Researcher Trevor Crowe says the price of a five-year-old VLCC is presently just over 80% that of a newbuilding.
This compares to the peak in 2008 when a five-year-old VLCC was more expensive than a newbuilding.
His comments came at the end of a busy week for VLCC sale and purchase activity as Euronav moved for four Metrostar VLCC resales at $98m each.
