VLCC rates start to pick up after ‘disastrous’ September, say analysts

The VLCC market could be on the turn after a September “disaster”, amid increased activity in the Middle East and US Gulf, according to analysts.

In the Middle East, shipbroker Gibson said sentiment is “firmly back with the owners”, while Affinity said VLCC fortunes have begun to turn for the better after a flurry of fixtures shortened the tonnage list.