The Suezmax segment experiences growth during an overall quiet week
This week has been relatively quiet across the main EMF markets—tankers, LPG, and PCTC—with no significant changes. The tanker market showed some positive momentum, particularly in the Suezmax segment, which saw a weekly increase of 10%. The route from the Persian Gulf to the Mediterranean via the Suez Canal recorded the most significant weekly growth at 23%, highlighting the market's strength. Product tankers also experienced a slight rise in earnings.
The VLGC market remains weak – a recovery is expected by summer
The LPG and PCTC markets have remained stable with limited activity. VLGC rates have seen a slight increase due to reduced tonnage availability, but overall, the market is expected to remain weak until the second half of 2025, when U.S. export capacity is set to rise, potentially driving rates up. Seasonal trends indicate a rate increase as summer approaches, and with the slow pace of newbuild deliveries and the planned expansion of export capacity by 8 mtpa in the Netherlands for the latter half of the year, we anticipate 2025 to be an average year with healthy levels.
Information provided by Clarksons and Fearnleys