Denmark, Copenhagen – 22 December 2024.  

The Aframax market had a mixed performance this week. In the UKC, rates saw a slight increase as charterers focused on safer itineraries ahead of Christmas. Meanwhile, activity in the Mediterranean/Black Sea region helped stabilize the market. With the holiday season approaching and limited tonnage available, rates could strengthen further as charterers secure vessels in advance.

Although Q4 rates are underperforming across the tanker segment, Fearnleys predicts a potential rate rally in Q1, driven by shifting seasonality, offering a more positive outlook for the months ahead.

Source: Clarksons Research, Fearnleys research.