- Rates for very large crude carriers (VLCCs; tankers that carry 2 million barrels of crude) from the Middle East Gulf (MEG) to Asia were down to $20,000 per day on Wednesday, with the global average assessed at $26,537 per day by brokerage Howe Robinson.
- Daily earnings are still in the $20,000s [per day], but with increased bunker prices and further downward potential, OPEX [operating expense] levels could come under threat moving forward, Fearnleys warned.
- Current rates are less than a tenth...
https://mfame.guru/tanker-rates-go-low-and-increases-the-competition/