Heightened tension in the Middle East has prompted optimism in the tanker market even though its actual impact on vessel operation remains muted.
On the benchmark Middle East-China route, spot VLCC earnings have risen over 50% this week to nearly $13,000 per day, according to brokers.
Among recent fixtures, pool manager Tanker International’s 298,330-dwt Ridgebury Artois (built 2001) is provisionally booked to lift from the Middle East during 30 May-1 June by S-Oil for shipment to South Korea at Worldscale 35, equivalent to $12,600 per day.
