TD19
TD19 is the Baltic Exchange Aframax cross-Baltic tanker route from Primorsk to Rotterdam; a primary route for Russian Baltic crude exports.
Last refreshed: 1 June 2026 · Appears in 1 active topic
Why did TD19 Mediterranean freight ease alongside TD7 after GL 134C?
Timeline for TD19
Mentioned in: OFAC lists RISE GLORY and Ivan Sechin
European Oil MarketsBaltic Aframax bid eases off the spike
European Oil Markets- What is TD19 in tanker shipping?
- TD19 is the Baltic Exchange benchmark route for 80,000 DWT Aframax crude tankers travelling cross-Mediterranean from Ceyhan (Turkey) to Lavera (Marseille), and is part of the Baltic Dirty Tanker Index.Source: Baltic Exchange
- What is Ceyhan and why is it important for oil shipping?
- Ceyhan is Turkey's main Mediterranean export terminal, the end point of the BTC (Baku-Tbilisi-Ceyhan) pipeline carrying Azeri crude from the Caspian Sea and of the Kirkuk-Ceyhan line carrying Iraqi crude, making it a critical alternative supply source for European refiners when Hormuz flows are disrupted.Source: Lowdown
- How does TD7 differ from TD19?
- TD7 covers the North Sea Aframax route from Hound Point (Scotland) to the Continent; TD19 covers the cross-Mediterranean route from Ceyhan to Lavera. Both are BDTI components and often diverge, with the spread indicating relative tightness between Northern and Southern European crude supply.Source: Baltic Exchange
Background
TD19 is the Baltic Exchange's benchmark freight route for dirty Aframax tankers of approximately 80,000 DWT, covering the cross-Mediterranean voyage from Ceyhan (Turkey's Mediterranean export terminal for the BTC pipeline and Iraqi Kirkuk crude) to Lavera (Marseille, France). TD19 is the primary published reference for Mediterranean Aframax crude freight and is included in the Baltic Dirty Tanker Index (BDTI). The route reflects the economics of moving Caspian (Azeri Light, CPC Blend) and Iraqi crude to Southern European refiners, principally in France, Spain, and Italy. Because the Mediterranean is a semi-enclosed basin with distinct freight dynamics from the North Sea and Atlantic, TD19 often diverges from the North Sea equivalent TD7, with the spread between them indicating relative basin tightness.
GL 134C's reinstatement of Western vessel-services cover on 18 May 2026 affected both TD7 and TD19 simultaneously, since Aframax operators trade both basins opportunistically. The compliance bid that had pushed both routes to elevated levels eased following GL 134C, with the BDTI at 2,249 on 20 May still pricing residual uncertainty. The Ceyhan-Lavera leg is particularly sensitive to Hormuz disruption because Azeri Light supply routed via Turkey bypasses the strait entirely, making it a preferred alternative crude for Mediterranean refiners when Gulf supply is constrained.
The upcoming 17 June 2026 expiry of GL 134C is the next enforcement event that directly affects TD19 freight economics: a lapse without renewal would reimpose the compliance premium on Aframax tonnage across both the North Sea and Mediterranean basins. OFAC's concurrent 28 May 2026 designation wave targeting Iran and Russia logistics — including the RISE GLORY tanker under SDGT authority — reinforced that enforcement pressure on both tracks remained active heading into the expiry.
TD19 rates are used as a hedge reference in freight derivative markets (FFAs) alongside TD7. European refiners in Southern Europe, including plants run by TotalEnergies, Repsol, and ENI, use TD19 freight assessments to evaluate the landed cost of Azeri, Iraqi, and occasionally Libyan crudes. When TD19 tightens relative to TD7, it signals that Mediterranean supply is under greater strain than the North Sea.
