VLCC (Very Large Crude Carrier) tanker rates in the Middle East market have slightly decreased this week. Specifically, the TD3C route (270,000 mt from the Gulf to China) has dropped from WS1,165 last Friday to WS1,157.5 this Thursday. This rate decrease translates to a TCE (Total Cost of Employment) of $1,235,414 per day for standard VLCC tankers.
Tanker Rates in the Global Market
While VLCC tanker rates have decreased, rates in other sectors of the market are increasing. For example, the TC20 route (90,000 mt from the Gulf to the UK and continental Europe) has increased by $662,500 to $17.27 million. Additionally, the TC15 route (80,000 mt from the Mediterranean to the East) has risen by $336,000 to $7.73 million.
In the Atlantic market, the TD15 route (260,000 mt from West Africa to China) has decreased by 22 points to WS511.88, with a TCE of $507,060 per day. In contrast, the TD22 route (from the Gulf of America to China) has increased by $500,000 to over $52.5 million, with a daily TCE of $407,100.
Developments in the Suezmax Sector and Other Routes
In the Suezmax sector, the TD20 route (130,000 mt from Nigeria to continental Europe) has decreased by 18 points to WS435, with a daily TCE of approximately $228,400. Additionally, the TD27 route (from Guyana to continental Europe) has decreased by 27 points to WS437, with a daily TCE of around $232,800.
In the Black Sea, the TD6 route (135,000 mt from CPC to Augusta) has remained around WS500, with a daily TCE of approximately $368,000. In Norway, the TD7 route (80,000 mt from the UK to continental Europe) has increased by 112.5 points to WS416.67, indicating a daily TCE close to $306,600.
In the Mediterranean, the TD19 route (80,000 mt from the Mediterranean to the East) has risen again to WS557.78, with a daily TCE of about $289,400. Across the Atlantic, the TD26 route (70,000 mt from East Mexico to the Gulf of America) has increased by 64 points to WS505, raising its daily TCE to over $160,800.
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