Rates decline as January concludes
Following a robust beginning to 2025, influenced by sanctions and geopolitical developments, the tanker market experienced a more subdued week with an overall easing in major sectors. Notably in the West, Suezmax rates faced downward pressure due to decreased activity and an excess of available vessels.
Downturn caused by sudden drop in demand
In a similar fashion, Aframax rates held steady in the UK-Continent, but weakened in the Mediterranean as an early surge in short-haul demand diminished by the week's end. Shipowners are monitoring market trends, striving to stabilize rates as activity is expected to increase in February.
Source : Clarksons Research : Clarksons Research