The Baltic Exchange: Tanker report - Week 31
The Baltic Exchange: Tanker report - Week 31
Clean
LR2
After a positive start this week LR2’s in the MEG look to have topped out for the moment. TC1 came up 10.83 points steadily across the week to WS156.39. TC20 similarly climbed 7.8% incrementally to $3,981,250.
West of Suez, Mediterranean/East LR2’s have seen welcome recharge in freight levels, the $375,000 improvement of the TC15 index to $2,916,667 has taken the Baltic TCE for a run back into positive numbers.
LR1
In the MEG, LR1’s have been notably leading the charge this week in the region. TC5 climbed 20.63 points to WS176.78 and TC8 added £264,500 to rest at £3,278,600.
On the UK-Continent, TC16 pushed upward by surrounding markets and a handful of enquiry saw WS125 fixed and the index rose to WS126.56 (+11.37).
MR
MEG MR’s were subject to some retesting down this week. The TC17 index dipped 12.14 points to WS245.
On the UK-Continent a surge in MR enquiry drove a short burst upwards in freight levels. TC2 peaked beginning of the week and WS170.25 and has since been corrected back down to WS162. TC19 naturally followed suit and after topping out at WS180.63 is currently at WS171.56.
USG MR’s saw downward pressure from a tonnage abundance this week. TC14 has been reported on subject at WS145, with the index pegged at WS143.33. TC18 has dipped 16.67 points to WS208.33. A TC21 voyage has been reported at $850,000 late in the week so no surprises, which is where the index currently sits.
The MR Atlantic Triangulation Basket TCE saw dropped from $30,114 to $27,341.
Handymax
In the Mediterranean, Handymax’s have seen cross Mediterranean freight brought down to WS145, which is where the TC6 index currently lies.
Up on the UK-Continent, TC23 jumped 10 points early in the week to WS183 and has resettled back to WS179.72.
VLCC
The market in the Middle East eased again this week, while the Atlantic rates remained steady. In the Middle East, the rate for 270,000 mt Middle East Gulf to China dipped a further 2.5 points to WS48.50 corresponding to a daily round-trip TCE of $22,200 basis the Baltic Exchange’s vessel description. The 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) shed 1.5 points to WS30.17.
In the Atlantic market, the 260,000 mt West Africa/China rate remained around the WS53 mark, which shows a round voyage TCE of $29,200/day. The rate for 270,000 mt US Gulf/China was reduced by a meagre $32,898 at $8,205,556 (about $31,100/day round trip TCE).
Suezmax
Suezmaxes in West Africa have had another poor showing this week with rates dropping, albeit by only a few points. For 130,000 mt Nigeria/Rotterdam rates shed about 2.5 points to WS65.91 (a daily round-trip TCE of $12,800). In the 135,000 mt CPC/Med market, rates have fallen further, losing 7.5 points this week to WS81.55 (showing a daily TCE of $16,100 round-trip). In the Middle East, the rate for 140,000 mt Basrah/Lavera dipped early in the week to close to WS50 but have since returned to levels seen last Friday at WS58.
Aframax
In the North Sea, the rate for the 80,000 mt Hound Point/Wilhelmshaven dropped about 20 points to WS100 (showing a round-trip daily TCE of $6,300). In the Mediterranean, the rate for 80,000 mt Ceyhan/Lavera continued on a downward spiral, losing 13.5 points this week to WS87.94 (a daily round trip TCE of $6,500).
Across the Atlantic, in the Stateside Aframax market, rates continued to tumble with owners fighting for the shorter voyages that maintain their eligibility for trans-Atlantic trips later in August. The rate for 70,000 mt East Coast Mexico/US Gulf lost a further 27 points to WS105 (which shows a TCE of $10,300/day round trip) and for 70,000 mt Covenas/US Gulf the rate has been reduced by another 26 points to WS100.94 (a round-trip TCE of about $10,000/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/Rotterdam is now six points lower than a week ago at WS120.94 (a round trip TCE of $22,500/day).
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