MSI pitches better second half for VLCCs — so long as China comes along

Maritime Strategies International (MSI) is tipping VLCCs to join the rest of the tanker sector in the black, but the company does not seem confident.

As it stands, average time charter equivalent rates assessed by the Baltic Exchange have VLCCs deep in the red as Chinese oil demand lags thanks to Covid-19 restrictions while suezmaxes and aframaxes are both earning above $20,000 per day.