ShippingWatch

VLCC owners expect further rate hikes

A moderate supply of tonnage and large Chinese activity give shipowners hope for further improvements in the time to come.

The VLCC supertanker rates seem to stay at a high level in spite of last week's poor activity.

However, carriers have high expectations for the coming period, and according to brokers, China has made agreements for December so far that puts the total number out of the Middle East at 31, according to analysts Fearnley.

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