LR’s in the MEG look to have lost steam this week following last week’s moderate firming. The 75Kt MEG/Japan TC1 index has remained stable with enough activity for it to climb from WS170 to WS173. Similarly, a 90kt MEG/UK-Continent TC20 run freight has hovered around the $4.4m level all week.

West of Suez, Mediterranean/East LR2’s on TC15 has been somewhat inactive this week, with the index shedding just under $80,000 to $3.529m.

In the MEG, LR1’s have also been subject to some softening from their momentum slowing this week. The 55kt MEG/Japan index of TC5 dipped from WS175 to WS170. Similarly on the 65kt MEG/UK-Continent of TC8 lost circa $85,000 to $3.55m.

On the UK-Continent, the 60Kt ARA/West Africa TC16 index saw an incremental improvement from WS175 to WS179.69 where it has sat for three days at time of writing.


MR’s in the MEG felt a little busier this week but despite this there was not enough enquiry to pulls rates up. The 35kt MEG/East Africa TC17 index, as a result, lost 16.07 points to WS228.57.

UK-Continent MR’s consistent fixing activity assisted by some enquiry from further towards the Mediterranean in helped freight rates resurge a little. The 37kt ARA/US-Atlantic coast of TC2 added 13.5 points to its index climbing to WS154.75. TC19 (37kt ARA/West Africa) as usual mirrored this and is currently pegged at WS165 (+13.75). These improvements have taken the round trip TCE’s back into the mid-teens of thousands of dollars per day.

The USG MR’s improved early this week, with strong activity and Panama Canal delays notably reduced. TC14 (38kt US-Gulf/UK-Continent) climbed optimistically to WS115 (+12.5) where it looks to have paused for the moment. The 38kt US-Gulf/Brazil TC18 run has followed the same pattern up to WS198.5 which is where it currently sits. A 38kt US-Gulf/Caribbean TC21 run has been a little more unsettled in pricing this week but ultimately the index has risen $35,000 to $664,286.

The MR Atlantic Triangulation Basket TCE climbed back up $4,905 to $21,143.


In the Mediterranean, Handymax’s crept back up 9.72 points to WS196.94 for the TC6 30kt Cross-Med index with wide reports of that WS200 is on subjects.

Up in northwest Europe, the TC23 30kt Cross UK-Continent index held resolute in mid WS170’s.


The market steadied this week with rates generally slighter firmer except in the US Gulf arena. The rate for 270,000 mt Middle East Gulf to China rose two points to WS56.38 corresponding to a daily round-trip TCE of $31,477 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 one point up from last Friday at WS32.33.

In the Atlantic market, while the rate for 260,000 mt West Africa/China rose three points to WS60.40 (which shows a round voyage TCE of $37,535/day), the rate for 270,000 mt US Gulf/China is $88,889 softer at $9,677,778 ($42,334/day round trip TCE, which is actually about $500/day up on last Friday).


Suezmaxes in West Africa have had another good week with rates climbing further. The rate for 130,000 mt Nigeria/UK Continent rose 27 points to WS145 (a daily round-trip TCE of $65,933). In the Mediterranean and Black Sea region the 135,000 mt CPC/Med route, aided by a firm Aframax market, rose another 10 points to WS145.26 (showing a daily TCE $69,006 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean slackened by two points to a shade under WS80.


In the North Sea, the rate for the 80,000 mt Cross-UK Continent route rocketed another 40 points to WS213.57 (showing a round-trip daily TCE of $103,055 basis Hound Point to Wilhelmshaven). In the Mediterranean market, the rate for 80,000 mt Cross-Mediterranean firmed by another six points to WS220.28 (basis Ceyhan to Lavera showing a daily round trip TCE of $79,117).

On the other side of the Atlantic, the trans-Atlantic market caught up with the short haul voyages. The rate for 70,000 mt East Coast Mexico/US Gulf is 10 points firmer than a week ago at WS265 (a daily round-trip TCE of $91,158) and the 70,000 mt Covenas/US Gulf rate climbed 13 points to WS256.88 (a round-trip TCE of $76,901/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent shot up 65 points to WS265 (a round trip TCE basis Houston/Rotterdam of $77,448/day).

Source: The Baltic Exchange