Some trading houses have pulled out of recent period fixtures of VLCC newbuildings amid falling rates and limited opportunities for arbitrage trade and contango plays, market sources said.
TradeWinds previously reported at least three VLCC newbuildings were tentatively fixed for storage or gasoil shipments during their maiden voyages on time charters that last for at least six months .
But Gunvor subsidiary Clearlake Shipping reportedly did not go through with the fixture of Navios Maritime Acquisition’s 310,000-dwt Baghdad (built 2020) for six to nine months at $42,000 per...
