VLCC Rates Fluctuate, Suezmax and Aframax See Varied Trends

The MEG (Middle East Gulf) LR2 market appears to have peaked in its current freight rate surge, reports Baltic Exchange.

VLCC

Rates increased at the start of the week but declined towards the end.

Middle East Gulf to China (TD3C):
- The 270,000 mt route saw a 10-point increase from the previous Friday, reaching WS58.75.
- This translates to a round-trip Time Charter Equivalent (TCE) of $51,536 per day.
West Africa to China (TD15):
- The 260,000 mt route increased by 6.5 points week-on-week,...