Rising suezmax rates are helping drive VLCC earnings.
A VLCC on a West Africa to Ningbo voyage flipped into the black on Monday, according to Howe Robinson shipbrokers, jumping from -$3,123 per day on a time charter equivalent basis on Friday to $7,132 as suezmax rates strengthened across the board.
“Suezmax surge in the west has driven their own rates,” the broker said in its daily report.
