Tanker Market: VLCCs on a Rampage
Clean LR2 The TC1 75kt MEG/Japan index continued to gently climb this week by 25 points to WS82. A voyage west also saw the TC20 90kt MEG/UK-Continent index drop from $16.5 million to $16.35 million. The TC15 80kt Mediterranean/East index firmed a little over a million dollars this week to $7.2 million, with the corresponding ...
The tanker market has experienced significant fluctuations this week, with VLCCs on the rise. The TC1 75kt MEG/Japan index climbed 25 points to WS82, while the TC20 90kt MEG/UK-Continent index dropped from $16.5 million to $16.35 million. The TC17 35kt MEG/East Africa index climbed early in the week by around 15 points before stabilizing at just over WS740, generating a daily round-trip TCE of around $90,500.
Meanwhile, MR freight levels in the UK-Continental market managed to pick up slightly, with the TC2 37kt ARA/US-Atlantic Coast index increasing by 41 points to WS141, bringing the Baltic TCE for the round trip to just -$477/day.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.