Clean
The BCTI finished the week at 869, up from 849 the previous week.
Rates for MRs in the US have flattened out slightly following the steady falls experienced since September. TC14: 38k US Gulf / UK-Continent finished the week unchanged at WS87.08. TC18: the MR US Gulf / Brazil came off more gradually from WS177.08 to end the week at WS170 (-WS7.08). TC21: MR US Gulf / Caribbean fared better increasing and peaking at $535,833 (+$19,166).
On the UK-Continent, MRs freight levels have been steadily increasing with TC2: 37k UK-Continent / US Atlantic Coast finishing the week at WS192.25, (+WS13.75). TC19: 37k Amsterdam to Lagos, followed suit and finished at WS201.88 (+WS13.13).
The recent September gains on the LR1’s of TC16 60k Amsterdam / Offshore Lomé flatted out over the course of the week finishing at WS165.63 (-WS2.5).
West of Suez, on the LR2’s, TC15: 80k Mediterranean / Japan, continued to remain steady, ending the week at $2,945,833, a small gain of $33,333 from the week before.
In the Middle East Gulf freight rates for LR’s have softened with TC1: 75k Middle East Gulf / Japan, falling from WS141.11 to finish the week at WS135.28 (+WS5.83) a round trip TCE of $26,326/day. This has had a knock-on effect on MRs with TC17: 35kt Middle East Gulf / East Africa, showing losses resulting in a decrease of WS26.42 points to WS264.29 a round trip TCE of $29,974/day.
LR1’s have also seen a similar losses over the last week with TC5: 55k Middle East Gulf / Japan, steadily decreasing WS7.19 to WS162.19. TC8: Middle East Gulf / UK Contintent, again rates softened slightly throughout the week finishing at $51.70/mt (a lumpsum equivalent of $3.36 million).
VLCC
The market saw a turnaround in rates across the board, which started in earnest midweek. The rate for 270,000 mt Middle East Gulf to China climbed 12 points to WS49.88 corresponding to a daily round-trip TCE of $21,852 basis the Baltic Exchange’s vessel description. The 280,000 mt Middle East Gulf to US Gulf trip (via the Cape/Cape routing) was assessed 3.5 points higher at WS26.89.
For the Atlantic market, the 260,000 mt West Africa/China rate rose eight points to WS51.65, which shows a round voyage TCE of $25,192/day. The rate for 270,000 mt US Gulf/China climbed $883,333 to $8,094,444 ($27,843/day round trip TCE).
Suezmax
Suezmaxes in West Africa continue to struggle, with the rate for the 130,000 mt Nigeria/Rotterdam trip losing another 11 points to WS66.82 (a daily round-trip TCE of $11,949). In the Mediterranean and Black Sea region, the 135,000 mt CPC/Med route was held again at the WS72.5-73 level (showing a daily TCE of $7,566 round-trip). In the Middle East, the rate for 140,000 mt Basrah/Lavera increased by two points to WS61.61.
Aframax
In the North Sea, the rate for the 80,000 mt Hound Point/Wilhelmshaven route slipped back four points to the WS90 region (showing a negative round-trip daily TCE of about -$2,800). In the Mediterranean market, the rate for 80,000 mt Ceyhan/Lavera showed signs of a recovery, climbing 24 points by the end of Thursday to WS108.61 (a daily round trip TCE of $16,800), and the climb will likely continue with overnight reports of WS112.5 being on subjects for a TD19 trip.
Across the Atlantic, in the Stateside Aframax market, a different story unfolds with the rate for 70,000 mt East Coast Mexico/US Gulf losing 11 points to WS80 (which shows a negative TCE of -$3,300/day round trip) and for 70,000 mt Covenas/US Gulf the market rate was reduced 10 points to WS90.71 (a round-trip negative TCE of -$377/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/Rotterdam shed another 10 points this week to settle at WS90 (a round trip TCE of $7,045/day).
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe
Source : balticexchange
