Flat Week for VLCCs
on Basket TCE ultimately climbed from $57,821 to $58,239.
Handymax
In the Mediterranean, Handymax’s have stabilised this week at WS265 with demand and supply balanced for the moment.
Up in northwest Europe, the TC23 30kt Cross UK-Continent ticked up for the second week in a row, adding 23.33 points to WS213.61.
VLCC
The market has been relatively flat this week, with rates from the Middle East sideways, and slightly softer in the Atlantic. For the 270,000 mt Middle East Gulf to China route, the value is unchanged at WS66.5, which corresponds to a daily round-trip TCE of just over $48,747 basis the Baltic Exchange’s vessel description, although this is actually about $3,000/day greater than a week ago. The 280,000 mt Middle East Gulf to US Gulf trip (via the cape/cape routing) is still assessed around the WS35-36 level.
In the Atlantic market, the rate for 260,000 mt West Africa/China is now a point off from last Friday’s number at WS66.4 (which shows a round voyage TCE of $49,961/day, about a $1,500/day increase from a week ago), while the rate for 270,000 mt US Gulf/China fell $188,889 to $9,511,111 ($44,290/day round trip TCE, an increase of over $1,000/day), while overnight there are reports of a traders relet on subjects to another trader at $9,350,000.
Suezmax
Suezmaxes in West Africa firmed a little this week with assessments for 130,000 mt Nigeria/UK Continent route climbed four points to WS102.73 (a daily round-trip TCE of $41,010). In the Mediterranean and Black Sea region, the 135,000 mt CPC/Med route rose one point to WS137.5 (showing a daily TCE of $65,723 round-trip). In the Middle East, the rate for 140,000 mt Middle East Gulf to the Mediterranean dropped a point to WS67.
Aframax
In the North Sea, the rate for the 80,000 mt Cross-UK Continent route slipped about 2.5 points to WS142.14 (showing a round-trip daily TCE of $45,996 basis Hound Point to Wilhelmshaven). In the Mediterranean market the rate for 80,000 mt Cross-Mediterranean dropped 12 points to WS136 (basis Ceyhan to Lavera, that shows a daily round trip TCE of $35,745).
On the other side of the Atlantic, the market has continued in a downward direction. The rate for 70,000 mt East Coast Mexico/US Gulf (TD26) has fallen 40 points to WS138.13 (a daily round-trip TCE of $29,543) and the 70,000 mt Covenas/US Gulf rate has shed 32 points to WS134.38 (a round-trip TCE of $27,359/day). The rate for the trans-Atlantic route of 70,000 mt US Gulf/UK Continent has been weakened by 17 points to WS159.06 (a round trip TCE basis Houston/Rotterdam of $38,597/day).
Source: Baltic Exchange