Home / Shipping News / International Shipping News / Tankers: Clean Market on the Rebound Again, While VLCCs Still Flat

Tankers: Clean Market on the Rebound Again, While VLCCs Still Flat


LR’s in the Middle East Gulf saw a welcome upturn after several weeks of being under pressure. TC1 75k Middle East Gulf / Japan has gained 24.29 points to WS215 and its round trip TCE back up to over $20,000/day. TC5 55k Middle East Gulf / Japan also saw a similar rise of 27.86 points to WS258.57. An LR1 trip west (TC8) ticked over the $60pmt by the end of the week settling at $62.29pmt ($4.04m). TC17 35kt Middle East Gulf / East Africa has consistently traded upwards coming up 55 points to WS213.33. The far east MR market has also been extremely busy this week.

In the west the LR2’s have jumped as a mid-week cargo widely reported fixed a $4m for a Med/East, has helped lead the index up to $4.18m (+$650k) taking the round trip TCE back into the black ($3,000 /day) by time of writing. The LR1’s of TC16 remained stable creeping up from WS235 to WS240 levels over the week.

MR’s in Northwest Europe have been the talk of the town this week, peaking at their highest level since April 2020 from a notable lack of tonnage. TC2 37k UK-Continent / US Atlantic Coast hiked 69.44 points to WS394.72 and TC19 37k UK-Continent / West Africa followed suit to WS404.29 (+71.43).

In the USG, freight rates have dropped significantly this week. TC14 38k US Gulf / UK-Continent has lost 68.57 points WS177.86. TC18 38k US Gulf / Brazil has followed suit dropping 92.14 points to WS250. The MR Atlantic basket TCE dropped from $43,513/day to $38,042/day. On the Handymax, open cross Mediterranean enquiry slowed towards the end of the week, the TC6 index dropped 6.25 points to WS408.75 . In the Baltic TC9 held around the mid WS420’s all week.


VLCC rates were flat this week, with 280,000mt Middle East Gulf/USG (via Cape of Good Hope) being assessed at WS25.5 while rates for the 270,000mt Middle East Gulf/China trip were up a meagre 0.5 points to just shy of WS45 (a round trip TCE of minus $22,200/day). In the Atlantic, markets the rate for 260,000mt West Africa/China were steady at the WS45.5 mark (minus $20,800/day round-trip TCE), while the rate for 270,000mt US Gulf/China voyage remained unchanged at $5.37m (a round voyage TCE of minus $23,400/day).


Rates for the 135,000mt Black Sea/Augusta were steady this week at close to WS112.5 (a round-trip TCE of $10,700/day), while the 130,000mt Nigeria/UKC route saw rates climb 2.5 points to a shade above WS93 (a round-trip TCE of about $1,700/day). In the Middle East rates for the 140,000mt Basrah/West Mediterranean rose a modest 1.5 points to almost WS55.


The 80,000mt Ceyhan/Mediterranean market saw a rebound this week, with rates improving 14 points to WS132.5/135 level (a round-trip TCE of about $8,00/day). In Northern Europe rates remained flat at about WS140 for the 80,000mt Hound Point/UK Continent trip (a daily round trip TCE of $9,800) and at WS165 for the 100,000mt Primorsk/UK Continent route (which shows a round trip TCE of $28,500/day) Across the Atlantic, the markets were ever so slightly firmer for the week. Rates for 70,000mt EC Mexico/US Gulf route rose 2 points to WS180 (a round-trip TCE of $15,900/day) and for the 70,000mt Caribbean/US Gulf route gained 2.5 points to WS175 (a round-trip TCE of Atlantic trip of 70,000mt US Gulf/UK Continent, rates increased 3.5 points to almost WS170 ($11,800/day round-tip TCE).
Source: The Baltic Exchange

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping