Brokers are noting a shift in the period tanker market as clean carrier rates shoot up on Red Sea disruption.

Charterers are seeking to hedge their freight costs over longer terms, with spot levels expected to remain elevated for at least another year.

Greece’s Metrostar Management is said to have fixed out the 115,000-dwt Metro Aegean — Hull No 525 at Hyundai Vietnam — to Glencore’s ST Shipping for five years.