Tanker Market Softened Last Month
TThe tanker market has softened for the past month, Opec said in its latest monthly report. The development of sanctions and tariffs has maintained trading of goods close to an average of five years, although below the strong level seen in 2022 and 2023. VLCC tariffs softened in March due to support from uncertainty related to sanctions to increase long-term demand in previous months. VLCC spot delivery rates on the Middle East to East route dropped 3%, while the tariff on the Middle East to the west route fell 6%, BU. Meanwhile, spots for spots in the Suezmax market rose higher, up 5%, Mrs., on the African-USGC West route. In the Aframax market, cross-MED spots rose 4%, ma’am. In the clean tanker market, spots on spots rise with East Suez assessed that up 15%, ahead of the vacation in the region. West of the Suez rate rose 8%, in the midst of recovery of the flow of the Bay Coast.
Dirty tanker transportation rates
Very Large Raw Operator (VLCC)
VLCCS decreased on all routes monitored in March as a support for uncertainty regarding approved crude oil flow. On average, the VLCC spot transportation rate dropped 4%, ma’am. VLCC spot rates fell 18% of the strong levels seen in the same month last year.
On the Middle East to East route, the average WS60 tariff in March, representing a 3% decline compared to the previous month, amid a decline in flow to South Korea and China. 14% lower rates, yoy. Spot freight tariffs on the Middle East to West route decreased by 6%, BU, to WS34 on average, in the middle of a lower flow to the US amid trade uncertainty. Compared to the same month in 2024, the tariff dropped 28%. Spot freight tariffs on the African-to-western route dropped 3%, Mrs., to WS61 on average in March, although there was a VLCC leap flowing out of Nigeria. Compared to the same month in 2024, the tariff dropped by 14%
Suezmax
Spot transport tariffs for the Suezmax ship in the Atlantic Basin continued to be higher in March, supported by steps to rise from the flow of Brazil and, at a lower level, Canada. The spot level rose 6%, mother, average, but down 10%, yoy.
On the West African to USGC route, the spots for spots in March averaged WS87, representing an increase of 5%, Mom. The 12% spot tariff is lower than the same month in 2024. The tariff on the USGC-TOEUROPE route increased by 8% to the average WS82. Compared to the same month in 2024, the 7% tariff is lower.
Aframax
Aframax Spot Freight Rates posted simple profits further, up 7%further, Mom, in March. Spot Aframax rates dropped 16% compared to good performance last year. The tariff on the Indonesia-to-East route rose 7%, Mom, became an average WS131 in March. Yoy, the tariff on the route drops 22%.
The tariff for caribbean-to-kuno spots jumped 12%, BU, to WS137 on average. Compared to the same month last year, the rate of 11% was lower. Cross-MED spot transport tariffs rose 4%, mothers, average WS137. Yoy, the spot rate on the route drops 14%. Likewise, the tariff on the Med-to-Northwest Europe (NWE) route increases 4%, Mom, for the average WS132. Compared to the same month in 2024, the tariff dropped 16%.
Clean the Tanker Transportation Rates
Clean Spot Goods Rates, Mother, in March. The tariff to the east of Suez rose an average of 15%, while interest rates to the west of Suez rose 8%. Compared to the previous year, the east of the Suez level fell 35%, while in the west the Suez level dropped 31%.
The tariff on the Middle East to East route jumped 22%, BU, to WS158 on average. Compared to the same month in 2024, the tariff dropped 36% lower. The clean spot delivery rate on the Singapore-to-East route rose 9%, BU, to the average WS184 in March. This represents a 34% decline compared to the same month in 2024.
In the Atlantic Basin, the net tariff on the Nwe-to-Sucec route is the average WS163. This is an increase of only 3%, mother, but a decline of 21%, Yoy. The tariffs around the Mediterranean rose 10%, Mom, both on the crossmed and med-to-nwe routes. Yoy, the spots for spots around the Med down by around 35%.
Nikos Roussanoglou, Hellenic Shipping News worldwide
