VLCC Tanker Market Giving Up Past Gains

Clean LR2 The TC1 75kt MEG/Japan index climbed by 92 points this week to WS1075, with the corresponding Baltic round-trip TCE rising by $28,600 to $313,200/day. For the TC20 90kt MEG/UK-Continent run, the index edged up by $168,800 to $21.51 million, corresponding to $336,400/day on Baltic round trip. The TC15 80kt Mediterranean/East index dropped by $4.24 million to $12.00 million, with the Baltic round-trip TCE falling by $57,900 to $115,100/day.

LR1 The TC5 55kt MEG/Japan index jumped by 121 points this week to WS1105, translating to $229,900/day on Baltic round trip. For a trip westward, the TC8 65kt MEG/UK-Continent index gained $392,900 to reach $16.28 million, while the Baltic round-trip TCE return increased by $6,500 to $250,500/day.

MR The TC17 35kt MEG/East Africa index edged up by around 2 points this week to WS896, although the TCE slipped by $200 to $113,200/day. On the UK-Continent, the TC2 37kt ARA/US Atlantic Coast index climbed by 12 points to WS207, with the corresponding Baltic round-trip TCE gaining $1,800 to $12,900/day. In the US Gulf, the TC14 38kt US Gulf/UK-Continent index rose by 8 points to WS399 and the round-trip TCE increased by $1,100 to $53,900/day. The TC21 38kt US Gulf/Caribbean run added $246,400 to finish at $1.50 million, with the corresponding Baltic TCE climbing by $14,000 to $61,500/day. The MR Atlantic Triangulation Basket TCE increased from $63,400/day to $65,800/day.

Handymax In the Mediterranean, the TC6 30kt Cross-Mediterranean index climbed by 72 points to WS526 this week. The corresponding Baltic round-trip TCE rose by $20,700 to $109,600/day. The TC23 30kt Cross UK-Continent index gained 71 points to WS390, with the run’s TCE increasing by $20,900 to $67,900/day.

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