MR

The TC17 35kt MEG/East Africa index held flat this week around the WS725-730 level continuing to generate $89,500/day on Baltic description round trip TCE.

On the UK-Continent, MR freight levels were challenged downward again this week. The TC2 37kt ARA/US-Atlantic Coast index was assessed 30 points lower than last week at WS177, with the Baltic TCE for the round trip now at $9,000/day (down 41% from last week).

In the US Gulf, MR freight levels appeared to have reached a floor this week. The TC14 38kt US Gulf/UK-Continent run consistently published around the WS155 level with the Baltic round trip TCE for the run now at $6,900/day. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean also levelled off at a touch over the $500,000 mark and currently sits at $510,000 with the corresponding TCE holding at $4,200/day on Baltic description.

The MR Atlantic Triangulation Basket TCE went from $24,565/day to $21,048/day.

Handymax

In the Mediterranean, Handymax rates improved incrementally this week with the TC6, 30kt Cross-Mediterranean index marked 14 points up to WS344, translating to $59,200/day on Baltic TCE round trip.

The TC23 30kt Cross UK-Continent didn’t budge this week from its current WS312 level which generates $46,900/day on Baltic TCE round trip.

VLCC

The continuing uncertainty due to the ongoing Middle East crisis remains difficult for parties involved in oil shipping. The Baltic panellists assess the rate for the TD3C route (270,000mt Middle East Gulf to China) 45 points lower than last Friday at WS402.5, which corresponds to a daily round-trip TCE of $397,753 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) was assessed on Thursday at WS130.2, almost 6 points lower than last Friday.

In the Atlantic market, the rate for the 260,000mt West Africa to China route (TD15) retracted 8 points also this week, at WS131.56 giving a round voyage TCE of about $96,000, while the US Gulf to China route (TD22) has fallen in the last 7 days by almost $160,000 to $17,538,889 which gives a daily round trip TCE of just short of $106,000.

Suezmax

In the Suezmax sector, the rate for the 130,000mt Nigeria/UK Continent voyage (TD20) trip dipped again, losing 7 points to the WS187 level which translates into a daily round-trip TCE of about $76,400. The TD27 route (Guyana to UK Continent basis 130,000mt) lost about 9 points to the WS185 level, giving a daily round trip TCE of about $76,800. The Baltic route of 145,000mt USG/UKC (TD33), is also weaker, losing 5 points to the WS165 mark.

In the Black Sea, rates for the TD6 route of 135,000mt CPC/Augusta continued to slide down, losing 10 points this week to the WS249 mark, meaning a daily TCE of about $128,500.

Aframax

In the North Sea, the rate for 80,000mt Cross-UK Continent route (TD7) is again lower, losing 7.5 points this week to WS174.58, giving a daily round-trip TCE of about $65,150 basis Hound Point to Wilhelmshaven.

In the Mediterranean, the rate for 80,000mt Cross-Mediterranean (TD19) fell slightly this week, losing 2.5 points to WS173.61 (basis Ceyhan to Lavera, this shows a daily round trip TCE of just over $32,250).

Across the Atlantic, the market continued to fall. The 70,000mt East Coast Mexico/US Gulf route (TD26) fell 29 more points to WS245 giving a daily round-trip TCE of $53,750. The 70,000mt Covenas/US Gulf route (TD9) has lost 25 points to about WS240 (translating into a daily round trip TCE of close to $51,200).

The rate for the transatlantic route of 70,000mt US Gulf/UK Continent (TD25) has fallen by 23 points this week to WS225 which gives a round trip TCE basis Houston/Rotterdam of about $45,400/day.

On the Vancouver exports, the rate for TD28 (80,000mt crude oil Vancouver to China) has continued the slide down, losing $220,000 this week to $4,270,000 (giving a round trip TCE of about $68,300/day) while TD29 (80,000mt crude oil Vancouver to Pacific Area Lightering point off the USWC) has eased 2 points to WS346.

Source: Baltic Exchange