Clarksons: VLCC rates set to rise

In its recent update on its freight rate predictions, analytics company Clarksons Platou Securities predicts that VLCC spot rates are set to return to higher levels after a tough period. Dry bulk, on the other hand, faces ”unimpressive market development”.

Photo: PR / DHT Holdings

Clarksons Platou Securities states in its most recent shipping weekly update that after a stint of low spot rates for very large crude carriers (VLCCs), it is all about to turn around for tanker carriers. And there is no capacity in the fleet lying around to ”spoil the party”.

”In contrast to the dry bulk and container segments, where inefficiencies have contributed significantly to earnings growth, crude and product tankers are already fully operational. To put it another way, we don’t see any hidden fleet capacity in the tanker sector to spoil the party. In fact, waiting times have decreased and floating storage has returned to normal,” the update states.

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