Global tanker freight rates have dropped significantly
11.04.2024 - 15:33
During March 2024, rates for tankers in the MR (Medium Range), LR (Large Range) and VLCC (Very Large Crude Carrier) segments fell.
Spot freight rates for food tankers in the Middle East – Japan direction have decreased. This is reported by MOL analysts with reference to data from Clarksons Research.
Thus, the average spot rate for MR class tankers in March decreased by 14.5%, compared to the previous month — to $37.56 thousand/day. Compared to March last year, the rate increased by 37.6%.
The average spot rate for LR food tankers in March decreased by 16.4%, compared to the previous month. This indicator was about $42 thousand/day. At the same time, the growth compared to March of the previous year amounted to 12.3%.
Spot freight rates for VLCC tankers in March decreased by 11.5%, compared to the previous month. This indicator was $42.65 thousand/day. At the same time, rates turned out to be twice as low as in March 2023.
Previously, USM wrote that the number of contracts for new tankers increased by 490%.
See also: A pipeline used to pump oil to tankers was blown up in Russia (video)
