The week gone by in the VLCC market will soon be forgotten. Over-supply of tonnage and sluggish demand continues to weigh on sentiment. Earnings have slipped from bad to worse with sliding rates and increased bunker prices, as owners now virtually pay for the privilege of carrying crude from A to B.
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Source: Fearnleys A.Sx
The post Fearnleys Weekly Report – Week 23, 2021...
The Baltic Briefing has issued the tanker report for the 22ndweek of this year. The report dated 04thJune 2021 provides a valuable insight into this week’s tanker market dealings, freight rates, and charter activities.
VLCCMiddle East
In the Middle East, the market for 280,000mt to US Gulf (routing via the Cape/Cape) is assessed about half a point weaker at just below WS19.
270,000mt rates
Rates for 270,000mt to China have dipped, last assessed at WS34-34.5 level (showing a round-trip TCE of...