Clean

LR2
LR2’s in the MEG saw the inevitable spike this week. The TC1 75kt MEG/Japan index sailed up 91.95 points to WS211.39. A TC20 90kt MEG/UK-Continent trip also went from $3.56mill to $5.17mill.

West of Suez, Mediterranean/East LR2’s also ticked up $251,000 over the $3mill mark to $3.12mill for a TC15 index run.

LR1
MEG LR1’s also shot upwards this week. The TC5 55kt MEG/Japan index went from WS142.19 to WS218.13. A voyage west on TC8 65kt MEG/UK-Continent also gained $1,125,020 to $3.91mill.

On the UK- Continent LR1 freight levels held static for the 5th week in a row. The TC16 60kt ARA/West Africa index crept up 1.81 points to WS115.56.

MR
MRs in the MEG also saw their freight spike dramatically this week. The TC17 35kt MEG/East Africa index as a result soared upward by 127.14 points to WS362.14.

UK-Continent MRs were sedate this week. The TC2 37kt ARA/US-Atlantic coast leaked a few points of value across the week, going from WS132.19 to WS120 where it has settled for the last 2 days at time of writing. The Baltic Time Charter equivalent round trip, as a result dipped below $10,000 and currently sits at $9,134.

USG MRs had an appreciation of their own this week. The TC14 38kt US-Gulf/UK-Continent trip went from WS112.86 to WS164.29 by Wednesday only to drop back to WS145.71 the following day. A Caribbean run on TC21, 38kt US-Gulf/Caribbean also ultimately was assessed $100,000 better than the beginning of the week at $717,857.

The MR Atlantic Triangulation Basket TCE went from $20,716 to $24,307 with a stop at $27,409 mid-week.

Handymax
The Mediterranean Handymax of TC6, 30kt Cross Mediterranean, continued along their current path of WS130 for the second week on week. Up on the UK-Continent the TC23 30kt Cross UK-Continent dipped 16.11 points to WS143.89.

VLCC
Continued tensions and escalation of attacks between Israel and Iran have had a major impact on the VLCC market predominantly in the Middle East due to the increased risk and on the back of this markets elsewhere have been boosted. The rate for the 270,000 mt Middle East Gulf to China trip (TD3C) has shot up at least 22 points, with further gains likely, to WS75.8 corresponding to a round-trip TCE of $57,758.

In the Atlantic market, the rate for 260,000 mt West Africa/China (TD15) has risen 16 points to WS68.81 giving a round voyage TCE of just shy of $50,000 per day. In the US Gulf region, the rate for the TD22 route of 270,000 mt US Gulf to China climbed $1,352,500 to $7,462,500 which shows a daily round trip TCE of $35,656.

Suezmax
Suezmax owners have managed to turn things around and see firmer rates on all the Baltic Exchange routes. The rate for the 130,000 mt Nigeria/UK Continent voyage (TD20) regained 12.5 points to WS89.72 meaning a daily round-trip TCE of $35,251. The TD27 route (Guyana to UK Continent basis 130,000 mt) has improved a little over 12.5 points to WS86.94 translating to a daily round trip TCE of about $33,100 basis discharge in Rotterdam. The TD6 route of 135,000 mt CPC/Augusta gained 9 points to WS104.1 giving a daily TCE of around $37,800. In the Middle East, due to the increased tensions and escalation of attacks, the rate for the TD23 route of 140,000 mt Middle East Gulf to the Mediterranean (via the Suez Canal) has increased by 16 points to WS102.5.

Aframax
In the North Sea market for the 80,000 mt Cross-UK Continent route (TD7) the rate eased 2 points to the WS120 level giving a daily round-trip TCE of about $31,700 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000mt Cross-Mediterranean (TD19) is firmer by just over 8 points at WS139.44 (basis Ceyhan to Lavera, that shows a daily round trip TCE of a little over $32,200).

Across the Atlantic, the shorter routes the Baltic Exchange produces has had a yo-yo week with rates climbing on Monday, falling Tuesday, and rising again on Wednesday. Overall, the 70,000 mt East Coast Mexico/US Gulf route (TD26) and the 70,000 mt Covenas/US Gulf route (TD9) has risen about 14-15 points week-on-week to the WS154 level and WS150, respectively. This translates into a daily round-trip TCE of about $32,500 and $30,500.

The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent (TD25) similarly ballooned nearly 20 points on Monday and has now steadily shrunk back to WS143.06, an increase of 5 points overall week-on-week, giving a round trip TCE basis Houston/Rotterdam of a little over $32,100 per day.

Source: Baltic Exchange