Freight rates for tankers were weaker across the board at the outset of 2017 as vessel queries and chartering activity remained muted.

The Baltic Exchange's assessment for average VLCC time-charter equivalent rates from the Middle East fell 16% to $38,132  per day, from the last assessment at 23 December. Average suezmax rates were down a similar percentage to $29,321 per day, while aframax rates were down 13% to $18,124 per day.

Tankers