Spot aframax tanker earnings in the Caribbean have plummeted to their lowest level in more than four years as vessels drawn to the region in an earlier rate spike drag down the market.
The Baltic Exchange assessment for the TD9 route between the Caribbean and US Gulf dropped 30% today to hit $1,460 per day.
That is the lowest that the Baltic Exchange assessment for the TD9 has reached since September 2012, according to data from the exchange.
