Caribbean crude tanker earnings have faced downward pressure from rising tonnage supply as many shipowners shy away from trading in US sanctions-hit Venezuela.
On the Baltic Exchange, time-charter equivalent rates for aframaxes on the Caribbean-US Gulf trade dropped to about $15,600 per day earlier this week, down from $32,200 per day on 29 January.
Hire of panamax tankers on a similar route fell to $26,700 per day from $34,400 per day during the same period.
