The Baltic Exchange: Tanker report – Week 47
The Baltic Exchange: Tanker report – Week 47
Clean
LR2
LR’s in the MEG have regained some strength this week. The 75kt MEG/Japan TC1 index rose almost 10 points to WS133.61 (about $25,000/day TCE). The 90kt MEG/UK-Continent TC20 run to the UK-Continent also recovered, rising almost $200,000 to over $3.6m.
West of Suez, Mediterranean/East LR2’s on TC15 added another $25,167 to be last assessed at a little above $3.625m.
LR1
In the MEG, LR1 freight levels did not follow the bigger units. The rate for 55kt MEG/Japan (TC5) dropped another six points to WS126.25. For the 65kt MEG/UK-Continent (TC8) market, the rate has fallen from $2.96m to $2.9m.
On the UK-Continent, the 60kt ARA/West Africa (TC16) market has had another positive week, with the rate 11 points firmer at WS200.81, which translates to a round trip daily TCE of just shy of $44,500.
MR
MRs in the MEG lost its recent momentum. For 35kt MEG/East Africa (TC17) the rate fell seven points to WS202.86.
UK-Continent MRs continued on their downward trend this week. The 37kt ARA/US-Atlantic coast of TC2 dropped six points to WS126.25 (a round trip TCE about $20,300/day). In comparison TC19 (37kt ARA/West Africa) only lost 2.5 points to be marked at WS197.50.
The USG MR market had a three-day-week due to the Thanksgiving holiday, however the rates were steeply climbing until Wednesday. TC14 (38kt US-Gulf/UK-Continent) has powered on another 28 points to WS245 (a daily round-trip TCE of over $35,000). The 38kt US Gulf/Brazil on TC18 also added 28 points to be assessed at WS335.70 and for the 38kt US-Gulf/Caribbean TC21 trip the rate improved more than $50,000 to just over $1.8m.
Handymax
In the Mediterranean, Handymax’s had yet another upturn this week with TC6 improving by 10 points to WS295.56.
In northwest Europe, the TC23 30kt Cross UK-Continent route increased modestly by five points to WS178.89.
VLCC
The market turned back down this week, although at the time of writing, the latest bottom has been found and owner’s sentiment has improved with the tonnage list once again looking tighter. The rate for 270,000 mt Middle East Gulf to China lost eight points to WS65.91, which corresponds to a daily round-trip TCE of $43,697 basis the Baltic Exchange’s vessel description. The 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) is now assessed 2.5 points lower at WS36.
In the Atlantic market the rate for 260,000 mt West Africa/China has been reduced by five points to WS67.22 (which shows a round voyage TCE of $45,733/day) while the rate for 270,000 mt US Gulf/China is $118,889 softer than a week ago, at $10,070,000 ($44,852/day round trip TCE).
Suezmax
Suezmaxes in West Africa had a relatively static week. The rate for 130,000 mt Nigeria/UK Continent improved marginally by 1.5 points to close to WS100 (a daily round-trip TCE of $37,010). In the Mediterranean and Black Sea region, the 135,000 mt CPC/Med route dipped two points to a fraction below WS135 (showing a daily TCE of $61,005 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean slipped 1.5 points to around WS73.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent route has fallen by a further 14 points to WS166.07 (showing a round-trip daily TCE of $63,985 basis Hound Point to Wilhelmshaven). In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean continues a poor run of form for owners, with a few within the well-stocked Greek-controlled fleet now ignoring the Russian ‘premium business’, coming off 29 points to WS153.56 (basis Ceyhan to Lavera that shows a daily round trip TCE of $43,536).
On the other side of the Atlantic, the Thanksgiving holiday has meant the market has been quiet since Wednesday. The focus, even on Wednesday, was for tonnage coverage over the long weekend and early next week, in particular for the longer trans-Atlantic voyage where the rate was beginning to bounce back after the recent losses. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) is 46 points weaker than last Friday at WS198.13 (a daily round-trip TCE of $56,040), while the 70,000 mt Covenas/US Gulf rate has shed another 40 points to WS187.19 (a round-trip TCE of $47,716/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent is 20 points lower than last Friday at WS180.31 (a round trip TCE basis Houston/Rotterdam of $44,583/day), although earlier in the week Repsol were reported to have covered at WS155, then various charterers had plunged for tonnage and successive fixtures were done at WS175 and WS180, with WS185 being reported on subjects to Mercuria for a relatively prompt cargo that is due to load on Monday.
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