Affinity Spot Rates - CPP West

12/01/2023

6 80KT - NAP - MED to JAPAN 4.5 60KT- NAP - MED to JAPAN 390 60KT - UMS - ARA to WAFR
4 340
5
3.5 290
4 3 240
3 2.5 190
2 140
2
1.5 90
1 1 40
Nov22
Dec22

Nov22
Dec22
Jan22

Mar22

Jun22

Jan23

Jan22

Jun22

Jan23
Mar22
Apr22

Sep22
Feb22

Aug22

Apr22

Aug22
Sep22
May22

Oct22

Feb22

May22

Oct22
Jul22

Jul22
Aug22
Sep22
Feb22
Jan22

Jul22

Oct22

Jan23
Apr22

Jun22

Nov22
Dec22
Mar22

May22
460 37KT - UMS - ARA to WAFR 1000 40KT - ULSD - BALTIC to 480 30KT- CPP - CONT to WAFR
CONT
800
360 380
600
260 280
400
160 180
200

60 0 80
Nov22
Dec22

Nov22
Dec22

Nov22
Dec22
Mar22

Mar22

Mar22
Jan22

Jun22

Jan23

Jan22

Jun22

Jan23

Jan22

Jun22

Jan23
Apr22

Aug22
Sep22

Apr22

Aug22
Sep22

Apr22

Aug22
Sep22
Feb22

May22

Oct22

Feb22
Feb22

May22

Oct22

May22

Oct22
Jul22

Jul22

Jul22
460 37KT - UMS - ARA to BRAZIL 460 37KT - UMS - MED to USAC 560 37KT - UMS - MED to WAFR
460
360 360
360
260 260
260
160 160
160

60 60 60
Aug22
Sep22

Aug22

Aug22
Sep22
Sep22
Jan22

Jun22

Oct22
Nov22
Dec22
Jan23

Jun22

Oct22
Nov22
Dec22
Jan23

Jan22

Jun22

Nov22
Dec22
Jan23
Mar22
Apr22

Jan22

Mar22
Apr22

Apr22

Oct22
Feb22

Feb22

Feb22
Mar22
May22

Jul22

May22

Jul22

May22

Jul22
38KT - ULSD - USG to CONT 37KT - UMS - MED to AG 30KT - ULSD - CONT to CONT
500 3,100 460
400 2,600 360
300 2,100
260
200 1,600
100 160
1,100
0 600 60
Nov22
Dec22

Nov22
Dec22
Mar22

Mar22
Jun22

Jan23

Jan22

Jun22

Jan23
Jan22

Apr22

Aug22
Sep22

Apr22

Sep22
Feb22

May22

Oct22

Feb22

Aug22
May22

Oct22
Jul22

Jul22
Feb22

Jun22

Jan23
Jan22

Mar22
Apr22

Jul22
Aug22
Sep22

Nov22
Dec22
Oct22
May22

LATEST AFFINITY WEST OF SUEZ SPOT RATES

Source: Affinity Current Previous 1-Year High 1-Year Low
80KT - NAP - MED to JAPAN LS/M  4.5 4.6 5.5 01/12/22 1.8 18/02/22
60KT- NAP - MED to JAPAN LS/M  3.8 3.8 4.3 22/11/22 1.7 01/03/22
60KT - UMS - ARA to WAFR WS  200 220 350 05/12/22 95 07/02/22
37KT - UMS - ARA to WAFR WS  190 205 430 09/12/22 125 28/01/22
40KT - ULSD - BALTIC to CONT
WS  500 500 830 27/12/22 135 25/01/22
30KT- CPP - CONT to WAFR WS  220 225 460 09/12/22 150 28/01/22
37KT - UMS - ARA to BRAZIL WS  198 220 440 09/12/22 130 28/01/22
37KT - UMS - MED to USAC WS  180 185 410 15/12/22 130 01/02/22
37KT - UMS - MED to WAFR WS  190 213 445 05/12/22 135 01/02/22
38KT - ULSD - USG to CONT WS  95 100 425 08/04/22 80 25/01/22
37KT - UMS - MED to JEDDAHLS/M  1,200 1,200 2,700 15/12/22 1,200 11/01/23
30KT - ULSD - CONT to CONTWS  200 225 400 16/12/22 140 01/02/22

3
 Affinity Spot Rates - CPP West
12/01/2023

410 30KT - ULSD - CONT to MED 1050 30KT - ULSD - BLSEA to MED 550 30KT - ULSD - MED to MED
360
850 450
310
260 650 350
210 450 250
160
250 150
110
60 50 50
Jan22

