An aframax tanker spot market indicator fell below $20,000 per day for the first time since October 2023 as markets west of the Suez Canal offered shipowners little support to prevent the slump.
The drop continued a decline since rates peaked at $58,200 per day in June.
The Baltic Exchange’s assessment of average aframax crude tanker time charter equivalent earnings rates fell by $414 on Wednesday to dip just under $20,000 per day, marking a 8.9%
