The crude tanker market is generally subdued with limited momentum. The VLCC segment remained quiet overall, despite a brief midweek improvement driven by Brazil cargoes. A series of fixtures at consistent levels suggested some stabilisation, supported by steady Americas demand, but sentiment stayed fragile due to patchy enquiry and limited visibility in the East. Activity slowed again toward the end of the week, with owners holding rates amid hopes for fresh cargoes, while holidays contributed to a cautious market tone.
In the Suezmax sector, conditions softened, particularly in the Atlantic, where an influx of eastern ballasters weighed on rates after early strength in the US Gulf and Guyana. In contrast, the CPC market remained firmer due to steady demand and tighter vessel supply, while rates in eastern regions stayed elevated amid ongoing security concerns. Aframax markets were mixed, with the Mediterranean losing momentum after initial gains, while the North Sea showed firmer sentiment but lacked sufficient volume for significant rate increases.
On the product tanker side, markets were largely uneventful and under pressure. The LR2 segment saw reduced fleet size due to clean-to-dirty switching, yet activity remained minimal, with rates broadly flat and little fresh enquiry. LR1 markets experienced slightly more activity, but overall struggled, with ample tonnage—particularly in the Red Sea—likely to push rates lower. Middle East MR markets remained tight, supported by vessel preference for premium load ports, though most demand continued from West Coast India. Conversely, European MR markets weakened amid oversupply and limited stems, with rates drifting downward. Overall, geopolitical uncertainty and a lack of demand kept product tanker sentiment soft.