Jun22

Oct22

Jan23

Jun22

Oct22

Jan22

Jun22

Oct22

Jan23
Apr22

Jan22

Apr22

Jan23

Apr22
May22

Aug22
Sep22

Nov22

May22

Sep22

Nov22
Dec22

May22

Sep22

Nov22
Dec22
Dec22

Aug22

Aug22
Mar22

Mar22
Feb22

Feb22
Mar22

Feb22
Jul22

Jul22

Jul22
1080 30KT - ULSD - BALTIC to 700 22KT - ULSD - BALTIC to
CONT CONT
880 600
500
680
400
480
300
280 200
80 100
Jan22

Jun22

Jan23
Oct22
Apr22
May22

Nov22
Dec22
Aug22
Sep22
Mar22
Feb22

Jul22

Aug22
Sep22
Jan22

Jun22

Oct22
Nov22
Dec22
Jan23
Mar22
Apr22
Feb22

May22

Jul22

LATEST AFFINITY WEST OF SUEZ SPOT RATES

Source: Affinity Current Previous 1-Year High 1-Year Low
30KT - ULSD - CONT to MED WS  190 215 390 16/12/22 125 01/02/22
30KT - ULSD - BLSEA to MED WS  475 475 950 08/07/22 160 08/02/22
30KT - ULSD - MED to MED WS  185 190 513 22/06/22 145 09/02/22
30KT - ULSD - BALTIC to CONT
WS  550 550 1,000 03/01/23 160 28/01/22
22KT - ULSD - BALTIC to CONT
WS  305 340 590 13/12/22 210 28/01/22

3
 Affinity Spot Rates - CPP East
12/01/2023

350 75K AG/Japan WS 445 55K AG/JAP WS 7 80K AG/UKC LS

300 6
345
250 5
200 245 4
150 3
145
100 2
50 45 1
Jun22

Oct22

Jan22

Jun22

Oct22

Jan23

Jan22

Jun22

Oct22
Jan22

Apr22

Jan23

Apr22

Apr22

Jan23
May22

Aug22
Sep22

Nov22
Dec22

May22

Aug22

Nov22

May22

Aug22
Sep22

Nov22
Dec22
Sep22

Dec22
Mar22

Mar22

Mar22
Feb22

Feb22

Feb22
Jul22

Jul22

Jul22
5.9 65K AG/UKC LS 4.7 40K AG/UKC LS 2.2 40K WCI/RedSea LS
4.9
3.7 1.7
3.9
2.7 1.2
2.9
1.7 0.7
1.9

0.9 0.7 0.2

Aug22
Sep22

Aug22
Sep22

Aug22
Sep22
Jan22

Jun22

Nov22
Dec22
Jan23

Jan22

Jun22

Oct22
Nov22
Dec22
Jan23

Jan22

Jun22

Oct22

Dec22
Jan23
Nov22
Mar22
Apr22

Oct22

Mar22
Apr22

Apr22
Feb22

Feb22

Feb22
Mar22
May22

May22
May22

Jul22

Jul22

Jul22
100000 75K AG/Japan 80000 55K AG/JAP 140000 80K AG/UKC
80000 120000
60000
100000
60000 80000
40000
40000 60000
20000 40000
20000
20000
0 0
0
-20000 -20000 -20000
Jan22

Jun22

Dec22
Jan23

Jan22

Jun22

Nov22
Dec22
Jan23

Jan22

Jun22

Nov22
Dec22
Jan23
Nov22
May22

May22

May22
Aug22
Sep22

Aug22
Sep22

Aug22
Sep22
Mar22
Apr22

Oct22

Mar22
Apr22

Apr22

Oct22
Feb22

Feb22

Oct22

Feb22
Mar22
Jul22

Jul22

Jul22
120000 65K AG/UKC 80000 40K AG/UKC 80000 40K WCI/RedSea
100000
60000 60000
80000
60000 40000 40000
40000
20000 20000
20000
0 0 0
Oct22

