TD3C
Meaning
TD3C is the Baltic Exchange benchmark VLCC route for a 270,000-tonne crude cargo from Ras Tanura, Saudi Arabia, to Ningbo, China.
Also written as TD3C route, MEG/China VLCC
TD3C explained
TD3C is the most watched rate in the tanker market and the reference for VLCC earnings. It is a long-haul voyage of roughly 5,800 to 6,000 nautical miles via the Strait of Hormuz and the Malacca Strait, followed by a long ballast leg back to the Gulf.
Related terms
VLCC
A VLCC is a very large crude carrier of roughly 200,000 to 320,000 deadweight tonnes, carrying about 2 million barrels of crude oil.
Baltic Exchange
The Baltic Exchange publishes daily freight assessments for benchmark tanker routes, such as TD3C, which the market uses as reference rates.
Strait of Hormuz
The Strait of Hormuz is the narrow passage between the Arabian Gulf and the Gulf of Oman through which most Middle East crude exports pass.
Malacca Strait
The Malacca Strait between Malaysia and Sumatra is the main route from the Indian Ocean to East Asia, used by most Gulf to China tanker voyages.
MEG
MEG (Middle East Gulf), also written AG (Arabian Gulf), is the market name for the Persian Gulf load region, the largest source of seaborne crude.