Tanker fixing activity slowed this week, leading to a dip in rates across the board that are expected to be temporary.

The Baltic Dirty Tanker Index slipped 16 points to 1,461, while the Baltic Clean Tanker Index dipped 12 points to 1,150, with few gains to be had on individual routes.

“VLCC rates dipped this week, in the most part due to the Golden Week and associated holidays in the Far East, which has kept the market very quiet,” the Baltic Exchange said in its weekly note.