Caribbean Aframax Seasonal Hike Ahead?

Earnings for TD9 have been the highest average year to date, $12,700, since 2010 and compare very favorably to the 2011 average of $4,200. A rare Aframax summer surge was driven by delays at ports in the US Gulf and an increase in lightering work following the most recent Motiva outage in the mid-summer months. Owner resistance has been firm this year for earnings below $5,000/d or WS 80, helping maintain a floor for rates. Rates had approached that floor level very recently with several prompt ships in the region. But can owners look forward to the potential for a late season earnings jump? Download here