According to the Baltic Exchange’s Weekly Market Roundups published on February 17, 2023:
Clean
In the Middle East Gulf, LR2s have been leading the charge this week with consistently firming sentiment throughout. TC1 has surged 59.94 points to WS184.38 (a 48% rise) and a TC20 run west climbed $917,000 to $4,550,000. LR1s have been following their larger peers and TC5 (55,000t MEG/Japan) ended up at WS214.64 (+71.43) by the end of the week. On a voyage to the UK-Continent (TC8) jumped up $558,000, to $3,866,000. MRs have been capitalising on a positive period this week with TC17 hopping up another 33.57 points to WS387.14 and a round-trip TCE of $52,518 per day.
West of Suez, LRs have also been progressing this week and TC15 has risen $1,100,000 to $4,000,000 tanking the round-trip TCE back into the black and up to $17,650 per day. TC16 has also been optimistically improving, seeing the index hop up 49.29 points (30%) to WS212.86 and just shy of $50,000 per day round-trip TCE.
MRs on the UK continent have suffered with activity levels dropping off this week. TC2 has been cut back 28.89 points to WS264.44 and similarly TC19 has ended up at WS274.29 (-29.28).
UK-Continent Handymax vessels on TC23 (30,0000t Cross UK-Continent) have rocketed 91.87 points this week to WS263.75.
In the Mediterranean, TC6 has been resolute this week from a balance of enquiry and available tonnage. WS265 has been fixed repeatedly and led the index to this level at time of writing.
In the Americas, MRs have been modestly improving this week. TC14 regained 15 points to WS210.83 and TC18 improved 17.5 points to WS312.5. Meanwhile, a TC21 run to the Caribbean was propelled up $358,000 to $1,392,000.
VLCC
The VLCC market continued its positive trajectory this week with some freight climbing back to levels not seen since December. For the 270,000mt Middle East Gulf to China voyage the rate rose by 8.9 points (13.9%) to WS66.32. This shows a daily round voyage TCE of $46,125 per day basis the Baltic Exchange’s vessel description. The rate for 280,000mt Middle East Gulf to US Gulf (via the cape/cape routing) is assessed a further 2.44 points higher, taking it just over the WS40 mark.
In the Atlantic the 260,000mt West Africa/China improved by 5.36 points to WS65.5, showing a round-trip TCE of $44,864 per day. The rate for 270,000mt US Gulf/China climbed $377,778 (15.61%) to just over $8.78 million ($35,000 per day round trip TCE).
Suezmax
The rate for 135,000mt CPC/Augusta climbed and incremental 4.22 points this week to 166.72 (a round-trip TCE of just under $86,000 per day). In West Africa, the 130,000mt Nigeria/Rotterdam voyage was more active this week. Levels ticked up 11.25 points to WS125.34 (a daily round-trip TCE of about $53,501 per day). In the Middle East, the rate for 140,000mt Basrah/Lavera held stable in the mid WS50s.
Aframax
In the North Sea market, rates for the 80,000mt Hound Point/Wilhelmshaven route took another 4.68 point dip to WS153.13 (a round-trip daily TCE of $50,119). In the Mediterranean, the rate for 80,000mt Ceyhan/Lavera had a 13.44 chunk taken out of it to WS172.5 (a daily round-trip TCE of $53,629). Across the Atlantic, the Stateside Aframax market rebounded with gusto. The rate for 70,000mt East Coast Mexico/US Gulf improved by 25.63 points to the WS195 region (about $54,500 per day round-trip TCE). Meanwhile, the rate for 70,000mt Covenas/US Gulf jumped 30.31 points to WS190 (a daily round-trip TCE of $49,031). For the Transatlantic route of 70,000mt US Gulf/Rotterdam, rates also continued upwards, rising 33.58 points to sail over WS200 and up to WS214.29 (showing a round-trip TCE of $58,144 per day).
