US could send tanker rates plunging 'at the drop of a hat'

Tanker rates are riding high, but for how much longer might depend on how the US deals with China moving forward, according to Alphatanker.

The shipping data firm said in a note Thursday that the number of ships being held out of the wider VLCC pool — be it because they are sanctioned or otherwise — has steadily declined from 142 in mid-October to 116 Wednesday as the asset class fetches $100,000 per day rates.