Weekly Tanker Report – Week 8, 2022


The Baltic Briefing has issued the tanker report for the 8th week of this year. The report dated 25th February 2022 provides valuable insight into this week’s tanker market dealings, freight rates, and charter activities.


An upturn all around for the VLCC this week.

Middle East markets

In Middle East markets, Rates for 280,000mt Middle East Gulf/USG (via Cape of Good Hope) came up to 19.5 level, while on the 270,000mt Middle East Gulf/China route rates climbed consistently all week to WS38.82 (which shows a round trip TCE of minus $5,800 per day). At the time of writing WS39 is reported on subjects a couple of times.


In the Atlantic, the 260,000mt West Africa/China trip followed a similar pattern of freight level rise all week and presently sits at WS41.18 (a round-trip TCE of minus $2,504 per day). A widely reported VLCC fixture for USG/Korea at $4.95m looks to have led the 270,000mt US Gulf/China trip to be assessed at $775,000 – higher than a week ago, presently at $5.1875m (a round-trip TCE of minus $1,778 per day).


Rates had begun to increase gradually, spiking at the end of the week. TD20, 130,000mt Nigeria/UKC ended up at the WS75 level (a round-trip TCE of approx. $5,800 per day) and TD6 135,000mt Black Sea/Augusta route jumped to WS97.78 (+27.34) (a round-trip TCE of $16,630 per day). In the Middle East Gulf TD23, 140,000mt Basrah/West Mediterranean came up from WS29.69 to WS35.


The 80,000mt Ceyhan/Mediterranean rose to WS125.31 (+21.62) (a round-trip TCE of $15,514 per day. In Northern Europe the rate for 80,000mt Hound Point/UKC is 36.56 points higher than last week at WS133.44 (a round-trip TCE of $21,710per day). The 100,000mt Baltic/UKC market had the greatest hike of the week of +WS207.5 to WS290 (a round-trip TCE of $121,741 per day).

On the other side of the Atlantic, the market looks to have plateaued this week 70,000mt EC Mexico/US Gulf was steadfast around the WS160 mark (+/- 2.5 points) a round-trip TCE of around $24,000 per day. On TD9 the 70,000mt Caribbean/US Gulf route, dipped midweek to WS150 but has now returned to around the WS155 mark returning a round-trip TCE of $17,250 per day.

For the transatlantic route, the rate for 70,000mt US Gulf/UK Continent having started the week fixing in the mid WS130s paused at last done levels ($12,600 per day round-tip TCE, which becomes a considerably improved figure basis one-way economics).


In the Middle East Gulf this week the TC1 has begun to show higher freight levels on the LR2s, which are currently marked at WS76.43 and on an upward trend. The LR1s have been active and TC5 55k Middle East Gulf / Japan with more enquiry has seen levels hop up and break the WS100 barrier to WS102.14. The MRs this week saw TC17 retested back up to WS200.42 (-WS3.75), with the round trip TCE at $10,249/day.

West of Suez, The LR2s, TC15 80k Mediterranean / Japan have had another flat week with little open enquiry and remain at the $1.85m mark for the moment.

The LR1s, TC16 60k Amsterdam / Offshore Lomé again dropped through lack of activity and are currently around the WS100 mark.


On the UK-Continent, MR freight levels have crumbled as the week has gone on. TC2 37k UK-Continent / US Atlantic Coast dropped 23.33 points to WS145, a round trip TCE of $4695/day. TC19 37k Amsterdam to Lagos has, as usual, followed suit. It fell 25.71 points to WS149.29 (a round trip TCE of $6803/day).


The Americas have seen another week of improvement of freight with both MR routes once again showing a consistently firming sentiment. TC14 38k US Gulf / UK-Continent is now WS 136.79 (+WS11.08) and TC18 38k from US Gulf / Brazil WS 189.29 (+7.86) a round trip TCE of $14,029/day.

The MR Atlantic basket TCE fell from $15,658/day to $14,618/day.

Baltic Handymax market

The Baltic Handymax market jumped at the beginning of the week TC9 30k Baltic / UK-Continent is now WS232.86 (+22.86) for the moment.

Mediterranean Handymax rates

In the Mediterranean, Handymax rates have been edging upwards again all this week. TC6 30kt Skikda / Lavera is now up at WS262.5 (+WS9.06).

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Source: Baltic Exchange

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