The very large crude carrier market has shown clear upward momentum this week, with reported gains concentrated on Middle East Gulf voyages, according to reports. Key clean LR2 and VLCC assessments climbed sharply while some east–west and Mediterranean routes moved differently.
MEG–Japan route posts sharp gains
reports recorded a jump of 209 points on the Clean LR2 TC1 75,000‑ton MEG/Japan index to WS785, a rise that translates to roughly $232,000 per day on a Baltic round‑trip basis. That step change underlines markedly stronger earnings for vessels fixed on the MEG–Japan leg compared with recent levels.
Charterers and owners trading on the MEG–Japan axis will find the TC1 move a prominent feature of the week, with the Baltic round‑trip return cited as the principal metric for comparing voyage economics. The report presents the increase as a significant weekly swing rather than a gradual uptick.
Voyage west spikes; Europe shows a modest correction
Meanwhile the TC20 90,000‑ton MEG/UK‑Continent index saw a dramatic rise, with voyage west fixtures rising some 66% to reach $16.5 million, as published by reports. That sharp increase contrasts with the movement on trans‑Atlantic and short‑haul clean product business witnessed elsewhere.
In Europe, the TC15 80,000‑ton Mediterranean/East index eased slightly to $6.1 million, a decline of $80,000, the same report states. The modest fall on the Mediterranean/East route highlights a divergence between stronger demand for loadings out of the MEG and softer activity on some European long‑haul flows.
Taken together the figures point to a short‑term realignment of earnings across LR2 and large tanker routes, with MEG outward fixtures providing the most immediate uplift. Operators and chartering desks assessing repositioning and programme cover will find the relative returns between MEG–Japan, MEG–UK‑Continent and Mediterranean business a key factor in next‑voyage decisions.
Owners enjoying the higher Baltic round‑trip returns on MEG–Japan voyages will likely see materially stronger daily revenue profiles for vessels fixed on that leg this week, while those with ships exposed to Mediterranean/East voyages experienced a small earnings contraction. The published numbers provide a clear snapshot of the market split rather than a full seasonal or structural picture.
reports supplied the market movements and raw index figures used in this account, which shows the present episode of firming freight on MEG routes alongside more modest adjustments in European trades. The disparities will be watched closely in the coming fixtures as charterers and owners recalibrate position lists and forward cover.