That buying spree has coincided with a sharp surge in tanker earnings, with VLCC spot rates jumping above $100,000 per day earlier this year as charterers rushed to secure tonnage amid tightening availability ... ....
“There has never before been a single VLCCoperator with such a dominant market share of the active fleet,” BRS stated in a recent report, describing the Korean owner as a “super operator” of VLCCs.
Kpler The VLCC market ... VLCC freight futures for the Mideast Gulf to China route more than doubled to $13.8/bbl following the Iran war ... Asian buyers seeking replacement barrels are pulling Suezmax and VLCC tonnage toward West African load zones.