It’s a tale of two shipping markets. Spot rates remain near historic highs for container shipping; the boom shows no sign of ending. But over in commodity shipping — dry bulk, crude and product tankers, liquefied natural gas (LNG) carriers — spot rates have now sunk below five-year averages.
Crude tankers
“A bleak outcome,” said brokerage BRS of the recent rates for very large crude carriers (VLCCs; tankers that carry 2 million barrels). “A terrible start of the year,” it said of rates for...
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