Tanker Market Softening After Easing of Middle East Tensions in International Shipping News 06/07/2026 Clean LR2 The TC1 75kt MEG/Japan index dropped significantly this week, losing 143 points to WS361. A voyage west also fell in value this week with the TC20 90kt MEG/UK-Continent index going from $9.75 million to $8.27 million. In Europe the TC15 80kt Mediterranean/East index remained flat this week, around the $4.33 million to $4.32 million mark, with the corresponding TCE at just over $20,900/day on Baltic description round trip. LR1 The TC5 55kt MEG/Japan index also saw a significant drop this week, losing 166 points to WS355. A run west on TC8, 65kt MEG/UK-Continent saw the index drop $1.26 million to $6.82 million. MR The TC17 35kt MEG/East Africa index fell from WS540 to WS515 this week, this took the Baltic TCE for the run to $61,035/day round trip. Up on the UK-Continent, MR freight saw a modest improvement this week. The TC2 37kt ARA/US-Atlantic Coast climbed 8 points and is currently marked at WS129, with the Baltic TCE for the round trip now at $4,279/day. Across the Atlantic, US Gulf MR freight levels surged this week with the TC14 38kt US Gulf/UK-Continent index adding 90 points to WS237. The Baltic round trip TCE for the run is now at $27,307/day, up 180% from last week. The Caribbean voyage on TC21, 38kt US-Gulf/Caribbean saw a 101% increase to $1.21 million this week with the corresponding TCE rising to its current $49,233/day on Baltic description. The MR Atlantic Triangulation Basket TCE went from $18,109/day to $34,496/day. Handymax In the Mediterranean, Handymax rates remained level this week with the TC6, 30kt Cross-Mediterranean index continuing around the high WS160’s. The TC23 30kt Cross UK-Continent dropped a modest 4.45 points and is currently marked at WS178, giving $11,999/day on Baltic TCE round trip. VLCC The relaxation of hostilities in the Middle East seemingly continues, with over a dozen ships reported on subjects within the last c