Last week, Fotis Giannakoulis of Morgan Stanley pointed out that daily levels for tonnage involved in the carriage of cargoes from West Africa to Europe and China hit $51,000.
The forecaster noted this average, which followed a 43% surge, represents a high that has not been seen since the start of 2015.
“The spike in suezmax rates came as West African chartering activity jumped 52% week-on-week to 35 [million barrels] after two relatively slow weeks,” he added.
“With
