Aframax tankers led the rates race this week as there was very little activity in the VLCC and suezmax sectors.
Rates on a fleet weighted average basis for aframaxes jumped 3.7% from last week and 4.1% from last month to $36,700 per day, Clarksons Securities says.
The US Gulf to Europe route saw the biggest gains, rising to $37,200 per day for an eco ship, while cross-Mediterranean voyages remained the richest at $38,900 per day.
“The move is driven by tightness in the US Gulf, with close to all available vessels provisionally booked,” the broker said.
Clarksons said the fleet weighted average for VLCCs slipped 3.4% this week to $47,400 per day.
The same assessment for suezmaxes dropped 5.6% to $42,900 per day with the shipbroking giant blaming slow going in the Far East.
“There’s been a lack of activity this week, as China is current in holiday-mode during its Qingming Festival [4-6 April] combined with refinery maintenance in the East,” it said.
“An increase in tonnage supply in the Atlantic has also put some pressure on rates, with brokers reporting that more VLCCs are ballasting into the region.”
An eco VLCC on the US Gulf to China route was assessed as earning $38,800 per day, while the same ship sailing from the Middle East to China came in at $43,700 per day.
There were just four late-week VLCC fixtures, according to Tankers International, with rates out of the Middle East Gulf slipping from mid-week highs hitting $65,000 per day or more.
On Thursday, the Trafigura-operated 299,985-dwt DHT Harrier (built 2016) was fixed to Saudi Arabia’s Bahri for a voyage from the Middle East Gulf to Malaysia at $26,237 per day.
Friday’s sole fixture recorded by the pool was for the 312,328-dwt Asian Progress VI (built 2019).
The MOL-linked, Equinor-operated vessel was fixed to GS Caltex Oil Corp for $48,675 per day to carry oil from the Middle East to South Korea.
Both ships will load in late April.
Meanwhile, the biggest dip in suezmax rates week on week was on the West Africa to Europe route, where rates for an eco ship fell 7.8% to $42,600 per day.
