ShippingWatch

Poten & Partners warns against VLCC hype

It is far too early, and perhaps even wrong, to say that the steep increase of the VLCC in recent weeks is a sign that the market has rebounded, says Poten & Partners in its weekly report.

2013 looks set for a better finish on the VLCC market than most supertanker owners would have dared to hope for just a few months ago. Chances are no one really dared to hope for daily rates above USD 50,000 during the fall.

Nevertheless, the VLCC rates have seen an increase that once again made it profitable to operate the biggest ships on the benchmark string from the the Arabian Gulf to the Far East.

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