Frontline chief executive Lars Barstad believes charterers would suddenly become much more relaxed about VLCC vetting if rates reach $100,000 per day.
He told a Fearnleys webinar: “There’s a very, very high correlation between absolute trade rates and the vetting department’s willingness to clear us.
“I’m 100% sure that all of a sudden the big vetting departments of oil majors are going to find it absolutely reasonable to do a 22-year-old vessel and clear it,” Barstad said.
