No news is good news: Market conditions remain stable this week
The past week has been stable, with no significant developments to report regarding earnings. The tanker market remains robust, with average earnings for crude tankers now exceeding $55,000 per day, bolstered by firmer VLCC market conditions.
According to Fearnleys, the spot rates for modern Suezmax tankers equipped with scrubbers average around $65,000 per day, highlighting the current strength of the segment.
The vehicle market wavers under the impact of tariffs
Regarding the VLGC and PCTC markets, global car sales slightly declined in March, likely due to ongoing trade tensions between China and the United States. Additionally, the VLGC market has stabilized following a period of tariff-related volatility, although chartering activity remains limited.
Source: Research by Clarksons and Fearnleys