Mid-size tanker spot rates remain firm, though volatile, while positive long-term supply fundamentals remain intact

Although mid-size tanker rates have come off the highs of Q1-23 they remain very firm on a historical basis supported by increasing tonne-miles on key trade routes. While there are some potential near-term and seasonal headwinds on the horizon, we expect the tanker market to remain firm through the remainder of 2023 with continued strength over the next 2-3 years due to very strong fleet supply fundamentals.

Watch Christian Waldegrave‘s monthly tanker market update for more.