Dirty tanker spot freight rates experienced a considerable uplift across all vessel classes during September, as reported by OPEC in its latest monthly publication, as reported by Hellenic Shipping News Worldwide. This increase was primarily attributed to various market factors, including trade disruptions, inefficiencies in export operations, and longer transit routes, all of which collectively tightened the availability of tankers.
Very Large Crude Carrier (VLCC) rates saw a near doubling on most routes that were monitored. However, the West Africa-to-East route registered an even more pronounced surge, with rates approaching a tripling of their previous levels.