Rising VLCC rates and a busy Atlantic market have helped push suezmax rates upward.
The Baltic Exchange’s suezmax time charter equivalent assessment jumped from $66,605 per day last week to $75,393 per day on Friday, after dipping to $65,944 per day on Monday.
The increase came as brokers reported more activity all across the globe.
“Activity has improved in the [Middle East] for suezmaxes alongside a firming VLCC market, as such owner opportunities have grown, and charterers are likely to find them far less malleable,” Gibson Shipbrokers said in its weekly report.
