September 14, 2025 The sharp rise in rates follows several weeks of firmer deals. OPEC’s latest Monthly Oil Market Report released last week indicated Suezmax rates up by more than a third during August with VLCCs about 20% higher on Middle East trades. Aframax owners also benefited on some key routes. Rising OPEC quotas with more increases expected from October is a also a boost, and tightening sanctions cited by New York-based broker Poten & Partners could be another positive. The broker also noted a tightening on the treatment of Russia’s frozen assets. The US would like to see the creation of a legal pathway for the seizing of immobilised Russian sovereign assets, with proceeds directed to support Ukraine’s defences.
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