The latest updates from the tanker market reveal varied trends across different vessel classes, reflecting ongoing dynamics in global shipping.
VLCC Market Overview
July has seen a gradual increase in stems in the VLCC market, following a relatively light June with fewer than 140 cargoes. Rates have shown signs of stabilization around WS 50 for TD3, despite a recent decline in offers from Chinese charterers.
Suezmax Market Insights
The Suezmax market remains active in the West, buoyed by a steady flow of cargoes. Rates for TD20 are expected to range between WS 110 to 112.5, with TD06 holding steady around WS 122.5. However, the Middle East Gulf market has experienced sluggish activity, with rates reflecting weaker sentiment.
Aframax Market Conditions
In the North Sea, Aframax rates have remained stable as tonnage lists balance during the natural fixing window. Meanwhile, the Mediterranean market has softened, prompting competitive dynamics among owners and charterers as they navigate a downward cycle.
Overall, while certain segments like the Suezmax show resilience with active trading, others such as the Mediterranean Aframax sector face challenges amid fluctuating demand and competitive pressures.
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Source: Fearnleys
