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VLCC rates now exceeding USD 60,000 per day

The tanker rates are extraordinarily high for this time of year, and numerous analysts must now revise their estimates for the full 2nd quarter in light of prospects for continuously rising rates.

Photo: Euronav

The spot rate for the major VLCC crude oil supertankers has now surpassed USD 60,000 per day after high activity in the wake of Easter, and numerous analysts will now have to revise their estimates for the 2nd quarter.

Pareto Securities states in an update Friday that the current spot rates of USD 60,000 to 62,000 per day from the Middle East to Asia represent the highest level for this time of year in the new millenium.

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