VLCC rates have risen sharply as new cargoes drained the tonnage pool for the big tankers.
The Baltic Exchange assessed Middle East Gulf-to-Asia runs at $52,100 per day on Wednesday, up 20% in 24 hours and 33% in a week.
Fearnley Securities said there were “big moves” in freight rates, saying ships loading in the Middle East and West Africa were earning $8,000 more than on Tuesday.
