Suezmax and aframax spot rates are surging, with particular strength for journeys across the Mediterranean.
Aframax rates on the TD19 cross-Mediterranean trade have risen to $30,500 per day, 211% more than the $9,800 they were earning last week, according to data from Clarksons Platou Securities.
"Aframaxes are gapping up in the European markets as rates fast approach year-to-date highs, with our tanker desk noting the effects of a lingering tight tonnage list compounded by elevated delays through the Turkish Straits," wrote the shipping analysts for the Clarksons investment banking firm.
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