VLCC rates surged again on Tuesday as the number of ships available to load in the Middle East Gulf this month dwindled.
Japanese charterer Cosmo Oil paid Worldscale (WS) 122.5 for Frontline’s 311,000-dwt Front Century (built 1998) to load 270,000 tonnes on 25 February for discharge into Japan, up from WS105 on Monday.
This is double the rate charterers were paying last Thursday and equates to $84,000 per day, compared to $33,000 last week.
Owners
