Middle East war fears send aframax and suezmax rates skywards
Fears over Israel’s conflict with Iran and its proxies in the Middle East have sent tanker rates skywards.
The Baltic Exchange’s suezmax time charter equivalent assessment shot up nearly 21% to $29,329 per day on Wednesday, while the aframax reading went even higher: 49.6% to $34,379 per day.
Clarksons analyst Frode Morkedal said: “Rising tensions in the Middle East, combined with higher oil prices, may boost shipping activity.