VLCC forward freight agreements are jumping on forecasts that vessel supply will tighten in the Middle East Gulf amid geopolitical tensions.
Six tankers have been attacked near the Strait of Hormuz since May, leading to heightened tension between Iran and the US in the region.
Based on the Baltic Exchange’s assessments, the July contract for benchmark TD3C Middle East-China route closed at $24,854 per day on Thursday, up a whopping $8,120 from the previous day.
