VLCC freight rates

Global Tanker Market Foresees Critical Capacity Management in 2021-22

  • The global tanker market is set for some major changes in the forthcoming year.
  • Weaker freight rates have sapped enthusiasm for new orders, and creaking oversupply of older ships could accelerate scrapping.
  • With uncertainty over pandemic-related oil demand and over fueling ships ahead of key climate goals, a step backward may be the way forward for tankers.
  • The boom in tanker deliveries in 2019 is set to be followed by a lull.
  • New orders have fallen to decade lows, with the third quarter of...

https://mfame.guru/global-tanker-market-foresees-critical-capacity-management-in-2021-22/

Spot VLCC Freight Rates Infringe the World-Scale Mark

Spot VLCC freight rates for shipping crude from the Persian Gulf to the Far East breached the 200 Worldscale mark Friday with shipowners’ earnings racing past the $200,000/day figure for the first time in a decade, reports S&P Global Platts.

Bump for super tankers

The choking of tonnage supply due to US sanctions on China’s Cosco Dalian Tanker Shipping as well as ships sent to the dry docks for the installation of scrubbers, is causing charterers to jostle for super tankers to haul their crude...

https://mfame.guru/spot-vlcc-freight-rates-infringe-the-world-scale-mark/

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