Suezmax spot rates hurtled to the highest level since January, as charterers rush to pick up tonnage to carry increased West African output.
The Baltic Exchange’s average time-charter equivalent rate jumped 10.5% today alone to approach $36,300 per day.
It was the 18th straight trading day of increases, meaning that September has seen not a single red day.
“West Africa has gone from strength to strength,” said the Baltic Exchange in its weekly tanker briefing.
