Multiple spot fixtures of VLCCs have failed because the shipowners and operators did not want to extend their waiting periods for the charterers to confirm, according to market participants.
In spot tanker trade, ships are commonly fixed by charterers subject to management approval and physical cargo stem being confirmed while owners and operators can wait for 48 hours.
But Tankers International data showed seven voyage charters tentatively fixed on Thursday and Friday failed to materialise, of them three were for West Africa-to-China trade and four for shipments from Middle East Gulf to China, US Gulf and the west coast of India.
