VLCC Market Takes A Downward Turn While Suezmax Remains Flat

LR2

MEG LR2 saw a freight spike this week despite a mid-week bank holiday in Singapore. Benefiting from tonnage availability thinning the TC1 rate for 75,000 mt MEG/Japan jumped 19.44 points to WS270 and the 90kt MEG/UK-Continent TC20 voyage went from $7.23 million to $7.84 million.

West of Suez, Mediterranean/East LR2’s began to improve this week. The TC15 index hopped up $116,000 to $3.63 million.

LR1

In the MEG, LR1 freight followed suit of its larger siblings. The 55,000 mt MEG/Japan index...

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