Increasing ship scarcity has continued to boost VLCC spot rates, with earnings hitting their highest levels since June 2023.
Clarksons Research said the biggest crude tankers had enjoyed “a strong week”, with average rates up 54% in seven days at $76,728 per day, due to higher activity in the Middle East.
The Baltic Exchange assessed Middle East Gulf to China spot rates at $74,800 per day on Friday, up 74% in a week.
