Global tanker freight markets firmed at the start of the week, with the benchmark very-large crude carrier (VLCC) spot rate rising 4% to US$40,000 a day on 19 Aug, according to brokerage data compiled by Christa’s Tanker Fund. Suezmax earnings slipped 1% to US$44,000 while Aframax rates were steady at about US$35,000. Product carriers were mixed: long-range LR2 rates eased 3% to US$31,000, LR1s lost 2% to US$28,000, but medium-range (MR) tankers gained 2% to US$21,000. Forward freight agreements echoed the move, with VLCC and Suezmax contracts up 2% and 4%, respectively, during Tuesday morning trading. The firmer freight backdrop lifted tanker equities, which traded 1–3% higher in Europe on 18 Aug, outpacing a broadly flat wider market. Analysts cited continued geopolitical uncertainty around Russia-Ukraine discussions over the weekend as underpinning demand for both crude and clean tanker tonnage.