Aframax and suezmax rates are set to weaken further over the short term due to a glut of Russian exports already on the water.
French shipbroker BRS Group said these midsize crude ships have already shed more than $30,000 per day and $24,000 per day, respectively, from their late-March peaks.
The Baltic Exchange quoted suezmaxes as averaging $57,500 per day on Monday, down 16% in a week.
