It was a week of contradictory but gradually improving sentiment across both crude and product tanker markets. In the crude segment, VLCC activity was generally muted, though the week ended on a firmer note as tests from Brazil and the Gulf of Oman showed slight rate progression. A Fujairah-South Korea fixture at WS 150 and a USD 17.5 Mn TD22 voyage signalled the beginnings of a long‑anticipated turnaround. Suezmaxes experienced more visible momentum: balanced early‑week tonnage was followed by stronger enquiry - especially from South America - lifting West Africa-UKCM rates from WS 150 to WS 157.5. CPC trades held steady at WS 215, while the USG–ECM market softened due to cheaper Aframax alternatives. Aframaxes in the Mediterranean saw sharp corrections early in the week, with WS 210 repeated before softening again as activity thinned; TD19 closed at WS 200.
As for product tankers, LR2s in the AG saw improved flow as Posidonia ended, with owners cautiously optimistic as demand strengthened despite geopolitical tensions. The position list remains leaner than normal, supporting incremental rate gains, including 75 T naphtha rising from WS 200 to WS 207.5. Red Sea activity was brisk, though largely private, with Yanbu-UKCONT estimated around USD 4-4.1 Mn. LR1s had a quiet week, with TC5 edging up to WS 210 despite abundant tonnage. In Europe, NWE MRs began strongly before slowing, while Med MRs held steady at WS 145 on Med–TA, with UKC and Med routes posting modest weekly gains.