Tanker Shipping: VLCCs Keep Returning Major Profits
Clean LR2 The TC1 75kt MEG/Japan index strengthened slightly this week, climbing 3.33 points to WS540 as sentiment improved in the East. A voyage west weakened, with the TC20 90kt MEG/UK-Continent index decreasing by $187,500 to $9.24 million. In Europe, the TC15 80kt Mediterranean/East index gained $433,000 to $6.02 million, with the corresponding Baltic round-trip ...
VLCCs continue to generate significant profits in the tanker shipping industry, as evidenced by a recent strengthening in the major indices. The TC1 75kt MEG/Japan index rose 3.33 points to WS540, while the TC17 35kt MEG/East Africa index increased from WS507.86 to WS525.00. The Baltic TCE for the run to China has also risen to $60,783/day.
In Europe, the TC15 80kt Mediterranean/East index has gained $433,000 to $6.02 million, and the Baltic round-trip TCE has increased by $7,942 to $39,378/day via the Suez. The TC5 55kt MEG/Japan index rose 13.75 points to WS579.38, indicating a stronger sentiment for fixtures heading East. The TC2 37kt ARA/US-Atlantic Coast index dropped 5.00 points to WS100.63, while the Baltic TCE for the round trip is now at $-4,225/day.
The TC14 38kt US Gulf/UK-Continent index decreased from WS230.71 to WS213.57, with the Baltic round trip TCE now at $19,742/day. The Caribbean voyage on TC21, 38kt US Gulf/Caribbean, remains at $647,857, with the corresponding Baltic TCE at $14,224/day. The MR Atlantic Triangulation Basket TCE settled at $22,939/day. In the VLCC sector, the TD3C route (Middle East Gulf to China) has seen a significant increase of 54 points to WS623, with a daily round-trip TCE of just over $647,000.
The TD34 route (Gulf of Oman/China) is also showing strong returns, with a round-trip TCE of over $219,400/day. The Atlantic market has seen a weakening in rates, with the TD15 route (West Africa to China) dropping by 17 points to about WS205, and the TD22 route (US Gulf to China) falling by over $1 million to $24,600,000, resulting in a daily round trip TCE of just shy of $171,000.
Written by urgent.news from Hellenic Shipping News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
