Suezmax leading the pack as rates increase once more

The tanker market remains strong this week, with the Suezmax segment seeing the most remarkable increase. According to Fearnleys, Suezmax spot rates have risen by 16% week-on-week, surpassing $50,000 per day. The Aframax and LR2 markets have also shown firm improvements.

Gas, car markets holding firm for now

By contrast, the LPG and PCTC markets remain relatively stable, with minimal changes in both activity and rates. While VLGC spot rates on the benchmark Houston-Chiba route are hovering around $24,000 per day, the gas market is expected to strengthen later this year, with a more pronounced recovery anticipated in 2026 (read more here).

The PCTC market has also held firm, with 12-month time-charter rates steady at $65,000 per day. Although this is a decline from the highs of 2023 and 2024, rates remain well above breakeven levels, reflecting the segment’s enduring resilience.