Suezmax leads as rates rise again
The tanker market remains robust this week, with the Suezmax segment showing the most significant increase. According to Fearnleys, Suezmax spot rates have risen by 16% week-on-week, surpassing $50,000 per day. The Aframax and LR2 markets have also demonstrated notable improvements.
Gas and automotive markets stable for now
On the other hand, the LPG and PCTC markets remain relatively stable, with minimal fluctuations in activity and rates. Although VLGC spot rates on the key Houston-Chiba route hold steady at around $24,000 per day, the gas market is expected to strengthen later this year, with a more pronounced recovery anticipated in 2026 (read more here [link to Article 3]). The PCTC market also remains robust, with 12-month time charter rates stable at $65,000 per day. While this represents a decline from the peaks of 2023 and 2024, the rates remain well above profitability levels, reflecting the segment's enduring resilience.
Source : Fearnleys and Clarksons Research