Tanker: Record year for Suezmax spot rates

CEO of Nordic American Tankers, Herbjørn Hansson, points to several things indicating a rebound of the crude oil market.

Broker reports are currently quoting spot rates for the Suezmax crude oil tankers at around USD 35,000 per day, and that is the highest level in 1-2 years, says CEO Herbjørn Hansson of Nordic American Tankers (NAT) in an early New Year's brief to the company's shareholders.

"The tanker market for crude oil has strengthened considerably during the last few weeks. The stronger market manifested itself first in the super tanker sector (VLCC), and is now having a positive impact on the Suezmax sector. The longer it lasts, the better. We obviously see the recent development as a positive sign," says Herbjørn Hansson, pointing to several bright spots in the market:

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

For Coca-Cola, chartering vessels is by no means a foreign concept

Coca-Cola made a splash when one of the company's execs recently informed that it had chartered three dry bulk vessels as a result of the strained supply chains. It's a frequently used method, the company tells ShippingWatch. Nike expects shortages of products in coming quarters.

Further reading

Related articles

Trial banner

Latest news

See all jobs