The April tanker markets continued to buck traditional seasonal trends by carrying uncharacteristic rate strength throughout the month and in particular at the month's end. High crude prices, correspondingly high bunker prices and high freight rates have done little to quell transportation demand thus far.
A marked increase in longer voyages from the Atlantic Basin and Med to the East continues to be a large contributing factor while delays at load- and discharge ports in several regions have also lent support in creating a drag on efficiency. The current markets are likely to carry this strength well into May, but with a high price and high inventory environment prevailing, it remains to be seen if these strong market rates can be maintained into the summer.