Increased sanctions boost overall revenues
The tanker market continues to advance positively, with average earnings for crude tankers rising by 16% week-on-week to exceed $40,000 per day. This increase is mainly attributed to conventional tankers benefiting from intensified sanction activities and limited tonnage availability in Western regions.
Suezmax Earnings on a Steady Rise
According to Clarksons, earnings in the Suezmax segment have strengthened across all routes, with rates on the Mediterranean-China route via the Suez Canal increasing by 48% week-on-week. While crude tankers have experienced the most significant revenue growth, the product tanker market has also gained ground, rising by an average of 10% this week to reach around $20,000 per day. This increase is primarily driven by a consolidating MR market, supported by robust activity both east and west of Suez.
Source: Clarksons Research