Suezmax tanker rates leapt forward on Thursday, with several market indicators showing that spot earnings have increased by double or more in 24 hours.

The rise came on the back of hot aframax rates for voyages out of the US Gulf Coast, luring suezmax owners to the smaller cargo stems.

The Baltic Exchange’s assessment of time charter equivalent rates for the sector leapt by 103% in a day to reach almost $33,000 per day.