Oct22
Jan22

Jun22

Nov22
Dec22
Jan23

Jan22

Jun22

Dec22
Jan23
Nov22
Mar22
Apr22

Aug22
Sep22

Mar22
Apr22

Sep22
Feb22

Feb22

Aug22
May22

Jul22

May22

Jul22
Jan22

Jun22

Jan23
Oct22
Apr22
May22

Nov22
Dec22
Aug22
Sep22
Mar22
Feb22

Jul22

LATEST AFFINITY EAST OF SUEZ SPOT RATES

Source: Affinity Current Previous 1-Year High 1-Year Low
75K AG/Japan WS WS  175 220 325 28/12/22 73 17/02/22
55K AG/JAP WS WS  210 270 380 30/12/22 95 22/02/22
80K AG/UKC LS LS/M  4.40 4.50 6.50 28/11/22 1.58 18/02/22
65K AG/UKC LS LS/M  3.80 3.90 5.50 28/12/22 1.58 17/02/22
40K AG/UKC LS LS/M  2.40 2.20 4.20 20/06/22 1.20 11/01/22
40K WCI/RedSea LS $/Day  0.65 0.60 1.65 17/06/22 0.43 28/01/22
75K AG/Japan $/Day  34,962 49,108 82,823 20/12/22 - 3,083 16/02/22
55K AG/JAP $/Day  29,744 42,888 67,291 22/12/22 - 357 15/02/22
80K AG/UKC $/Day  72,341 74,636 122,305 25/11/22 - 1,826 17/02/22
65K AG/UKC $/Day  63,739 66,048 105,498 19/12/22 4,938 17/02/22
40K AG/UKC $/Day  38,068 33,272 74,380 20/06/22 8,235 28/01/22
40K WCI/RedSea $/Day  18,931 16,182 69,098 09/09/22 5,379 28/01/22

3
 Affinity Spot Rates - CPP East
12/01/2023

650 35K AG/EA WS 550 40K WCI/Japan WS 500 60K AG/EA WS

550 450 400
450
350 300
350
250 200
250
150 150 100

50 50 0
Jun22

Oct22

Jan22

Jun22

Oct22

Jan23

Jan22

Jun22

Oct22

Jan23
Jan22

Apr22

Jan23

Apr22

Apr22
May22

Aug22
Sep22

Nov22
Dec22

May22

Aug22

Nov22

May22

Aug22
Sep22

Nov22
Dec22
Sep22

Dec22
Mar22

Mar22

Mar22
Feb22

Feb22

Feb22
Jul22

Jul22

Jul22
440 80K AG/EA WS 60000 35K AG/EA 60000 40K WCI/Japan
50000 50000
340
40000 40000
240 30000 30000
20000 20000
140
10000 10000
40 0 0
Aug22
Sep22

Aug22
Sep22

Aug22
Sep22
Jan22

Jun22

Oct22
Nov22
Dec22
Jan23

Jun22

Oct22
Nov22
Dec22
Jan23

Jan22

Jun22

Oct22
Nov22
Dec22
Jan23
Jan22
Mar22
Apr22

Mar22
Apr22

Mar22
Apr22
Feb22

Feb22
May22

Jul22

Feb22

May22

Jul22

May22

Jul22
100000 60K AG/EA 120000 80K AG/EA 70000 MR
80000 100000 60000
60000 80000 50000
40000 60000 40000
20000 40000 30000
0 20000 20000
-20000 0 10000
-40000 -20000 0
Jan22

Jun22

Nov22
Dec22
Jan23

Jan22

Jan23

Jan22

Jun22

Dec22
Jun22

Nov22
Dec22

Nov22

Jan23
May22

May22

May22
Aug22

Aug22
Sep22

Aug22
Sep22

Sep22
Mar22

Oct22

Mar22
Apr22

Oct22

Mar22
Apr22

Oct22
Feb22

Apr22

Feb22

Feb22
Jul22

Jul22

Jul22
100000 LR1 120000 LR2 300 Affinity Index
80000 100000 250
80000 200
60000
60000 150
40000 40000
100
20000
20000 50
0
0 -20000 0
Oct22

Oct22
Apr22

Apr22
Jan22

Jun22

Dec22
Jan23

Jan22

Jun22

Nov22
Dec22
Nov22
Mar22

Sep22

Mar22

Aug22
Sep22

Jan23
Feb22

Aug22
May22

Jul22

Feb22

May22

Jul22
Jan22

Jun22

Jan23
Oct22
Apr22
May22

Nov22
Dec22
Aug22
Sep22
Mar22
Feb22

Jul22

LATEST AFFINITY EAST OF SUEZ SPOT RATES

Source: Affinity Current Previous 1-Year High 1-Year Low
35K AG/EA WS WS  235 225 565 17/06/22 178 11/01/22
40K WCI/Japan WS WS  195 198 450 21/06/22 120 12/01/22
60K AG/EA WS WS  220 300 400 03/01/23 100 23/02/22
80K AG/EA WS WS  190 275 375 28/12/22 50 14/02/22
35K AG/EA $/Day  14,029 12,679 50,035 09/09/22 5,346 14/02/22
40K WCI/Japan $/Day  18,519 18,740 49,468 21/06/22 5,893 15/02/22
60K AG/EA $/Day  35,514 53,831 76,698 15/12/22 - 15,454 05/01/23
80K AG/EA $/Day  39,130 65,595 96,576 19/12/22 - 8,890 14/02/22
MR $/Day  22,387 20,218 59,867 17/06/22 6,682 28/01/22
LR1 $/Day  42,999 54,255.64 82,850.22 21/12/22 3,128 17/02/22
LR2 $/Day  48,811 63,113.27 100,127.10 20/12/22 - 4,162 17/02/22
Affinity Index Index  132 158.62 269.28 27/12/22 7.43 15/02/22