VLCC tanker rates faced a significant decline last week on Baltic routes. Specifically, the rate for route TD3C (270,000 tons from the Persian Gulf to China) dropped by 37.5 points to WS1,281.25, equivalent to a daily TCE of $1,370,193 for standard Baltic tankers. Meanwhile, the rate for route TD34 (Oman Gulf to China) has sharply decreased by about 64 points to WS776.43, with a daily TCE of $837,569.
Developments in the Atlantic Market
In the Atlantic market, the rate for the route of 260,000 tons from West Africa to China (TD15) has decreased by more than 38 points to WS711.88, with a daily TCE of $720,400. Additionally, the rate for the route from the U.S. Gulf to China (TD22) has decreased by $8.75 million to $80.58 million, with a daily TCE of $559,334.
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Suezmax Market Status
In the Suezmax sector, the market has weakened on Baltic routes except for the Black Sea. The rate for the route of 130,000 tons from Nigeria to the UK (TD20) has decreased by 76 points to WS920, equivalent to a daily TCE of $522,600. Furthermore, the rate for route TD27 (Guyana to the UK) has decreased by 33 points to WS952.22, with a daily TCE nearing $550,000.
In the Black Sea, loading tension for November has reached about 1.45 to 1.55 million barrels per day of CPC Blend crude oil. The rate for the route of 135,000 tons CPC/Augusta (TD6) has increased by 68 points to WS1092, with a daily TCE of approximately $888,400. The rate for the route of 80,000 tons from the Black Sea to the UK (TD19) has also decreased by 60 points to WS720.
Finally, in the Victoria market, rates have been mixed, and owners show a greater preference for long-haul trips compared to short trips. The rate for route TD28 (80,000 tons of crude oil from Vancouver to China) has decreased by $210,000 to $15,590,000, with a daily TCE of just over $334,000.
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