VLCC Tanker Market Facing New Questions Regarding Direction in International Shipping News 23/03/2026 Clean LR2 MEG LR2 freight eastward climbed modestly this week. The TC1 75kt MEG/Japan index went from WS353 to WS376. By comparison, a voyage west saw the TC20 90kt MEG/UK-Continent index came down to $7.29 million (-$143,000). The TC15 80kt Mediterranean/East index dropped by $170,000 to $8.23 million this week with the corresponding TCE dropping to $61,300/day on Baltic description round trip. LR1 The TC5 55kt MEG/Japan index has been assessed up by 25 points to W388. A run west on TC8 65kt MEG/UK-Continent ended the week with the index $109,000 lower to $5.61 million. On the UK-Continent, LR1 freight rose another 11 points this week to WS296 for the TC16 60kt ARA/West Africa index. This took the Baltic TCE for the route to $57,900/day round trip. MR The TC17 35kt MEG/East Africa index added 189 points to WS591 this week. On the UK-Continent, MRs came back up this week. The TC2 37kt ARA/US-Atlantic Coast index was assessed 11 points higher than last week at WS230 with the Baltic TCE for the round trip at $19,700/day. In the US Gulf, MR freight resurged this week. The TC14 38kt US Gulf/UK-Continent run is currently assessed at WS413 after beginning the week at WS395. The Baltic round trip TCE for the run is now at $58,200/day. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean is presently assessed at $2.03 million, the corresponding TCE is now at $93,200/day on Baltic description round trip. The MR Atlantic Triangulation Basket TCE went from $69,100/day to $673,400/day. Handymax In the Mediterranean, Handymax’s on TC6, 30kt Cross-Mediterranean index climbed 32 points to WS357 this week. The TC23 30kt Cross UK-Continent route rose again to WS397 this week (+9) which generates $72,800/day on Baltic TCE round trip. VLCC The continuing situation in the Middle East has meant challenges for the Baltic panellists. The extreme risk to shipping via the Strait of Hormuz still exists, however, our panellists remain able to price Middle East loading for the Crude Oil shipping market. Rates for the TD3C route (270,000mt Middle East Gulf to China) were being assessed at WS427.67 last Friday and is now being rated at WS413.89 which corresponds to a daily round-trip TCE of $400,928 for the standard Baltic VLCC. In the Atlantic market, the rate for the 260,000mt West Africa to China route (TD15) has softened from WS162.06 last Friday but remains dramatically firm at WS145.31, giving a round voyage TCE of $101,912, while the US Gulf to China route (TD22) rose from $20,322,222 to $22,217,222 which gives a daily round trip TCE of about $137,200. Suezmax In the Suezmax sector, the rate for the 130,000mt Nigeria/UK Continent voyage (TD20) trip dipped from WS258.61 to WS256.67 which translates into a daily round-trip TCE of $118,650. The TD27 route (Guyana to UK Continent basis 130,000mt) eased from the WS259 level to WS256 giving a daily round trip TCE of about $120,500. In the Black Sea, rates for the TD6 route of 135,000mt CPC/Augusta remain around last week’s levels, at the WS350 mark, meaning a daily TCE of about $232,250. In the Middle East, the TD23 route of 140,000mt Middle East Gulf to the Mediterranean (via the Suez Canal) rose from close to WS520 to WS550. The new Baltic route of 145,000mt USG/UKC (TD33), climbed from WS253 to WS260. Aframax In the North Sea, the rate for 80,000mt Cross-UK Continent route (TD7) moved up from WS225 to WS234, giv