FIS: Tanker Market Overview: General improvement in tanker routes

Tanker FFA volumes increased on the clean tankers this week (+1774 lots), with DPP FFAs remaining relatively flat (+44 lots).

TC5 was hovering around 285-290ws all week, as TC2 and TC6 saw reductions in the spot market – due to an over-supply of tonnage and a lack of demand. MR owners in the West are now recouping a reported $22,700 per day round trip TCE.

TC14 improved as vessels ballasted to other markets, and delays at the Panama Canal caused a bottleneck of supply on its way back to the mid-200s, currently valued at 225ws.

TD3C continued to improve as the spot market peaked at 61.86ws on 20th July, providing owners with a round-trip TCE of $4,800 per day as per the Baltic.

Written by Titus Zheng Shujian and Edward Hutton, Edited by Chris Hudson (https://freightinvestorservices.com/fis-live/).