Tankers: VLCC Market Facing More Uncertainty in International Shipping News 04/05/2026 Clean LR2 The TC1 75kt MEG/Japan index remained level in the mid WS550’s this week. A voyage west also saw the TC20 90kt MEG/UK-Continent index rose a little more to $10.92 million (+ $96,000). The TC15 80kt Mediterranean/East index dropped by another $160,000 to $10.6 million this week with the corresponding TCE down to $106,000/day on Baltic description round trip. LR1 The TC5 55kt MEG/Japan index has been assessed up another 10 points this week to WS656. A run west on TC8 65kt MEG/UK-Continent ended the week with the index $492,000 higher to $8.37 million. MR The TC17 35kt MEG/East Africa index levelled off this week at the WS734-737 mark this week which would generate $92,000/day on Baltic description round trip TCE. On the UK-Continent, MR freight levels dipped again this week. The TC2 37kt ARA/US-Atlantic Coast index was published 29.37 points lower than last week at WS230 with the Baltic TCE for the round trip now at $19,300/day. In the US Gulf, MR freight levels bounced up and down this week. The TC14 38kt US Gulf/UK-Continent run is currently assessed at WS426, up from where it started the week at WS405 but peaked mid-week at WS450. The Baltic round trip TCE for the run is now at $60,800/day. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean followed the same pattern and after hitting a ceiling of $1.55m, currently sits at $1.42m the corresponding TCE is now at $57,400/day on Baltic description. The MR Atlantic Triangulation Basket TCE went from $76,500/day to $75,300/day. Handymax In the Mediterranean, Handymax rates fell off a cliff this week with the TC6, 30kt Cross-Mediterranean index dropping 127 points to WS447, translating to $88,000/day (down 30%) on Baltic TCE round trip. The TC23 30kt Cross UK-Continent route also lost value this week, it shed 35.22 points to WS462 which generates $91,900/day on Baltic TCE round trip. VLCC The situation in the Middle East continues to remain uncertain. The Baltic panellists now assess the rate for the TD3C route (270,000mt Middle East Gulf to China) about 40 points less than last Friday at WS408.13, which corresponds to a daily round-trip TCE of $407,437 for the standard Baltic VLCC. TD34 (Gulf of Oman/China) was assessed on Thursday at WS150, 16.5 points lower than last Friday. In the Atlantic market, the rate for the 260,000mt West Africa to China route (TD15) softened slightly and is now 1.5 points lower than a week ago, at WS132.5 giving a round voyage TCE of a little over $100,600, while in the same period the US Gulf to China route (TD22) has dropped about $500,000 this week to a little below $15,750,000 which gives a daily round trip TCE of just under $94,000. Suezmax In the Suezmax sector the rate for the 130,000mt Nigeria/UK Continent voyage (TD20) trip lost 7 points to WS212.22 which translates into a daily round-trip TCE of about $92,250. There was one well reported cargo being traded yesterday with about 10 offers from owners, so the opportunity for the charterer to drive the market down further is very apparent. The TD27 route (Guyana to UK Continent basis 130,000mt) remained flat at WS226 which gives a daily round trip TCE of about $102,600, but given what is happening in West Africa, there is likely to be a correction here. The Baltic route of 145,000mt USG/UKC (TD33), gained 7.5 points to WS200 but this also is likely to be corrected downwards. In the Black Sea, rates for the TD6