The spot rates for Aframaxes fell last week.
The main reason for this fall in earnings is weakened activity in the Baltic Sea and the UK area with Ireland due to excessive tonnage in the area. Increased production in countries such as Libya and Algeria has led to a rise in the rates in the Mediterranean. Last week, Aframaxes continued to earn significantly more than Suezmax in the spot market, which underlines the fact that the Aframax vessels are in great demand. Rates are expected to increase when US refinery maintenance period ends. What is very interesting, however, is that 12 months Time charter contracts increased another $ 750 to $ 20,250 a day. This is a very good sign and testifies that the tanker market is in a rising trend, something we have predicted throughout the winter.
Aframax – Avarage Spot : $15.601 per dag