VLCC rates at highest level in seven years

The booming tanker market is still supplying stronger and stronger rates where especially the very large VLCC ships benefit from the low oil price.

Photo: DHT

The players in the tanker sector can currently watch their fortunes grow day after day in a market that continues to deliver extremely high rates for the season. The VLCC rates are now up at the highest level since 2008.

Clarksons Platou writes about this in an update, where the analyst agency points to VLCC rates in the range of USD 80,000 per day, compared to a daily average of USD 55,000 in the first six months of the year, and also to two thirds of the third quarter's deals on rates already being entered into on an average of USD 65,000 a day.

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