Tanker Market shows a mixture movement in June
THe Tanker Market exhibited various performance during the previous month, Opec said in its latest monthly report for June. Dirty tanker transport rates continue to see mixed movements in June. VLCC rates are unstable during the month due to geopolitical development, although the surge in the middle of the middle of the month is matched by a decline near the end of the month, producing VLCC rates remain widely flat. On the Middle East to East route, the VLCC spot goods tariff has not changed, but an increase of 6% on the east to west route, recovered from the low level seen in the previous two months. VLCC rates on the eastern route of West Africa fell 6%, in the midst of a lower flow to China.
Suezmax level decreased averaged in June, despite geopolitical volatility, because the activity remained slow. Spot fares on the bay route to the coast abroad decreased 3%, ma’am. Conversely, the Aframax level shows a slight average profit in June, supported by an increase in activities to the east of Suez at the end of the month. The tariff around the Mediterranean fell by around 3%. In the clean tanker market, spot tariffs are also diverse. The East of Suez level rose 11%, Mom, driven by geopolitical concerns in the middle of the month, followed by pickups in activities. The Suez level in the west decreased by 8%, Mother, in the middle of a softer fundamental around the Mediterranean.
Dirty tanker transportation rates
Very Large Raw Operator (VLCC)
Spot VLCC transport tariffs are widely stable, Mom, in June, because a slightly softer level on the Middle East to east route is balanced by an increase on the Middle East to West route. On average, the VLCC spot goods tariff has not changed, but an increase of 9% compared to the same month last year. On the Middle East to East route, the average WS60 rate in June, has not changed from the previous month, because the surge in the middle of the month matches the decline near the end of the month. Rates rose 18%, Yoy. Spot freight tariffs on the Middle East to West route rose 6%, Mom, to WS35 on average, recovered from a relatively low level seen in the previous two months. Compared to the same month in 2024, the tariff has not changed. On the African-to-western route, spots fares fell 6%, BU, to average WS58. Compared to the same month in 2024, the tariff rose 2%.
Suezmax
Spot transport tariffs for Suezmax ships decreased in June, down the average of 4%, BU, because the activity remained slow. Compared to the same month last year, the tariff for the ship class dropped 25%. On the West African to USGC route, the spots for spots in June averaged WS77, following a 4%decline, Mom. Compared to the same month in 2024, the spot tariff on the 28% route is lower. The tariff on the USGCTO-Europe route continues to rise lower, down 3% to WS72 average. Compared to the same month in 2024, the tariff dropped 22%.
Aframax
Aframax Spot Freight Rates rose in June on a monthly basis, although weakened around the Mediterranean, with the East of Suez activity providing support. Average, the Aframax level rose 2%, ma’am. Compared to the same month last year, the tariff for the ship class is 24% lower. On the Indonesia-to-Timur route, the dirty spot delivery rate rose 2%, BU, to the average WS118 in June. Yoy, the tariff on the route drops 33%.
Spot transport tariffs on the Caribbean-to-Kuno route are partly recovered from the sharp losses seen the previous month. The tariff rose 13%, the mother, on average WS152, but fell 29% compared to the same month last year. Cross-spot transport tariffs rose lower, mothers, down 3% to average WS134. Yoy, the spot tariff on the route is 19% lower. Likewise, the tariff on the med-to-nwe route decreases 4%, Mom, to WS131 average. Compared to the same month in 2024, the tariff dropped 10%.
Clean the Tanker Transportation Rates
Clean spot transport tariffs are also mixed in June. The tariff to the east of Suez increased 11%, on average, driven by geopolitical problems in the middle of the month, followed by pickups in activities. The level of the west of Suez fell 8%, Mother, in the middle of a softer fundamental around the Mediterranean. Compared to the previous year, East Suez and West from Suez rates fell by 34% and 21%.
The tariff on the Middle East to East route jumped 14%, Mom, to WS174 on average, in the midst of a mixture of geopolitical problems and increased activities for a month. Compared to June 2024, the tariff dropped 28%. The clean spot delivery rate on the Singapore-to-East route also sees profits from the previous month in June, up 8% to the average WS171. This is still a 39% decrease compared to the same month in 2024.
In the Atlantic Basin, the net tariff decreases on all the routes monitored, because the availability exceeds the tanker’s demand. The Nwe-to-Sucec route is the average WS125, representing a 6%decline, mother, and 23%, Yoy. The tariff around the Mediterranean fell 9%, the mother, with the average Cross-MED WS147 and the Med-to-Nwe route on average WS157. Yoy, spots for spots on these two routes each dropped 21% and 19%.
Nikos Roussanoglou, Hellenic Shipping News worldwide
