2025 kicks off with forceful momentum

Tanker rates have surged this week, largely due to the immediate impact of OFAC (The Office of Foreign Assets Control) sanctions on the physical tanker trade. The United Statesrecently sanctioned more than 180 vessels — mainly tankers — and some Chinese and Indian ports have begun banning these ships, reducing available tonnage and driving rates sharply upwards.
Read more: https://maritimefinance.eu/ofac-sanctions-send-tanker-demand-soaring.

While the entire tanker market has improved, crude tankers are currently leading the surge. According to Pareto Securities, spot rates for crude have doubled since December, and many analysts expect these elevated earnings to hold. Further upside could follow if a Trump presidency expands OFAC’s sanctions list and if OPEC+ unwinds production cuts in March, tightening supply further.

Source: Pareto Securuites & Clarksons Research