TD25
Meaning
TD25 is the Baltic Exchange benchmark Aframax route for a 70,000-tonne crude cargo from the US Gulf (Houston) to Rotterdam.
Also written as TD25 route, USG/UKC Aframax
TD25 explained
TD25 tracks the US crude export trade to Europe on Aframaxes, which grew with US shale production. The voyage is about 5,000 nautical miles.
Related terms
Aframax
An Aframax is a tanker of about 80,000 to 120,000 deadweight tonnes, carrying around 600,000 to 750,000 barrels, common in short and mid-haul crude trades.
Baltic Exchange
The Baltic Exchange publishes daily freight assessments for benchmark tanker routes, such as TD3C, which the market uses as reference rates.
UKC
UKC (UK-Continent) is the market term for the discharge and load region from the UK across North-west Europe, roughly Le Havre to Hamburg.