CPP Atlantic MR market report: USGC MRs firming & NWE MR market balanced

USGC spot TC14 is firming on tight tonnage, while NWE TC2 remains neutral with balanced supply and arb demand.

USGC MR: The spot TC14 outlook continues to firm, with Sparta’s FSD now implying rates near 213 WS. MR tonnage remains tight, with the list dropping from 17 vessels on 6 October to just 7 as of last night.

LATAM remains the only consistent demand source. Gasoline arbs into San Jose and diesel arbs into Santos are open for October and November loadings, though recent freight strength has eroded margins. Diesel arbs into Europe remain firmly shut, and the EC Canada backhaul has now closed due to higher freight.

Michael Ryan, our Freight Commodity Owner at Sparta, brings over a decade of experience with Trafigura in the energy sector managing risk across products and regions before becoming Head of Risk for subsidiary Puma Energy. Michael then joined the Trafigura commercial team trading freight while successfully growing the physical fleet through strategic dealmaking.

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To find out how Sparta can allow you to make smarter trading decisions, faster, contact us for a demonstration at sales@spartacommodites.com