Suezmax spot earnings fell to a more than two-year low as an oversupply of cargo-free ships put charterers even more firmly in the driver's seat.
The Baltic Exchange's average time-charter equivalent rate for suezmaxes slumped by $1,210 today alone, bringing the the day's estimate to about $5,640 per day.
The drop came as the TD20 route between West Africa and Europe ended the week at WorldScale 40.6,
