Spot rates for suezmax tankers are continuing to give back gains made since the start of Moscow’s war on Ukraine, touching a new post-invasion low as a quieter chartering market meets building vessel supply.
The Baltic Exchange’s measure of time-charter equivalent (TCE) earnings started June at $8,510 per day, a level not seen since the day Russian troops poured over the border on 24 February but still somewhat better than the loss-making rates that preceded the invasion.
