Subscribe to RSS feedBaltic Sea aframax earnings rocket
AFRAMAX owners’ daily earnings in the Baltic Sea have rocketed to their highest levels since July 2008 as oil traders prevent vessels from returning to the spot market by not allowing cargoes to be discharged at North European ports.
Charterers are scrambling to secure the last handful of ice-class ships available for end-March loading dates, which has given owners confidence to quadruple their time charter equivalent earnings over a week to more than US$81,000 per day.
“What appears to...
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