Tanker earnings are running well ahead of their average levels over the past nine months, as sanctions tighten capacity.
Analyst Omar Nokta and his team at investment bank Jefferies believe much firmer rates have been supported by increased cargo flows and a smaller compliant fleet.
“Across all segments, spot rates today are above their first-quarter averages, and above their second-half 2024 averages, which is noteworthy considering the spring months typically are softer than peak winter season,” the analysts said.
