VLCCs are expected to resume their position as highest-earning kings of the crude tanker world in 2023 as they benefit from a rebound in Chinese imports, Poten & Partners says.
The largest crude carriers last secured higher average time charter rates than suezmaxes and aframaxes on 13 January 2021, according to Baltic Exchange data.
The VLCC class was hit badly by the Covid-19 lockdown in China and a downturn in demand for oil from the world’s largest importer.
