Tanker rates are climbing in the face of this week’s tariff turmoil.

VLCCs shot up nearly 10% from Monday, according to Clarksons figures, while suezmaxes made more modest advances against the backdrop of on-then-off US tariffs against Canada and Mexico and tit-for-tat tariffs between the US and China.

“If rerouted to shorter-haul destinations, crude ton-miles could decline by just 0.3%,