Kazakh exports boost current rates surge

The crude tanker market is holding firm, with average weighted earnings now at $35,000 per day – a 14% increase week-on-week and the highest level since June 2024. The upswing is supported by a strong VLCC sentiment, a surge in Kazakh crude exports via the Black Sea benefiting the Suezmax segment, and continued firmness in the Clean Petroleum Products market in the East.

VLGC sector continue an upward trend
The VLGC segment has also seen notable gains, particularly in the East, where earnings on the key Ras Tanura-Chiba route jumped 50% week-on-week. The Western market also saw positive movement.

In the car carrier segment, activity remains steady. However, one highlight is Wallenius Wilhelmsen securing a $2 billion, 10-year contract agreeing to provide logistics and other services to their partners, underlining continued strength in the sector.