The first week of December has seen a mixed outlook for crude oil freight rates. While VLCCs and Suezmax show signs of steady momentum, Aframax rates continue to face downward pressure. VLCC MEG-China rates held around 67 WS, indicating a steady trend. Suezmax rates for West Africa to continental Europe remained above 100 WS, showing improvement from the previous year. Aframax Med rates experienced downward pressure, reaching WS140 levels. In the clean segment, LR2 rates firmed, while Panamax rates weakened. MR1 rates for the Baltic continent held firmer momentum, while MR2 rates varied. The vessel supply trend shows an upward trajectory in crude oil markets, with an increase in VLCC and Suezmax figures. In the clean segment, LR2 vessels decrease, while MR1 vessels increase. The demand scenario presents an upward trend in the Aframax segment but decreasing trends in VLCCs, Suezmax, Panamax, and clean MR tonne day

SOURCE:GOOGLE