Spot rates for suezmaxes on the benchmark trade out of West Africa have fallen to their lowest level on record as supply disruptions continue to batter the market.
Brokers say fixtures today for West Africa liftings brought a rate of WorldScale (WS) 50 for a trip to Europe.
That's a drop from assessments of WS 55 yesterday on the TD20 route.
Data from the Baltic Exchange estimate time charter equivalent (TCE) at just under $11,600 per day, which marks a 13.7%
