The flurry of fixtures in the Caribbean has drained the availabilityof tonnage in the Atlantic basin, brokers say.
Mediterranean rates have hit $45,000 per day, up by aquarter overnight from $36,000 yesterday.
Charterers are paying out 60% more than a week ago and threetimes the level seen this time last year.
Suezmax rates from West Africa to the US have also been onthe up since the pre-holiday squeeze began, brokers say.
A spot fixture costs $34,000 per day, little changedovernight but up by around a third since last Friday.
West Africa is likely to stay tight until the end ofthe year, brokers say.
The sudden surge in suezmax activity follows the recentrally in VLCC rates with aframaxes likely to follow suit.
In its daily market report Global Hunter Securities said itis only a matter of time before the Mediterranean responds, with rates currentlylanguishing below the $8,000 per day mark.
