North Sea and Baltic Aframax rates hit a fresh low of 2014 Thursday on the back of low demand

and with more ice-class vessels available to the market due to warm weather in Europe,shipping sources said Friday.

Freight rates on the route fell $0.47/mt on the day to be assessed by Platts at $6.57/mt Thursday,

the lowest since November 27 when the rate was $5.89/mt. Typically, Aframax rates for routes across Northwest Europe,

on the basis of 80,000 mt volumes, move in tandem with the rates on the Baltic-NWE route, basis 100,000 mt.

Freight rates on the Cross-NWE route fell $0.19/mt Thursday to be assessed by Platts at $6.55/mt,

the lowest since November 27 when they were $6.52/mt. On Friday,

shipping sources continued to peg the rates on the Baltic-NWE route within a range of Worldscale 70-72.50,

equating to $6.57-6.80/mt, and said the rate for the Cross-NWE route was w85-87.50, or $6.55-$6.36/mt.

"North Sea and Baltic Aframaxes continue to suffer as warm temperatures point to a shortened ice season.

This combined with minimal levels of inquiry has led to rates dropping significantly this week,"

a shipbroker said. Meanwhile, a charterer said: "The market is looking slightly softer so a lot of owners then typically want longer hauls.

It's a normal market mechanism."