Earnings for VLCCs are fast moving towards $100,000 per day, with one prominent shipping investor describing rates as being “on fire”.
An active Middle East Gulf and good demand in the Atlantic, against a tight tonnage list, is enabling shipowners to demand ever higher rates, according to Gersemi Asset Management founder and chief executive Joakim Hannisdahl.
“TD3C (Ras Tanura/Ningbo) is now $93,000 per day versus generic cash breakeven of around $39,000 per day, means green pastures for the Very Large Cash Cows,” he said in a social media post.
