Charter rates for modern VLCCs are wallowing at year lows below break-even levels, with few indications that the sector will see significant rallies this year.
Brokers pointed to GS Caltex Oil’s fixture of the VL8 Pool, 309,344-dwt Tina (built 1999) at WS 38, seven Worldscale points below last done. It equates to a time-charter equivalent of around $6,700 per day — one of the lowest levels seen this year.
