomé

On the LR1s, TC16 60k Amsterdam/Offshore Lomé levelled out at the WS85 mark following an incremental rise to WS87.5 in the middle of the week. 

Americas rates

In the Americas rates have continued to degrade due to liquidity being thin in the region this week, a result of Hurricane Ida, and there are not many signs of this changing in the short term.

TC14 38k US Gulf/UK-Continent route

TC14 38k US Gulf/UK-Continent route now at WS60 (-WS13.57).

TC18 35k from US Gulf/Brazil

TC18 35k from US Gulf/Brazil, correlated accordingly to end up at WS95.42 (down W8.75).

MR Atlantic basket

The MR Atlantic basket TCE dropped from $4695 a day to $2019 a day.

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Source: Baltic Exchange


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