Oil Tanker Rates Staging A Comeback ...Middle East

Tanker markets staged a comeback in August, and this time the rebound wasn’t subtle. Suezmax rates shot up 34% month-on-month, according to OPEC’s latest Monthly Oil Market Report published on Thursday, with the West Africa–US Gulf Coast run alone surging 38%. VLCCs weren’t far behind, climbing 19% on Middle East–East routes. Even the humble Aframax joined the party, racking up a 23% gain on Caribbean–US East Coast voyages. Clean tankers, on the other hand—i.e., tankers carrying refined petroleum products—looked…

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