VLCC owners are recovering some lost ground in spot trade ahead of crucial Opec+ and G20 talks over global oil supply on Thursday and Friday.
With some cargoes emerging from the Middle East Gulf for loading later this month, shipowners have managed to push rates slightly higher on renewed market optimism, according to brokers.
“I see the rate rebounding. Owners are resisting [further falls] again…but the clock is ticking and [charter queries] for end-April loading are starting to appear,” one of them said.
