Aframax spot rates in the Mediterranean surged to a new 2016 high Tuesday as chartering remained active in a market already lifted by Libyan export volumes.
The Baltic Exchange reports that the spot rate on the TD19, which covers the cross-Mediterranean trade, jumped $1,060 today to hit $33,900 per day.
That marks the highest level since Christmas Eve and represents a more than eightfold increase since this time last week.
