Weekly Tanker Report – Week 44, 2021

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The Baltic Exchange has released a report about the dry bulk market for the 44th week of shipping activities of this year. The report dated 05th November highlights the dry bulk market conditions at the on-sight of the 44th week.

VLCC

Rates slipped slightly in both the Middle East Gulf and Atlantic regions.

280,000mt Middle East Gulf to USG

For the 280,000mt Middle East Gulf to US Gulf (Cape/Cape routing) trip rates are assessed half a point less than a week ago, at around the WS22 mark.

270,000mt Middle East Gulf to China

The rate for 270,000mt Middle East Gulf to China is now 1.5 points, at just under WS45 (a roundtrip TCE of $3.9k/day).

260,000mt West Africa to China

In the Atlantic, rates for 260,000mt West Africa to China dipped by a point to WS47 (a TCE of $7.5k/day roundtrip).

270,000mt US Gulf to China

270,000mt US Gulf to China is down $56,250 at $5.5m (a TCE of $9k per day roundtrip).

Suezmax

130,000mt Nigeria/UK Continent rates

In West Africa the market was steady with the rate for 130,000mt Nigeria/UK Continent being maintained at just over WS76 (showing a roundtrip TCE of about $9.2k/day).

135,000mt Black Sea/Med rates

The rate for 135,000mt Black Sea/Med rose two points to the WS87 level (a TCE roundtrip of $9k per day).

140,000mt Basrah/Lavera

The Middle East/Mediterranean market was been quiet compared to recent weeks and the rate for 140,000mt Basrah/Lavera is now assessed three points off from a week ago at just below WS45.

 Aframax

80,000mt Ceyhan/Lavera rates

In the Mediterranean, charterers have been able to take a grip of the market and rates for 80,000mt Ceyhan/Lavera have been reduced by about eight points to the mid-point of the WS127.5/130 region ($17.2k per day TCE roundtrip).

80,000mt Cross-North Sea

Conversely, in Northern Europe, the market for 80,000mt Cross-North Sea has increased by about six points to between WS120/122.5 (a TCE of about $10.1k/day) and 100,000mt Baltic/UK Continent gained four points to nearly WS92.5 (a TCE of about $11.7k per day roundtrip).

70,000mt US Gulf/UK Continent

Across the Atlantic, the market-easing continues with the rate for 70,000mt US Gulf/UK Continent losing another couple of points to around the WS105/107.5 mark (a TCE of $6k/day roundtrip).

70,000mt Caribbean/US Gulf rate

The 70,000mt Caribbean/US Gulf rate shed about 6.5 points to just below WS132 (a TCE of $11.8k/day roundtrip).

70,000mt East Coast Mexico/US Gulf

70,000mt East Coast Mexico/US Gulf is seven points down on last week at WS135 ($14.4k/day TCE roundtrip).

Clean

A mixed bag in the Middle East Gulf this week.

  • On the LR2s TC1 peaked at WS117.5 in midweek then resettled at WS110, a round-trip TCE of $7898/day.
  • The LR1s have held stable by comparison and TC5 55k Middle East Gulf / Japan is down 3.36 points to WS1124.64 a round-trip TCE of $7855/day.
  • The MRs have been under pressure from less activity than previous weeks and 35k Middle East Gulf / East Africa (TC17) is now WS182.08 (-WS 12.92).

Mediterranean Handy market

The Mediterranean Handy market has seen a freight level delta open up this week based on tonnage situation differing in East vs West Med.TC6 30kt Skikda / Lavera is now at WS 136.31 (- WS 6.94). The LR2s, TC15 80k Mediterranean / Japan have shown a further upside and now sit at $1.9875m.

Baltic Handy market

The Baltic Handy market has seen softening pressure creep in this week, as a result of a growing tonnage list and the weaker MR market. TC9 30k Baltic / UK-Continent is now WS 140 (- WS 12.5)

UK-Continent MRs

On the UK-Continent MRs, a buildup of prompt vessels has eroded freight rates this week. TC2 37k UK-Continent / US Atlantic Coast dropped WS17.77 to WS111.67. TC19 37k Amsterdam to Lagos has followed suit and is currently marked at WS114.29 (- WS17.5).

LR1s, TC16 60k Amsterdam / Offshore Lome

On the LR1s, TC16 60k Amsterdam / Offshore Lome has had encouraging signs with rates pushing up off the back of demand for the vessel size in the Uk-Continent and Mediterranean. The run is now pegged at WS111.43 – up 10.72 points.

Americas

In the Americas the MR market has again shown a consistently firming sentiment this week. TC14 38k US Gulf / UK-Continent jumped to WS 128.93 (+WS 27.5) and TC18 38k from US Gulf / Brazil surged 40 points to WS183.21.

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Source: Baltic Exchange

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