Crude tanker rates continue to languish, with one shipbroker arguing there simply is no market for the ships.
The Baltic Exchange assessed time charter equivalent (TCE) rates for VLCCs on Monday to be $1,197 per day, continuing their decline after opening the year at $5,020 per day.
Meanwhile, Howe Robinson said charterers are under no pressure to make deals.
"A very disappointing start to the week with a dearth of activity to report," it said in its daily report on...
