As VLCCs posted their fourth straight day of spot market declines, a fixture of a Pantheon Tankers Management tanker reflected further pullback on the Middle East-to-Asia trade lane.
The plunge reverses some of a rebound that market players had hoped would push the large crude tankers out of their summer slumber and towards the seasonally strong winter market.
Hanwha Group booked Pantheon Tankers Management’s 318,000-dwt Caesar (built 2009) for the equivalent of nearly $36,000 per day for a voyage from the Middle East to South Korea, according to data from Tankers International.
