Spot rates for suezmax tankers declined Friday, capping a week that has seen the sector under pressure.
Average earnings for crude tankers in the size class came in at nearly $29,300 per day today, a 41.5% decline from the $41,500 per day the vessels were earning this time last week, according to data from UK shipbroker Howe Robinson.
"A slower week is coming to an end and all markets have been under pressure as lists of available positions have opened up a bit in West Africa with added ballasters from the east and a few ships getting released as well," the outfit said in its weekly report.
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