Supertankers sail at negative rates: "The reality is more complex"

The crude oil market is currently so bad for carriers that very large crude carriers (VLCCs) are sailing at negative rates on the spot market. ShippingWatch has spoken with analysts, who explain the calculation behind the rates.

Photo: AET

Crude oil carriers are waiting patiently for the market upswing they have predicted for more than a year but so far has failed to appear. At least when looking at spot rates, currently negative for supertankers (VLCCs).

Overall, the market is quite poor at the moment, states DNB Markets to ShippingWatch.

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