A rise in suezmax tanker rates to the highest level in five months has led owners of larger VLCCs to look over the fence.
The Baltic Exchange’s assessment of time charter equivalent rates for suezmaxes has surged to nearly $59,900 per day.
That is a one-day climb of 12.1% and a 534% jump since TCE rates hit their lowest point of the year slightly more than a month ago.
