Friday, 04 October 2019 11:15

VLCC spot rate near $100,000/day

582 vlcc


Geopolitics are pushing VLCC spot rates towards $100,000 a day, as charterers work around the clock to snap up tonnage in a red hot market. The attacks on Saudi oil installations last month, combined with US sanctions on Cosco’s tankers 11 days later have sent the supertanker sector soaring with spot rates for some routes now in excess of $70,000 a day and a number of analysts pointing out that six-figure sums are on the horizon, backed up by news from tanker derivatives desks in London and Singapore reporting exceptionally brisk trading this week deep into Q4.


Read 525 times
Login to post comments