High values of tanker forward freight agreements (FFAs) towards the year-end reflect more on the strong appetite for hedging amid volatile trading than a bullish outlook, Alphatanker has argued.

The December FFA contract for the TD3C VLCC rate on the Middle East Gulf (MEG)-China route stands at Worldscale 53 this week, over 60% higher than today’s spot level.

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As for product tankers, the December TC2 contract for the northwest Europe-US Atlantic coast MR trade is at WS 117, more than 36%...