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Tanker Markets Still Looking for Sustainable Recovery The tanker market in April was still in backwards mode. In its latest monthly report, OPEC said that dirty tanker rates declined in April, as the improvement seen in March in the Suezmax and Aframax classes proved temporary and VLCCs rates moved sideways. Rates fell as gains in the Atlantic Basin triggered by the fallout from the February big freeze in the US Gulf Coast (USGC) unwound. Clean rates rose across the board, except on the NWE-to-US East Coast (USEC) route, where rates fell back from the relatively strong levels seen in the prior two months. Dirty tanker rates are not expected to pick up until 2H21 or 2022, with the latter date more likely. The outlook for clean rates, however, is slightly more positive.

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