clean
LR2
MEG LR2 freight levels were mixed this week: the 75kt MEG/TC1 freight rate to Japan recovered four points to WS200.56, while the 90kt MEG/continental UK TC20 voyage fell $168,750 to $5,925,000.
West of Suez, Mediterranean/Eastern LR2 also did not fare well, with the TC15 index falling by $216,666 to just over $3.8 million.
LR1
In MEG, LR1 freight rates fell. The 55kt MEG/Japan index in TC5 fell 11 points to just below WS230. The 65kt MEG/Mainland UK index in TC8 fell $193,050 to just above $4.41m.
From the UK to the continent, the TC16 60kt ARA/West Africa route fell 4ppts this week to WS157.78, with Baltic TCEs on this route at around $27,500/day round trip.
Mr.
MEG MRs have fallen sharply this week, but from steep highs. TC17 35kt MEG/East Africa has dropped from WS365 to WS337 (around $40,000 TCE/day).
In the UK intercontinental MR, TC2 37kt ARA/US Atlantic recovered 22 points to WS163.44, equivalent to a Baltic roundtrip TCE of $16,642 per day, while TC19 sailing (37kt ARA/West Africa) increased 23 points to WS184.69.
Transatlantic MRs continued to fall, with TC14 (38kt US-Gulf of Mexico/UK-Continent) down 74 points to WS136.43 (around $12,300/day round trip TCE), TC18 38kt US-Gulf of Mexico/Brazil down 70 points to WS212.86 (around $26,327/day round trip TCE) and TC21 38kt US-Gulf of Mexico/Caribbean down more than 41% to $680,000.
Handymax
In the Mediterranean, 30kt Mediterranean transatlantic (TC6) continued to struggle, with the market down 33 points to WS178.89 (roundtrip TCE now just under $20,000/day) and in Northwest Europe, the 30kt UK transatlantic TC23 dropped from WS180 to WS167.5.
VLCC
The VLCC market continued its downward trend this week, with the benchmark 270,000mt Middle East Gulf to China freight rate falling another two percentage points to WS51.10, with a daily round trip TCE of $28,577, according to Baltic Exchange shipping descriptions.
In the Atlantic, the market was also weaker. The 260,000 tonne freight rate from West Africa to China was at WS56.56, almost two points lower than last Friday, with a TCE of $34,982 a day for a round trip voyage, while the 270,000 tonne freight rate from the US Gulf Coast to China was down $305,000 to $8,215,000, with a TCE of $40,050 a day for a round trip.
Suezmax
The outlook for the West African Suezmax market has reversed recent declines this week, supported by firmer Suezmax markets in the US Gulf and Caribbean. Nigeria to continental UK freight rates for 130,000 tonnes rose 5 percentage points to WS113.72 ($58,800 TCE/day round trip). In the Mediterranean and Black Sea regions, 135,000 tonne CPC/Mediterranean freight rates remained near WS123 levels (around $50,000 TCE/day round trip). In the Middle East, 140,000 tonne freight rates from the Middle East Gulf to the Mediterranean (via the Suez Canal) are assessed at around WS100, 4 percentage points lower than last Friday.
Aframax
In the North Sea, UK transcontinental freight rates for 80,000 metric tonnes rose another two percentage points to WS174.17 (Hound Point to Wilhelmshaven round trip TCE of $67,741 per day).
In the Mediterranean market, 80,000 metric tonne trans-Mediterranean freight rates fell a further 19 percentage points to WS162.72 (based on Ceyhan to Lavella freight rates, implying a daily round-trip TCE of $45,784).
Transatlantic rates continue to rise, though not as sharply as last week. The 70,000 metric ton Mexico East Coast/US Gulf (TD26) rate increased one point to WS246.88 (TCE of $73,464 round trip per day), and the 70,000 metric ton Covenas/US Gulf (TD9) rate increased seven points from last Friday’s rate to WS238.75 (TCE of $64,301 round trip per day). The 70,000 metric ton US Gulf/UK Continent (TD25) transatlantic rate increased 17 points to WS228.61 (TCE of $59,746 round trip per day) as more ballast water vessels from Europe may begin to move.
Source: Baltic Exchange
