Freight Markets
VLCC · Suezmax · Aframax · LR2 · LR1 · MR. Live Worldscale and TCE assessments are Baltic-licensed commercial data — shown here as structured route intelligence and authoritative source links, never fabricated.
Data integrity note: Baltic Exchange route assessments, Worldscale points and TCE are licensed. The matrix below is reference structure; absolute rates populate when a Baltic/Clarksons/Signal Ocean feed (Tier-4) is connected.
Tanker segments
Vessel class, cargo, benchmark routes, and how the rate is quoted.
| Segment | Size | Cargo | Benchmark routes | Spot WS | TCE ($/day) |
|---|---|---|---|---|---|
| VLCC | ~200–320k dwt | Crude (2m bbl) | TD3C AG→China, TD22 USG→China | Commercial | Commercial |
| Suezmax | ~120–200k dwt | Crude (1m bbl) | TD20 WAF→UKC, TD6 Black Sea→Med | Commercial | Commercial |
| Aframax | ~80–120k dwt | Crude / DPP | TD7 North Sea, TD25 USG→UKC | Commercial | Commercial |
| LR2 | ~80–120k dwt | Clean products (naphtha/jet/diesel) | TC1/TC20 AG→Japan/UKC | Commercial | Commercial |
| LR1 | ~55–80k dwt | Clean products | TC5 AG→Japan | Commercial | Commercial |
| MR | ~25–55k dwt | Clean products (gasoline/diesel) | TC2 UKC→US, TC14 USG→UKC, TC17 AG→East Africa | Commercial | Commercial |
Freight source intelligence
Dirty (BDTI) & clean (BCTI) tanker indices, route assessments, TCE.
How to read: BDTI tracks crude tanker earnings; individual TD/TC routes show segment health.
VLCC/Suezmax/Aframax/product earnings, orderbook, fleet age.
How to read: Earnings vs opex breakeven tells you who's making money; orderbook signals future supply.
Free weekly commentary on rates, fixtures, sentiment.
How to read: Good qualitative read on where rates are heading and why.
Daily shipping news incl. casualties, congestion, regulation.
How to read: Scan headlines for events that move ton-miles or supply.
How freight is priced
What: An index of nominal flat rates per route; spot tanker rates are quoted as a percentage of the annual flat rate.
Why: It normalises rates across routes of different distances so one number ('WS 75') is comparable year to year.
How traders use it: A trader converts WS to TCE (using flat rate, cargo size, speed, bunker price) to judge true earnings.
What: Voyage revenue minus voyage costs (bunkers, port, canal), expressed as $/day — comparable to a daily hire rate.
Why: It's the apples-to-apples earnings metric across routes and vessels; the number owners actually live on.
How traders use it: Traders compare TCE to daily opex/breakeven to see which segments make money and where tonnage will move.