The Connecticut outfit said rates seen in the region are thestrongest they have been on a time-charter equivalent (TCE) basis sinceDecember 2010.
Aframax earnings in the Caribbean averaged $20,000 per day inMay, while the European market that began the rally have seen rates slump backto half of that.
“The impact of lightering activity for aframaxes along the[US Gulf] have been widely reported as adding support to Caribbean rates by reducingthe supply of tonnage available to service regional cargoes,” wrote seniormarket analyst George Los.
