The tanker market showed mixed results during the past month, OPEC said in its latest monthly report. Dirty tanker spot freight rates showed mixed movement in September. VLCC spot freight rates surged as increasing outflows from the Middle East worked through available tonnage lists. Spot freight rates on the Middle East-to-East route jumped 56%, m-o-m, and similar gains were seen on rates on the Middle Eastto-West route.
Activities were more muted in the Suezmax market, although balanced tonnage kept the market firm. Rates on the West Africa-to-US Gulf Coast (USGC) route edged up 3%. Aframax spot freight rates saw mixed movement as disruptions limited tonnage demand in the Mediterranean. Cross-Med spot freight rates fell 6%, m-o-m. In contrast, rates on the Indonesia-to-East route rose 16%, m-o-m.
In the clean tanker market, spot freight rates were also mixed. Some improvement was seen in short-haul rates, while refinery maintenance limited Middle East clean tonnage demand. Rates on the Middle East-toEast route declined by 10%, m-o-m, while rates on the Singapore-to-East route increased by 5%, m-o-m.
Dirty tanker freight rates
Very large crude carriers (VLCC)
VLCC spot…