Tankers: VLCC Market on the Rise
Clean LR2 The TC1 75kt MEG/Japan index jumped 209 points this week to WS785 returning around $232,000/day on a Baltic round trip basis. A voyage west also shot up 66% to $16.5 million on the TC20 90kt MEG/UK-Continent index. In Europe, the TC15 80kt Mediterranean/East index came off modestly to $6.1 million (-$80,000), with the ...
Tankers, particularly VLCC, are experiencing a significant rise in the market, according to recent data from the Baltic Exchange. The TC1 75kt MEG/Japan index surged 209 points to WS785, generating approximately $232,000 per day on a Baltic round trip basis. Meanwhile, the TC20 90kt MEG/UK-Continent index saw a substantial increase of 66% to $16.5 million.
In Europe, the TC15 80kt Mediterranean/East index decreased modestly to $6.1 million, with the TCE now at just under $38,000 per day. The LR1 MEG rates also saw a dramatic climb, with the TC5 55kt MEG/Japan index increasing 191 points to WS820. The TD3C route, transporting 270,000 mt Middle East Gulf oil to China, rose 21% from WS677.78 to WS821.11, resulting in a daily round-trip TCE of $862,150.
Similarly, the TD34 route from the Gulf of Oman to China increased 62%, reaching a daily TCE of $465,764. In the US Gulf market, the TC14 38kt index declined from WS250 to WS220, while the TC21 38kt US Gulf/Caribbean route decreased by $115,000, with a Baltic TCE of $14,700. Meanwhile, the TC17 35kt MEG/East Africa route increased from WS556 to WS708, providing a daily TCE of $86,600.
Across the Atlantic, the rate for the 70,000 mt US Gulf/UK Continent route climbed 136 points to WS375, with a daily round-trip TCE of nearly $99,400.
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.
