Freight

TD20

Freight - DPP

WAF grades are struggling to look competitive into Europe or the East thanks to strong Dated prints.

TD20 remains just-about negative on its RBI.

Source: Freight DPP Dashboard, TD20

The high landed prices for crude mean there is no real bullish impetus here though.

TC2 bearish

Freight - CPP

Gasoline arbs are largely workable out of ARA, but crucially both New York (closed RBOB arb) and WAF (Dangote restart) are unlikely to provide prompt support.

Vessel supply has lengthened considerably following an early-Feb spike in rates.

Source: Freight CPP Dashboard, TC2

A floor should be found once vessel length clears as other gasoline export avenues are set to remain open.