August recovery tanker market stage
DIRRty tanker transport rates are mostly recovered from the previous month’s decline. Suezmax rates see the strongest profits, on average up 34%, BU, and 38%, Yoy, OPEC said in its latest monthly report. Spot transport tariffs on the West African Gulf Coast route (USGC) jumped 38%. The VLCC spot delivery rate is revoked by the route that ends east of Suez. Spot transport tariffs on the east to east route rose 19%, Mom, while the tariff on the east to west route rose 3%more moderate.
Afframax markets are diverse. Spot goods tariffs around the Mediterranean rose by around 9%. Conversely, the tariff on the Indonesia-to-East route decreased 7%, BU. In the clean tanker market, the spot tariff is widely lower, with only the Middle East-East route that registered positive growth, up 13%. The tariff around the Mediterranean decreased by 1%, BU.
Dirty tanker transportation rates
Very Large Raw Operator (VLCC)
VLCC spot delivery rates rise, Mother, in August, driven by profits to the east of Suez. The average, VLCC spot transportation rates increased by 11%, mothers, and increased 7% compared to the same month last year. On the Middle East to East route, the average WS57 tariff in August, representing an increase of 19% from the previous month. The tariff is 14% higher, yoy.
Spot freight tariffs on the Middle East to West route also increased, up 3%, Mom, to the average WS34. The tariff is also higher than the same month in 2024, an increase of 3%. On the African-to-western route, the spots for spots rose 14%, BU, to the average WS58. Compared to the same month in 2024, a 5% tariff is higher.
Suezmax
Spot transport tariffs for the Suezmax ship showed an average strong performance in August, soaring by 34%, Mom. Compared to the same month last year, the average rate for the 38% higher ship class. On the West African to USGC route, the spots for spots in August averaged WS101, representing an increase of 38%, Mom. Compared to the same month in 2024, the spot rates on the route rose with 38%similar. Rates on USGC-to-European routes rose 31%, BU, to WS88 on average. Compared to the same month in 2024, the tariff is 40% higher.
Aframax
Aframax Spot Freight Rates also see profits in August. Average, the Aframax level rose 9%, ma’am. Compared to the same month last year, the tariff for the ship class averaged 10%. The Indonesia-to-East route is the only exception for positive performance on all dirty tanker routes monitored in August. In August, the dirty spot delivery rate on the route fell 7%, Mother, to WS109. Yoy, the tariff on the route fell 23%.
Conversely, the spot transportation rates on the Caribbean-As-US Route of the East Coast (Usec) jumped 23%, the mother, to the average WS160. Compared to the same month last year, the tariff of 44% was higher. Spot goods tariffs around Mediterranean sees more moderate profits. The cross level rose 10%, mother, average WS144. Yoy, the spot rate on the route rose 14%. The tariff on the Med-T-to-Northwest Europe (NWE) route increases 8%, mothers, to WS137 on average. Compared to the same month in 2024, the tariff rose 14%.
Clean the Tanker Transportation Rates
The net spot transportation tariff is slightly lower on most of the monitored routes, with the exception of the East Middle East trip, which records positive performance. This allows the eastern level of Suez to record an increase in an average of 5%, BU, while in the west the Suez level decreases by 1%. Compared to the previous year, the east of the Suez level rose 12%, while the level to the west of Suez dropped by an average of 8%.
The tariff on the Middle East to East route against the general decline trend, up 13%, BU, to the average WS163. Compared to August 2024, the tariff was 19% higher. The net spots on the Singapore-toeast route slip 1%, BU, to the WS160 average. However, this is still a 6%increase compared to the same month in 2024. In the Atlantic Basin, the net tariff on the Nwe-to-Sucec route is the average WS111, representing a 1%decline, mother, and 23%, Yoy.
The tariffs around the Mediterranean also rose lower, with the average WS152 cross, representing a decline of 1%. The tariff on the med-to-nwe route on average WS162, also represents a decline of 1%. Yoy, the spots for spots on both routes are down 1%.
Nikos Roussanoglou, Hellenic Shipping News worldwide
