Americas Aframax rates surge to record high as shipowners regain upper hand
Aframax freight rates for the Vancouver-China route reached an all-time high on Sept. 10 as shipowners seized on tight tonnage amid strong global demand. “Blood in the water and the owners are sharks,” one shipbroker said. Shipowners weighed earnings out of Vancouver against a strengthening market in the Far East and Arab Gulf, where owners ...
Aframax freight rates for the Vancouver-China route reached an all-time high on Sept. 10, reflecting shipowners' regained upper hand in the market. Tight tonnage and strong global demand have led to a surge in rates, with the benchmark 80,000 metric ton Vancouver-China rate now at $7.5 million, the highest level since Platts started publishing the assessment in October 2024.
The market has also seen a significant increase in the US Gulf Coast-UK Continent/Mediterranean route, with the benchmark 70,000 mt route reaching $450, the highest since April 28 and a $140 increase in a single day.
Brief written by urgent.news from Hellenic Shipping News's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
