ShippingWatch

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.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Ørsted wants Maersk as customer in green methanol project

Energy company Ørsted has just bought 45 percent of Swedish Flagship One, which is set to produce green methanol for the shipping industry as of 2024. Ørsted's head of hydrogen wants Maersk as customer in the large scale project, he tells ShippingWatch.

Singapore names its biggest bunker suppliers

TFG Marine, a bunker company founded by two John Fredriksen-controlled carriers and commodity trader Trafigura, is among the five biggest bunker suppliers in Singapore in 2021. See the list here.

Record number of ships passed through Suez in 2021

Despite the blockage in the Suez Canal during spring of last year, the crucial waterway set a record for the number of ships passing through in 2021, reports Bloomberg. The canal is expected to complete an expansion by the middle of next year.

Further reading

Related articles

Latest news

See all jobs