Arctic: Following Tuesday's dip, VL rates rebounded y'day with MEG-China marked back up to WS75 again corresponding to a TCE of ~$60k/d. Our observation is that fundamentals are quite tight and tightening, given rising exports, relatively low inventories and shift towards compliant trades, albeit mostly at the margin, so far. Given such a backdrop, charterers are less likely of taking the risk of staying on the fence for too long.
#tankers #shipping
VLCC market on fire: ships snapped up east and west of Suez, relets dominate the lists. MEG/Taiwan fixed at WS65 vs WS60.83 yesterday; TD3C paper >WS70 for Sep. USG strength, OPEC+ hike talk = perfect storm?
$DHT $FRO $OET $ECO
A surge in activity ex-MEG saw VLCC spot rates surge today. The tonnage list is tight, especially for prompt dates. Thus, owners seem to be in the driving seat at the moment, looking to push earnings even higher
TD3C +30% to $70k/d (~$85k/d eco scrubber)🚀
#oil#shipping
VLCC rates moving up fast, with spot now last done closer to +18%... seems more prompt vessels are getting even higher rates... eight-month highs now for VLCCs...