Spot earnings of suezmax crude tankers have reached the highest in about four months, with healthy charter activity in West Africa and elsewhere giving shipowners a shot in the arm.

According to Clarksons Platou, suezmax earnings rose 73.2% week-on-week to $26,700 per day on Wednesday, compared with daily earnings of VLCCs at $13,600 and aframaxes at $14,500.

“The suezmax segment was the biggest beneficiary of firmer sentiment out of West Africa,” Deutsche Bank analyst Amit Mehrotra said.

“This may be a short-term blip as we see available tonnage in the market; however, it provides an important reminder of how quickly—and unexpectedly—spot shipping rates can tighten.”