Suezmax rates rise by 25% in strong week overall

The crude tanker market had a strong week, with VLCC rates on the MEG-China route rising 10.6% to around $50,000/day, according to Fearnleys. The Suezmax segment also saw a significant 25% week-on-week increase, reaching $40,000/day, reflecting solid market momentum.

Upside predicted for 2nd half of 2025 as US export increases

In the VLGC market, rates may gain traction as we move past winter, with stronger exports driven by improved arbitrage. However, Fearnleys Securities believes that the key driver will emerge in 2H25, when US export capacity expands, potentially boosting rates further. Therefore, despite current softness, Fearnleys Securities sees upside potential as seasonal weakness subsides and the market focuses on the second half of 2025.