Tanker Market: Rates Remained Elevated in April in Hellenic Shipping News 16/05/2026 T anker rates remained elevated during the month of April, but mostly lower from their earlier record highs, OPEC, said in its latest monthly report. In April, trade disruptions continued to impact dirty tanker spot freight rates. While price assessments on routes out of the Middle East remained elevated amid limited activities and a high degree of uncertainty, VLCC spot freight rates elsewhere declined from the record highs seen the month before. On the West Africa-to-East route, VLCC spot freight rates were down 26%, m-o-m, but were still 129% higher than the same month last year. The decline came as trade flow disruptions reduced tanker demand on key routes, boosting availability in the other regions where trade was ongoing. A similar dynamic caused Suezmax spot freight rates to moderate from the previous month’s elevated levels. On the USGC-to-Europe route, rates fell 23%, m-o-m, as higher rates in the previous month drew in tankers from areas with diminished activities. Aframax spot freight rates around the Mediterranean gave back much of the previous month’s gains, falling 17%, but were higher on the other monitored routes. Clean tanker spot freight rates strengthened further, amid trade flow disruptions and the need to source alternative supplies. Cleans spot freight rates on the Singapore-to-East route rose 36%, m-o-m, while rates around the Mediterranean were up 21% over the same period. Dirty tanker freight rates Very large crude carriers (VLCC) VLCC spot freight rates on active routes fell back from the record high levels seen the month before. This contrasted with price assessments on routes impacted by the disruptions, which continued to rise amid limited activity and a high degree of uncertainty. Combined, this allowed VLCC spot freight rates to increase, on average, 12%, m-o-m, and 479%, y-o-y. On the Middle East-to-East route, rates were assessed at WS550 in April. T